Marvell Technology, Inc. (NASDAQ:MRVL – Get Free Report)’s share price rose 1.2% during trading on Monday . The company traded as high as $70.57 and last traded at $69.55. Approximately 4,137,644 shares were traded during trading, a decline of 67% from the average daily volume of 12,638,972 shares. The stock had previously closed at $68.74.
Analyst Upgrades and Downgrades
MRVL has been the subject of a number of research reports. Raymond James set a $110.00 price objective on Marvell Technology in a research report on Thursday, March 6th. TD Cowen reduced their price objective on Marvell Technology from $125.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Rosenblatt Securities reiterated a “buy” rating and set a $140.00 price objective on shares of Marvell Technology in a research report on Thursday, March 6th. Craig Hallum upped their price target on Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, Citigroup reduced their price target on Marvell Technology from $136.00 to $122.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Three analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $120.44.
Check Out Our Latest Research Report on Marvell Technology
Marvell Technology Stock Performance
Insider Activity
In other Marvell Technology news, Director Brad W. Buss purchased 3,000 shares of Marvell Technology stock in a transaction dated Friday, March 7th. The shares were purchased at an average cost of $69.00 per share, for a total transaction of $207,000.00. Following the completion of the acquisition, the director now owns 87,113 shares in the company, valued at $6,010,797. This represents a 3.57 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Mark Casper sold 7,755 shares of the stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $123.08, for a total value of $954,485.40. The disclosure for this sale can be found here. Insiders sold 28,755 shares of company stock valued at $3,412,230 in the last ninety days. Insiders own 0.33% of the company’s stock.
Institutional Investors Weigh In On Marvell Technology
Several hedge funds and other institutional investors have recently modified their holdings of MRVL. True Wealth Design LLC raised its holdings in shares of Marvell Technology by 1,481.8% in the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after buying an additional 326 shares during the period. ORG Partners LLC increased its holdings in Marvell Technology by 175.3% during the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 149 shares during the period. Centricity Wealth Management LLC purchased a new position in Marvell Technology during the 4th quarter worth $26,000. Rialto Wealth Management LLC purchased a new position in Marvell Technology during the 4th quarter worth $27,000. Finally, Kieckhefer Group LLC purchased a new position in Marvell Technology during the 4th quarter worth $33,000. 83.51% of the stock is currently owned by hedge funds and other institutional investors.
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.
See Also
- Five stocks we like better than Marvell Technology
- Are These Liquid Natural Gas Stocks Ready For An Upside Bounce?
- The “Quality” Rotation: Back to Basics Investing
- How Investors Can Identify and Successfully Trade Gap-Down Stocks
- Occidental Petroleum: 4 Reasons to Love These Prices
- Ride Out The Recession With These Dividend Kings
- Super Micro’s International Presence Makes It a Winning Stock
Receive News & Ratings for Marvell Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marvell Technology and related companies with MarketBeat.com's FREE daily email newsletter.