Marvell Technology (NASDAQ:MRVL) PT Raised to $65.00

Marvell Technology (NASDAQ:MRVL – Get Rating) had its price target increased by Stifel Nicolaus from $56.00 to $65.00 in a research report issued on Friday, The Fly reports. Stifel Nicolaus’ target price points to a potential upside of 31.39% from the stock’s current price.

Several other research firms have also recently weighed in on MRVL. KeyCorp upped their target price on Marvell Technology from $60.00 to $70.00 in a research note on Friday. JPMorgan Chase & Co. lowered their price target on shares of Marvell Technology from $72.00 to $60.00 and set an “overweight” rating for the company in a report on Friday, March 3rd. Barclays upped their price target on shares of Marvell Technology from $45.00 to $55.00 in a report on Friday. Morgan Stanley upped their price target on shares of Marvell Technology from $41.00 to $45.00 in a report on Friday, March 3rd. Finally, Credit Suisse Group lowered their price target on shares of Marvell Technology from $56.00 to $53.00 and set an “outperform” rating for the company in a report on Friday, March 3rd. Three equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat, Marvell Technology currently has an average rating of “Moderate Buy” and an average target price of $61.08.

Marvell Technology Stock Up 7.6 %

NASDAQ MRVL opened at $49.47 on Friday. The business has a fifty day moving average price of $41.16 and a two-hundred day moving average price of $41.52. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.37 and a quick ratio of 0.93. Marvell Technology has a fifty-two week low of $33.75 and a fifty-two week high of $61.50. The stock has a market capitalization of $42.50 billion, a PE ratio of -260.37, a PEG ratio of 16.16 and a beta of 1.44.

Marvell Technology (NASDAQ:MRVL – Get Rating) last released its earnings results on Thursday, May 25th. The semiconductor company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.02. Marvell Technology had a positive return on equity of 8.46% and a negative net margin of 2.76%. The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the prior year, the company earned $0.37 earnings per share. The company’s quarterly revenue was down 8.7% on a year-over-year basis. Equities analysts expect that Marvell Technology will post 0.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, EVP Dean E. Jr. Jarnac sold 6,000 shares of the company’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $45.00, for a total transaction of $270,000.00. Following the sale, the executive vice president now owns 12,879 shares of the company’s stock, valued at $579,555. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.45% of the company’s stock.

Hedge Funds Weigh In On Marvell Technology

Institutional investors have recently made changes to their positions in the stock. MetLife Investment Management LLC acquired a new stake in Marvell Technology in the first quarter valued at approximately $1,210,000. Yousif Capital Management LLC increased its stake in Marvell Technology by 6.6% during the 1st quarter. Yousif Capital Management LLC now owns 14,918 shares of the semiconductor company’s stock valued at $1,070,000 after purchasing an additional 925 shares in the last quarter. Raymond James Trust N.A. raised its holdings in Marvell Technology by 2.8% during the first quarter. Raymond James Trust N.A. now owns 12,780 shares of the semiconductor company’s stock worth $917,000 after buying an additional 344 shares during the last quarter. Cetera Investment Advisers lifted its stake in shares of Marvell Technology by 20.6% in the first quarter. Cetera Investment Advisers now owns 28,668 shares of the semiconductor company’s stock valued at $2,056,000 after buying an additional 4,888 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its holdings in shares of Marvell Technology by 35.5% during the first quarter. Sequoia Financial Advisors LLC now owns 5,099 shares of the semiconductor company’s stock valued at $366,000 after buying an additional 1,337 shares during the last quarter. Institutional investors and hedge funds own 81.28% of the company’s stock.

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.