Marvell Technology (NASDAQ:MRVL) Given New $130.00 Price Target at JPMorgan Chase & Co.

Marvell Technology (NASDAQ:MRVL) had its target price hoisted by equities researchers at JPMorgan Chase & Co. from $90.00 to $130.00 in a research note issued on Wednesday,Briefing.com Automated Import reports. The firm presently has an “overweight” rating on the semiconductor company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 18.78% from the stock’s previous close.

Other analysts have also issued reports about the stock. Cantor Fitzgerald increased their target price on shares of Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday. Benchmark reiterated a “buy” rating and issued a $135.00 price objective (up from $115.00) on shares of Marvell Technology in a research report on Wednesday. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a report on Monday. Citigroup reiterated a “buy” rating and issued a $91.00 price target on shares of Marvell Technology in a report on Monday, October 14th. Finally, The Goldman Sachs Group upped their price objective on shares of Marvell Technology from $77.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $117.92.

Marvell Technology Stock Up 14.1 %

Shares of Marvell Technology stock opened at $109.45 on Wednesday. The company’s 50 day moving average price is $83.50 and its 200-day moving average price is $74.73. Marvell Technology has a 52-week low of $50.35 and a 52-week high of $109.45. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.26 and a current ratio of 1.79. The stock has a market capitalization of $96.99 billion, a price-to-earnings ratio of -86.41, a P/E/G ratio of 4.19 and a beta of 1.46.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $89.14, for a total value of $534,840.00. Following the completion of the sale, the executive vice president now owns 103,244 shares of the company’s stock, valued at $9,203,170.16. This trade represents a 5.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $110,805.00. Following the transaction, the chief financial officer now owns 111,753 shares of the company’s stock, valued at approximately $8,255,194.11. The trade was a 1.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 267,000 shares of company stock valued at $20,899,260 in the last three months. 0.33% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Marvell Technology

Large investors have recently added to or reduced their stakes in the stock. True Wealth Design LLC raised its stake in shares of Marvell Technology by 1,481.8% during the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 326 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Marvell Technology in the 2nd quarter worth approximately $32,000. Quarry LP bought a new position in shares of Marvell Technology during the second quarter valued at approximately $32,000. Whittier Trust Co. raised its stake in Marvell Technology by 74.5% in the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock worth $35,000 after buying an additional 210 shares in the last quarter. Finally, Goodman Advisory Group LLC purchased a new stake in Marvell Technology during the third quarter worth $37,000. 83.51% of the stock is 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.