Fintel reports that on November 11, 2024, Loop Capital initiated coverage of Marvell Technology (NasdaqGS:MRVL) with a Hold recommendation.
Analyst Price Forecast Suggests 1.27% Upside
As of October 22, 2024, the average one-year price target for Marvell Technology is $93.96/share. The forecasts range from a low of $74.94 to a high of $126.00. The average price target represents an increase of 1.27% from its latest reported closing price of $92.78 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Marvell Technology is 7,490MM, an increase of 41.89%. The projected annual non-GAAP EPS is 2.92, a decrease of 0.99% from the prior forecast.
What is the Fund Sentiment?
There are 1,918 funds or institutions reporting positions in Marvell Technology. This is an decrease of 7 owner(s) or 0.36% in the last quarter. Average portfolio weight of all funds dedicated to MRVL is 0.46%, an increase of 2.90%. Total shares owned by institutions decreased in the last three months by 0.11% to 845,707K shares. 
The put/call ratio of MRVL is 1.28, indicating a bearish outlook.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 27,377K shares representing 3.16% ownership of the company. In its prior filing, the firm reported owning 27,165K shares , representing an increase of 0.77%. The firm decreased its portfolio allocation in MRVL by 3.35% over the last quarter.
FBGRX - Fidelity Blue Chip Growth Fund holds 27,367K shares representing 3.16% ownership of the company. In its prior filing, the firm reported owning 27,629K shares , representing a decrease of 0.96%. The firm decreased its portfolio allocation in MRVL by 9.76% over the last quarter.
T. Rowe Price Investment Management holds 25,679K shares representing 2.96% ownership of the company. In its prior filing, the firm reported owning 25,839K shares , representing a decrease of 0.62%. The firm increased its portfolio allocation in MRVL by 1.10% over the last quarter.
Goldman Sachs Group holds 21,220K shares representing 2.45% ownership of the company. In its prior filing, the firm reported owning 15,885K shares , representing an increase of 25.14%. The firm increased its portfolio allocation in MRVL by 25.68% over the last quarter.
Brown Advisory holds 20,549K shares representing 2.37% ownership of the company. In its prior filing, the firm reported owning 17,481K shares , representing an increase of 14.93%. The firm decreased its portfolio allocation in MRVL by 56.28% over the last quarter.
Marvell Technology Background Information
(This description is provided by the company.)
Marvell Technology, Inc. develops and produces semiconductors and related technology. The Company offers security and networking platform, secure data processing, networking, and storage solutions. Marvell Technology serves customers worldwide
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