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

Marvell Technology (NASDAQ:MRVL – Get Rating) had its target price increased by research analysts at Deutsche Bank Aktiengesellschaft from $50.00 to $65.00 in a note issued to investors on Friday, The Fly reports. Deutsche Bank Aktiengesellschaft’s target price suggests a potential upside of 31.39% from the stock’s previous close.

A number of other research firms also recently issued reports on MRVL. Stifel Nicolaus reduced their price target on shares of Marvell Technology from $58.00 to $56.00 and set a “buy” rating on the stock in a research note on Wednesday, April 19th. Raymond James assumed coverage on shares of Marvell Technology in a research note on Wednesday, March 1st. They issued an “outperform” rating and a $54.00 price target on the stock. Needham & Company LLC reissued a “buy” rating and issued a $50.00 price target on shares of Marvell Technology in a research note on Friday, March 3rd. Rosenblatt Securities reduced their price target on shares of Marvell Technology from $125.00 to $100.00 in a research note on Friday, March 3rd. Finally, Morgan Stanley lifted their price objective on shares of Marvell Technology from $41.00 to $45.00 in a report on Friday, March 3rd. Three investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $58.58.

Marvell Technology Stock Performance

NASDAQ:MRVL opened at $49.47 on Friday. The company’s 50-day moving average price is $41.16 and its 200-day moving average price is $41.52. The company has a current ratio of 1.37, a quick ratio of 0.93 and a debt-to-equity ratio of 0.25. The company has a market cap of $42.50 billion, a P/E ratio of -260.37, a P/E/G ratio of 16.16 and a beta of 1.44. Marvell Technology has a twelve month low of $33.75 and a twelve month high of $61.50.

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

Insider Activity 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 completion of the transaction, the executive vice president now owns 12,879 shares in the company, valued at approximately $579,555. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.45% of the stock is owned by insiders.

Hedge Funds Weigh In On Marvell Technology

Large investors have recently bought and sold shares of the company. Guardian Wealth Advisors LLC purchased a new position in Marvell Technology during the 3rd quarter worth $26,000. Barrett & Company Inc. acquired a new position in shares of Marvell Technology during the 1st quarter worth $26,000. MADDEN SECURITIES Corp acquired a new position in shares of Marvell Technology during the 4th quarter worth $27,000. Resurgent Financial Advisors LLC acquired a new position in shares of Marvell Technology during the 4th quarter worth $28,000. Finally, Trifecta Capital Advisors LLC acquired a new position in shares of Marvell Technology during the 4th quarter worth $32,000. Hedge funds and other institutional investors own 81.28% of the company’s stock.

About Marvell Technology

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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.