Loop Capital restated their buy rating on shares of Marvell Technology Group (NASDAQ:MRVL) in a research note released on Wednesday. They currently have a $28.00 price target on the semiconductor company’s stock.
Other analysts have also recently issued research reports about the company. B. Riley reiterated a buy rating and set a $23.00 target price on shares of Marvell Technology Group in a research report on Friday, September 1st. Northland Securities reiterated a buy rating and set a $20.00 target price on shares of Marvell Technology Group in a research report on Friday, August 25th. Cowen reiterated a buy rating and set a $21.00 target price on shares of Marvell Technology Group in a research report on Monday, August 21st. BidaskClub upgraded Marvell Technology Group from a strong sell rating to a sell rating in a research report on Wednesday, August 16th. Finally, Citigroup upgraded Marvell Technology Group from a sell rating to a neutral rating and set a $22.00 target price on the stock in a research report on Tuesday, November 7th. Eight analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of Buy and an average target price of $23.48.
Shares of Marvell Technology Group (MRVL) opened at $22.18 on Wednesday. The stock has a market capitalization of $10,972.10, a PE ratio of 24.02, a price-to-earnings-growth ratio of 1.36 and a beta of 1.12. Marvell Technology Group has a fifty-two week low of $13.59 and a fifty-two week high of $24.22.
In other Marvell Technology Group news, major shareholder Sehat Sutardja sold 62,337 shares of Marvell Technology Group stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $18.48, for a total value of $1,151,987.76. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders sold a total of 17,558,035 shares of company stock worth $320,838,284 in the last ninety days. 6.80% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in MRVL. D.A. Davidson & CO. boosted its holdings in Marvell Technology Group by 10.2% in the 2nd quarter. D.A. Davidson & CO. now owns 6,461 shares of the semiconductor company’s stock valued at $106,000 after purchasing an additional 600 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in Marvell Technology Group in the 3rd quarter valued at approximately $106,000. Massey Quick Simon & CO. LLC purchased a new stake in Marvell Technology Group in the 3rd quarter valued at approximately $124,000. Creative Planning boosted its holdings in Marvell Technology Group by 39.8% in the 2nd quarter. Creative Planning now owns 10,008 shares of the semiconductor company’s stock valued at $165,000 after purchasing an additional 2,850 shares in the last quarter. Finally, Boothbay Fund Management LLC purchased a new stake in Marvell Technology Group in the 3rd quarter valued at approximately $203,000. 78.10% of the stock is currently owned by institutional investors.
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About Marvell Technology Group
Marvell Technology Group Ltd. is a semiconductor provider of application-specific standard products. The Company is engaged in the design, development and sale of integrated circuits. The Company develops System-on-a-Chip (SoC) devices. It also develops integrated hardware platforms along with software that incorporates digital computing technologies designed and configured to provide an optimized computing solution.
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