Marvell Technology (NASDAQ:MRVL) Price Target Raised to $55.00 at Barclays

Marvell Technology (NASDAQ:MRVL – Get Rating) had its target price lifted by research analysts at Barclays from $45.00 to $55.00 in a research report issued on Friday, The Fly reports. Barclays‘s target price would indicate a potential upside of 11.18% from the company’s current price.

Several other analysts have also recently issued reports on MRVL. The Goldman Sachs Group cut their target price on Marvell Technology from $54.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday, March 3rd. Morgan Stanley boosted their target price on Marvell Technology from $41.00 to $45.00 in a research note on Friday, March 3rd. Susquehanna reaffirmed a “positive” rating and issued a $50.00 price target on shares of Marvell Technology in a research note on Thursday, March 9th. JPMorgan Chase & Co. reduced their price objective on shares of Marvell Technology from $72.00 to $60.00 and set an “overweight” rating on the stock in a research report on Friday, March 3rd. Finally, Credit Suisse Group decreased their target price on Marvell Technology from $56.00 to $53.00 and set an “outperform” rating for the company in a research report on Friday, March 3rd. Three equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $61.08.

Marvell Technology Stock Up 7.6 %

Shares of NASDAQ:MRVL opened at $49.47 on Friday. The stock’s 50-day moving average price is $41.16 and its 200-day moving average price is $41.52. Marvell Technology has a 12-month low of $33.75 and a 12-month high of $61.50. The stock has a market capitalization of $42.50 billion, a P/E ratio of -260.37, a price-to-earnings-growth ratio of 16.16 and a beta of 1.44. The company has a current ratio of 1.37, a quick ratio of 0.93 and a debt-to-equity ratio of 0.25.

Marvell Technology (NASDAQ:MRVL – Get Rating) last announced its quarterly earnings data on Thursday, May 25th. The semiconductor company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Marvell Technology had a positive return on equity of 8.46% and a negative net margin of 2.76%. The company’s revenue for the quarter was down 8.7% compared to the same quarter last year. During the same period last year, the firm earned $0.37 earnings per share. On average, equities analysts anticipate that Marvell Technology will post 0.85 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Dean E. Jr. Jarnac sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $45.00, for a total value of $270,000.00. Following the completion of the transaction, the executive vice president now directly owns 12,879 shares in the company, valued at approximately $579,555. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.45% of the stock is owned by company insiders.

Institutional Investors Weigh In On Marvell Technology

Hedge funds have recently added to or reduced their stakes in the stock. Guardian Wealth Advisors LLC purchased a new stake in Marvell Technology during the 3rd quarter valued at $26,000. Barrett & Company Inc. purchased a new stake in Marvell Technology during the 1st quarter valued at $26,000. MADDEN SECURITIES Corp purchased a new stake in Marvell Technology during the 4th quarter valued at $27,000. Resurgent Financial Advisors LLC purchased a new stake in Marvell Technology during the 4th quarter valued at $28,000. Finally, Trifecta Capital Advisors LLC purchased a new stake in Marvell Technology during the 4th quarter valued at $32,000. 81.28% of the stock is currently owned by hedge funds and other institutional investors.

Marvell Technology Company Profile

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Marvell Technology, Inc engages in the provision of data infrastructure semiconductor solutions. It offers compute, networking, storage, and custom solutions. The firm designs, develops, and sells integrated circuits. The company was founded by Wei Li Dai, Pantas Sutardja, and Sehat Sutardja in 1995 and is headquartered in Wilmington, DE.