Susquehanna Raises Marvell Technology (NASDAQ:MRVL) Price Target to $110.00

Marvell Technology (NASDAQ:MRVL) had its price target upped by research analysts at Susquehanna from $95.00 to $110.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “positive” rating on the semiconductor company’s stock. Susquehanna’s target price would suggest a potential upside of 18.10% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. Piper Sandler reissued an “overweight” rating and issued a $100.00 price objective on shares of Marvell Technology in a research note on Friday, August 30th. StockNews.com raised shares of Marvell Technology from a “sell” rating to a “hold” rating in a research report on Friday, November 22nd. Bank of America boosted their price objective on shares of Marvell Technology from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Rosenblatt Securities increased their target price on shares of Marvell Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $95.00 price target (up from $90.00) on shares of Marvell Technology in a research note on Friday, August 30th. Three equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Marvell Technology has a consensus rating of “Moderate Buy” and a consensus target price of $95.39.

Marvell Technology Stock Up 1.0 %

Shares of Marvell Technology stock opened at $93.14 on Wednesday. Marvell Technology has a 12-month low of $50.35 and a 12-month high of $95.55. The firm has a market capitalization of $82.54 billion, a PE ratio of -83.91, a price-to-earnings-growth ratio of 4.01 and a beta of 1.44. The company has a quick ratio of 1.26, a current ratio of 1.79 and a debt-to-equity ratio of 0.28. The stock’s fifty day moving average is $81.05 and its 200-day moving average is $73.76.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.30. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the previous year, the company earned $0.18 EPS. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. Equities analysts anticipate that Marvell Technology will post 0.78 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $89.14, for a total transaction of $534,840.00. Following the transaction, the executive vice president now owns 103,244 shares of the company’s stock, valued at $9,203,170.16. This trade represents a 5.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $73.87, for a total transaction of $110,805.00. Following the completion of the sale, the chief financial officer now directly owns 111,753 shares of the company’s stock, valued at $8,255,194.11. The trade was a 1.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 267,000 shares of company stock worth $20,899,260 over the last three months. 0.33% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Marvell Technology

Institutional investors and hedge funds have recently made changes to their positions in the company. Peapack Gladstone Financial Corp lifted its holdings in Marvell Technology by 27.3% during the third quarter. Peapack Gladstone Financial Corp now owns 23,312 shares of the semiconductor company’s stock worth $1,681,000 after acquiring an additional 5,005 shares in the last quarter. Synovus Financial Corp raised its position in shares of Marvell Technology by 60.5% during the third quarter. Synovus Financial Corp now owns 6,489 shares of the semiconductor company’s stock worth $468,000 after purchasing an additional 2,445 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Marvell Technology during the 3rd quarter valued at about $3,432,000. World Investment Advisors LLC grew its position in shares of Marvell Technology by 1.4% in the 3rd quarter. World Investment Advisors LLC now owns 40,366 shares of the semiconductor company’s stock valued at $2,911,000 after purchasing an additional 560 shares during the period. Finally, Sanctuary Advisors LLC increased its stake in Marvell Technology by 42.5% during the 3rd quarter. Sanctuary Advisors LLC now owns 75,027 shares of the semiconductor company’s stock worth $5,411,000 after purchasing an additional 22,382 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Company Profile

Marvell Technology, Inc, together with its subsidiaries, provides data infrastructure semiconductor solutions, spanning the data center core to network edge. The company develops and scales complex System-on-a-Chip architectures, integrating analog, mixed-signal, and digital signal processing functionality.