The Goldman Sachs Group Forecasts Strong Price Appreciation for Marvell Technology (NASDAQ:MRVL) Stock

Marvell Technology (NASDAQ:MRVL) had its price objective boosted by analysts at The Goldman Sachs Group from $115.00 to $131.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. The Goldman Sachs Group’s price target points to a potential upside of 14.16% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. Loop Capital boosted their price objective on Marvell Technology from $95.00 to $110.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Benchmark reissued a “buy” rating and issued a $135.00 price target (up from $115.00) on shares of Marvell Technology in a report on Wednesday, December 4th. Piper Sandler reaffirmed an “overweight” rating and set a $120.00 price objective (up previously from $100.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. Evercore ISI boosted their target price on shares of Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. Finally, JPMorgan Chase & Co. raised their price target on shares of Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat, Marvell Technology has an average rating of “Moderate Buy” and an average price target of $121.28.

Marvell Technology Stock Performance

NASDAQ MRVL traded down $3.42 on Friday, reaching $114.75. 3,341,695 shares of the company’s stock traded hands, compared to its average volume of 9,726,191. Marvell Technology has a fifty-two week low of $53.19 and a fifty-two week high of $126.15. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The firm has a market cap of $99.29 billion, a price-to-earnings ratio of -67.50, a P/E/G ratio of 4.03 and a beta of 1.41. The stock has a 50 day moving average price of $103.34 and a 200-day moving average price of $82.45.

Insiders Place Their Bets

In other news, insider Muhammad Raghib Hussain sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total transaction of $12,075,000.00. Following the completion of the sale, the insider now owns 694,487 shares in the company, valued at $55,906,203.50. This trade represents a 17.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $80.77, for a total value of $484,620.00. Following the completion of the transaction, the executive vice president now owns 109,244 shares in the company, valued at $8,823,637.88. This represents a 5.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 180,000 shares of company stock valued at $15,163,420. Insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. True Wealth Design LLC boosted its holdings in Marvell Technology by 1,481.8% during 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. ORG Partners LLC lifted its position in shares of Marvell Technology by 175.3% during the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 149 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in shares of Marvell Technology in the second quarter valued at approximately $32,000. Quarry LP acquired a new position in shares of Marvell Technology in the second quarter valued at approximately $32,000. Finally, Whittier Trust Co. increased its stake in Marvell Technology by 74.5% during the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock worth $35,000 after buying an additional 210 shares during the period. Institutional investors and hedge funds own 83.51% of the company’s stock.

About Marvell Technology

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.