Marvell Technology Group (NASDAQ:MRVL) had its price objective increased by Oppenheimer from $30.00 to $35.00 in a report released on Friday, The Fly reports.
A number of other research analysts have also recently issued reports on MRVL. ValuEngine cut Marvell Technology Group from a buy rating to a hold rating in a research note on Friday, May 1st. B. Riley boosted their price target on Marvell Technology Group from $34.00 to $38.00 and gave the stock a buy rating in a research note on Friday. BMO Capital Markets decreased their price target on Marvell Technology Group to $25.00 and set a market perform rating for the company in a research note on Monday, March 2nd. Stifel Nicolaus boosted their price target on Marvell Technology Group from $30.00 to $32.00 and gave the stock a buy rating in a research note on Thursday, March 5th. Finally, Susquehanna Bancshares boosted their price target on Marvell Technology Group from $30.00 to $35.00 in a research note on Tuesday, May 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have assigned a buy rating to the company. Marvell Technology Group currently has an average rating of Buy and a consensus price target of $31.26.
Shares of NASDAQ:MRVL opened at $32.98 on Friday. The stock has a fifty day simple moving average of $27.27 and a two-hundred day simple moving average of $25.34. The stock has a market capitalization of $21.63 billion, a price-to-earnings ratio of 14.72, a PEG ratio of 3.47 and a beta of 1.08. Marvell Technology Group has a 12-month low of $16.45 and a 12-month high of $33.16. The company has a current ratio of 2.16, a quick ratio of 1.71 and a debt-to-equity ratio of 0.17.
In other Marvell Technology Group news, CAO Willem A. Meintjes sold 20,646 shares of the business’s stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $25.13, for a total transaction of $518,833.98. Following the completion of the sale, the chief accounting officer now owns 33,853 shares of the company’s stock, valued at $850,725.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Dan Christman sold 5,732 shares of the business’s stock in a transaction dated Tuesday, March 24th. The shares were sold at an average price of $20.48, for a total value of $117,391.36. The disclosure for this sale can be found here. Insiders have sold 58,235 shares of company stock valued at $1,434,632 in the last three months. 0.29% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Marvell Technology Group in the fourth quarter worth about $148,278,000. Menora Mivtachim Holdings LTD. bought a new position in shares of Marvell Technology Group in the first quarter worth about $108,984,000. Janus Henderson Group PLC boosted its stake in shares of Marvell Technology Group by 64.9% in the fourth quarter. Janus Henderson Group PLC now owns 8,462,573 shares of the semiconductor company’s stock worth $224,748,000 after acquiring an additional 3,330,794 shares during the period. Nuveen Asset Management LLC boosted its stake in shares of Marvell Technology Group by 32.7% in the first quarter. Nuveen Asset Management LLC now owns 9,032,472 shares of the semiconductor company’s stock worth $204,404,000 after acquiring an additional 2,227,948 shares during the period. Finally, BlackRock Inc. boosted its stake in shares of Marvell Technology Group by 5.1% in the first quarter. BlackRock Inc. now owns 44,392,337 shares of the semiconductor company’s stock worth $1,004,598,000 after acquiring an additional 2,143,302 shares during the period. 91.18% of the stock is owned by institutional investors and hedge funds.
About Marvell Technology Group
Marvell Technology Group Ltd. designs, develops, and markets analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a range of storage products, including hard disk drive (HDD) and solid-state drive controllers, as well as preamplifiers; supports a variety of host system interfaces consisting of serial attached SCSI (SAS), serial advanced technology attachment (SATA), peripheral component interconnect express, and non-volatile memory express; and develops software-enabled silicon solutions comprising SATA port multipliers, bridges, SATA, SAS, and non-volatile memory express redundant array of independent disks controllers and converged storage processors for enterprises, data centers, and cloud computing businesses.
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