Marvell Technology (NASDAQ:MRVL) PT Raised to $67.00 at Craig Hallum

Marvell Technology (NASDAQ:MRVL – Get Rating) had its price target upped by research analysts at Craig Hallum from $56.00 to $67.00 in a research note issued to investors on Friday, The Fly reports. Craig Hallum’s price objective would suggest a potential upside of 35.44% from the stock’s previous close.

MRVL has been the subject of a number of other research reports. Bank of America raised their price objective on Marvell Technology from $51.00 to $70.00 in a research report on Friday. Susquehanna raised their price objective on Marvell Technology from $53.00 to $60.00 in a research report on Friday. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price objective on shares of Marvell Technology in a research report on Friday, March 3rd. Wells Fargo & Company raised their price objective on Marvell Technology from $54.00 to $65.00 in a research report on Friday. Finally, Rosenblatt Securities reduced their price objective on Marvell Technology from $125.00 to $100.00 in a research report on Friday, March 3rd. Three analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $62.30.

Marvell Technology Trading Up 7.6 %

MRVL opened at $49.47 on Friday. The stock has a market cap of $42.50 billion, a PE ratio of -260.37, a PEG ratio of 16.16 and a beta of 1.44. The company has a quick ratio of 0.93, a current ratio of 1.37 and a debt-to-equity ratio of 0.25. The business has a 50 day moving average of $41.16 and a 200-day moving average of $41.52. Marvell Technology has a 52 week low of $33.75 and a 52 week high of $61.50.

Marvell Technology (NASDAQ:MRVL – Get Rating) last released its earnings results on Thursday, May 25th. The semiconductor company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. The company had revenue of $1.32 billion during 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 firm’s revenue for the quarter was down 8.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.37 EPS. Equities research analysts predict that Marvell Technology will post 0.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Dean E. Jr. Jarnac sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $45.00, for a total transaction of $270,000.00. Following the transaction, the executive vice president now owns 12,879 shares of the company’s stock, valued at $579,555. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.45% of the stock is currently owned by insiders.

Institutional Trading of Marvell Technology

A number of large investors have recently modified their holdings of the company. Edge Capital Group LLC boosted its holdings in shares of Marvell Technology by 6.0% in the fourth quarter. Edge Capital Group LLC now owns 4,273 shares of the semiconductor company’s stock valued at $158,000 after purchasing an additional 240 shares during the period. Gagnon Securities LLC lifted its holdings in Marvell Technology by 1.6% during the fourth quarter. Gagnon Securities LLC now owns 15,369 shares of the semiconductor company’s stock worth $569,000 after buying an additional 247 shares during the period. Quilter Plc purchased a new stake in Marvell Technology during the first quarter worth $248,250,000. Lido Advisors LLC lifted its holdings in Marvell Technology by 1.6% during the third quarter. Lido Advisors LLC now owns 15,599 shares of the semiconductor company’s stock worth $669,000 after buying an additional 251 shares during the period. Finally, Allworth Financial LP lifted its holdings in Marvell Technology by 10.3% during the fourth quarter. Allworth Financial LP now owns 2,787 shares of the semiconductor company’s stock worth $103,000 after buying an additional 260 shares during the period. Hedge funds and other institutional investors 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.