Marvell Technology (NASDAQ:MRVL) Given New $125.00 Price Target at KeyCorp

Marvell Technology (NASDAQ:MRVL) had its price objective increased by stock analysts at KeyCorp from $95.00 to $125.00 in a report released on Wednesday,Briefing.com Automated Import reports. The firm currently has an “overweight” rating on the semiconductor company’s stock. KeyCorp’s price target would suggest a potential upside of 14.21% from the stock’s previous close.

A number of other analysts also recently issued reports on the stock. UBS Group raised their price target on shares of Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday. The Goldman Sachs Group lifted their target price on Marvell Technology from $77.00 to $87.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Needham & Company LLC increased their price target on Marvell Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday. Oppenheimer upped their target price on shares of Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Piper Sandler reiterated an “overweight” rating and set a $120.00 price target (up from $100.00) on shares of Marvell Technology in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat.com, Marvell Technology has a consensus rating of “Moderate Buy” and a consensus price target of $117.92.

Marvell Technology Stock Up 14.1 %

Shares of MRVL opened at $109.45 on Wednesday. The stock has a 50 day moving average price of $83.50 and a 200 day moving average price of $74.73. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.26 and a current ratio of 1.79. The stock has a market capitalization of $96.99 billion, a price-to-earnings ratio of -86.41, a PEG ratio of 4.19 and a beta of 1.46. Marvell Technology has a one year low of $50.35 and a one year high of $109.45.

Insider Transactions at Marvell Technology

In related news, insider Muhammad Raghib Hussain sold 150,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total value of $12,075,000.00. Following the completion of the transaction, the insider now directly owns 694,487 shares of the company’s stock, valued at $55,906,203.50. This represents a 17.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $80.77, for a total transaction of $484,620.00. Following the sale, the executive vice president now directly owns 109,244 shares in the company, valued at approximately $8,823,637.88. The trade was a 5.21 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 267,000 shares of company stock valued at $20,899,260. Insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Marvell Technology

Several hedge funds have recently made changes to their positions in the company. True Wealth Design LLC increased its holdings in shares of Marvell Technology by 1,481.8% in the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 326 shares during the period. Strategic Investment Solutions Inc. IL purchased a new position in Marvell Technology during the 2nd quarter worth $32,000. Quarry LP acquired a new position in Marvell Technology in the second quarter valued at $32,000. Whittier Trust Co. raised its holdings in shares of Marvell Technology by 74.5% in the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 210 shares during the last quarter. Finally, Goodman Advisory Group LLC purchased a new position in shares of Marvell Technology during the third quarter worth about $37,000. Hedge funds and other institutional investors 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.