Marvell Technology (NASDAQ:MRVL – Get Free Report) had its target price hoisted by investment analysts at Needham & Company LLC from $95.00 to $120.00 in a research note issued on Wednesday, MarketBeat.com reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s target price would suggest a potential upside of 5.85% from the stock’s current price.
A number of other analysts have also recently weighed in on MRVL. The Goldman Sachs Group increased their price target on shares of Marvell Technology from $77.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Benchmark reiterated a “buy” rating and set a $135.00 target price (up previously from $115.00) on shares of Marvell Technology in a research note on Wednesday. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a research report on Monday. Bank of America lifted their target price on Marvell Technology from $108.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Morgan Stanley upped their price target on Marvell Technology from $82.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Wednesday. 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $119.04.
Read Our Latest Research Report on MRVL
Marvell Technology Price Performance
Insider Activity
In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $73.87, for a total transaction of $110,805.00. Following the sale, the chief financial officer now directly owns 111,753 shares of the company’s stock, valued at $8,255,194.11. The trade was a 1.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on Friday, November 15th. The shares were sold at an average price of $89.14, for a total value of $534,840.00. Following the transaction, the executive vice president now owns 103,244 shares in the company, valued at $9,203,170.16. This represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 267,000 shares of company stock worth $20,899,260. Insiders own 0.33% of the company’s stock.
Institutional Investors Weigh In On Marvell Technology
Institutional investors have recently modified their holdings of the stock. True Wealth Design LLC boosted its stake in shares of Marvell Technology by 1,481.8% during the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 326 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in Marvell Technology during the second quarter worth $32,000. Quarry LP acquired a new position in Marvell Technology during the 2nd quarter valued at $32,000. Whittier Trust Co. boosted its holdings in Marvell Technology by 74.5% in the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 210 shares during the period. Finally, Goodman Advisory Group LLC acquired a new stake in Marvell Technology in the 3rd quarter worth $37,000. 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.
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