Marvell Technology Group Receives New Coverage from Analysts at Raymond James (MRVL)
Equities researchers at Raymond James began coverage on shares of Marvell Technology Group (NASDAQ:MRVL) in a research report issued on Tuesday, AR Network reports. The firm set an “outperform” rating on the stock.
Shares of Marvell Technology Group (NASDAQ:MRVL) opened at 11.42 on Tuesday. Marvell Technology Group has a one year low of $6.98 and a one year high of $13.51. The stock’s 50-day moving average is $11.94 and its 200-day moving average is $11.56. The company has a market cap of $5.622 billion and a P/E ratio of 25.61.
Marvell Technology Group (NASDAQ:MRVL) last issued its quarterly earnings data on Thursday, August 22nd. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.04. The company had revenue of $807.00 million for the quarter, compared to the consensus estimate of $791.30 million. During the same quarter in the previous year, the company posted $0.24 earnings per share. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. Analysts expect that Marvell Technology Group will post $0.88 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at JPMorgan Chase & Co. upgraded shares of Marvell Technology Group from a “neutral” rating to an “overweight” rating in a research note to investors on Tuesday, September 10th. They now have a $16.00 price target on the stock, up previously from $14.00. Separately, analysts at Susquehanna raised their price target on shares of Marvell Technology Group from $14.00 to $15.00 in a research note to investors on Friday, August 23rd. They now have a “positive” rating on the stock. Finally, analysts at FBR Capital Markets raised their price target on shares of Marvell Technology Group from $13.00 to $14.00 in a research note to investors on Friday, August 23rd. They now have a “market perform” rating on the stock. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Marvell Technology Group presently has an average rating of “Hold” and an average price target of $13.05.
Marvell Technology Group Ltd. (NASDAQ:MRVL) is a fabless semiconductor provider of application-specific standard products.
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