Morgan Stanley Adjusts Marvell Technology's Price Target to $90.00

Investment firm Morgan Stanley has lowered its price target for Marvell Technology (NASDAQ:MRVL) from $113.00 to $90.00, as detailed in a research note released to investors on Thursday. This adjustment comes alongside an "equal weight" rating for the semiconductor company's stock. The new price target implies a potential downside of 0.16% from the stock's current value.

Market Reactions to Marvell Technology

Marvell Technology has been featured in various recent reports from financial analysts. On February 14th, Barclays reaffirmed an "overweight" rating on Marvell shares. Notably, on December 4th, Susquehanna increased its price objective for Marvell from $110.00 to $125.00 and issued a "positive" rating. Earlier, on January 6th, Craig Hallum raised its price target from $132.00 to $149.00, along with maintaining a "buy" rating. StockNews.com upgraded Marvell from a "sell" to a "hold" rating on January 9th. Additionally, Goldman Sachs adjusted its price target for the stock from $115.00 to $131.00, also rating it as a "buy" in a report on January 10th.

Overall, out of multiple analysts, three rated the stock as hold, twenty-four as buy, and two gave it a strong buy rating. According to MarketBeat.com, the consensus rating for the stock currently stands at "Moderate Buy" with an average price target of $124.48.

Marvell Technology's Stock Performance

As of Thursday, shares of Marvell Technology opened at $90.14. The company has a twelve-month low of $53.19 and a high of $127.48 during this period. Key financial ratios show a current ratio of 1.60, a quick ratio of 1.11, and a debt-to-equity ratio of 0.30. Marvell Technology has a market capitalization of $78.00 billion, a P/E ratio of -53.02, and a P/E/G ratio of 1.61. The stock's 50-day moving average price stands at $110.52, while its 200-day moving average is $93.84.

Insider Activity at Marvell Technology

In recent insider activity, COO Chris Koopmans sold 6,000 shares of Marvell on February 18th, at an average price of $106.35, resulting in a total transaction value of $638,100. Following this sale, he retained ownership of 87,931 shares valued at approximately $9,351,461.85, marking a 6.39% decrease in his holdings. The sale was reported in an SEC filing. Additionally, EVP Mark Casper sold 7,755 shares on January 17th for an average price of $123.08, accumulating a total of $954,485.40. Overall, insiders traded a total of 36,255 shares valued at approximately $4,330,980 in the past ninety days, with insiders holding about 0.33% of the company’s stock.

Institutional Investors and Marvell Technology

Recent trading activity indicates that hedge funds have actively bought and sold shares of Marvell Technology. Zweig DiMenna Associates LLC increased its stake by 6.3% in the fourth quarter and now owns 213,521 shares worth $23,583,000 after acquiring an additional 12,700 shares. Berbice Capital Management LLC established a new position valued at $637,000 during the same quarter. Additionally, RFG Advisory LLC grew its holdings by 6.2%, now possessing 42,621 shares after acquiring an extra 2,507 shares. Braun Stacey Associates Inc. and Charles Schwab Investment Management Inc. also adjusted their stakes in Marvell Technology. Currently, institutional investors and hedge funds control 83.51% of the company's shares.

About Marvell Technology

Marvell Technology, Inc. and its subsidiaries deliver semiconductor solutions that power data infrastructure from the core data center to the network's edge. They specialize in developing complex System-on-a-Chip architectures that integrate various functionalities.

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