Marvell Technology (NASDAQ:MRVL) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Marvell Technology (NASDAQ:MRVL) had its target price lifted by JPMorgan Chase & Co. from $90.00 to $130.00 in a report released on Wednesday,Briefing.com Automated Import reports. The firm currently has an “overweight” rating on the semiconductor company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 18.78% from the company’s current price.

A number of other equities research analysts have also weighed in on MRVL. Cantor Fitzgerald boosted their price target on Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday. Loop Capital upped their price target on shares of Marvell Technology from $95.00 to $110.00 and gave the company a “hold” rating in a research note on Wednesday. Piper Sandler reiterated an “overweight” rating and set a $120.00 price objective (up from $100.00) on shares of Marvell Technology in a research note on Wednesday. Barclays upped their target price on Marvell Technology from $85.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a research note on Monday. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $117.92.

Marvell Technology Stock Performance

Shares of MRVL stock opened at $109.45 on Wednesday. The company has a current ratio of 1.79, a quick ratio of 1.26 and a debt-to-equity ratio of 0.28. The company has a market cap of $96.99 billion, a PE ratio of -86.41, a PEG ratio of 4.19 and a beta of 1.46. Marvell Technology has a 12-month low of $50.35 and a 12-month high of $109.45. The business’s fifty day simple moving average is $83.50 and its 200-day simple moving average is $74.73.

Insider Activity at Marvell Technology

In other Marvell Technology news, insider Muhammad Raghib Hussain sold 150,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total value of $12,075,000.00. Following the completion of the sale, the insider now directly owns 694,487 shares in the company, valued at $55,906,203.50. This represents a 17.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark Casper sold 2,500 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $70.83, for a total transaction of $177,075.00. Following the transaction, the executive vice president now directly owns 22,494 shares in the company, valued at approximately $1,593,250.02. The trade was a 10.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 267,000 shares of company stock valued at $20,899,260. 0.33% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MRVL. Davidson Kempner Capital Management LP increased its holdings in Marvell Technology by 26.5% in the 2nd quarter. Davidson Kempner Capital Management LP now owns 250,000 shares of the semiconductor company’s stock valued at $17,482,000 after purchasing an additional 52,365 shares during the last quarter. Braun Stacey Associates Inc. acquired a new stake in shares of Marvell Technology in the third quarter valued at $16,435,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Marvell Technology by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock valued at $235,247,000 after buying an additional 66,654 shares during the period. Diversified Trust Co acquired a new position in Marvell Technology during the 2nd quarter worth about $932,000. Finally, Silicon Valley Capital Partners boosted its holdings in Marvell Technology by 254.6% during the 3rd quarter. Silicon Valley Capital Partners now owns 32,978 shares of the semiconductor company’s stock valued at $2,378,000 after acquiring an additional 23,678 shares during the period. 83.51% of the stock is currently owned by institutional investors and hedge funds.

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.