Marvell Technology Group Now Covered by MKM Partners (MRVL)
MKM Partners initiated coverage on shares of Marvell Technology Group (NASDAQ:MRVL) in a research note issued on Friday, TheFlyOnTheWall.com reports. The firm set a “buy” rating on the stock.
MRVL has been the subject of a number of other recent research reports. Analysts at Zacks upgraded shares of Marvell Technology Group from a “neutral” rating to an “outperform” rating in a research note to investors on Wednesday, December 25th. They now have a $14.90 price target on the stock. Separately, analysts at FBR Capital Markets raised their price target on shares of Marvell Technology Group from $14.00 to $15.00 in a research note to investors on Friday, November 22nd. Finally, analysts at Needham & Company raised their price target on shares of Marvell Technology Group from $15.00 to $17.50 in a research note to investors on Friday, November 22nd. They now have a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $14.22.
Shares of Marvell Technology Group (NASDAQ:MRVL) opened at 15.15 on Friday. Marvell Technology Group has a 1-year low of $8.39 and a 1-year high of $15.30. The stock has a 50-day moving average of $13. and a 200-day moving average of $12.6. The company has a market cap of $7.452 billion and a price-to-earnings ratio of 29.12.
Marvell Technology Group (NASDAQ:MRVL) last released its earnings data on Thursday, November 21st. The company reported $0.32 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.25 by $0.07. The company had revenue of $931.00 million for the quarter, compared to the consensus estimate of $872.80 million. During the same quarter last year, the company posted $0.20 earnings per share. Marvell Technology Group’s revenue was up 15.4% compared to the same quarter last year. On average, analysts predict that Marvell Technology Group will post $0.99 earnings per share for the current fiscal year.
In other Marvell Technology Group news, VP Pantas Sutardja sold 120,000 shares of Marvell Technology Group stock on the open market in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $14.18, for a total value of $1,701,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Marvell Technology Group Ltd. (NASDAQ:MRVL) is a fabless semiconductor provider of application-specific standard products.
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