Marvell Technology Group Receives Consensus Recommendation of “Buy” from Analysts (NASDAQ:MRVL)
Shares of Marvell Technology Group (NASDAQ:MRVL) have been given an average recommendation of “Buy” by the twenty-five brokerages that are presently covering the company, American Banking News reports. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $16.62.
Shares of Marvell Technology Group (NASDAQ:MRVL) opened at 13.39 on Wednesday. Marvell Technology Group has a 52 week low of $10.87 and a 52 week high of $16.65. The stock has a 50-day moving average of $14.2 and a 200-day moving average of $15.15. The company has a market cap of $6.805 billion and a P/E ratio of 18.76.
Marvell Technology Group (NASDAQ:MRVL) last announced its earnings results on Thursday, May 22nd. The company reported $0.27 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.22 by $0.05. The company had revenue of $957.83 million for the quarter, compared to the consensus estimate of $892.25 million. During the same quarter in the prior year, the company posted $0.19 earnings per share. The company’s quarterly revenue was up 30.4% on a year-over-year basis. On average, analysts predict that Marvell Technology Group will post $1.16 earnings per share for the current fiscal year.
MRVL has been the subject of a number of recent research reports. Analysts at Zacks downgraded shares of Marvell Technology Group from an “outperform” rating to a “neutral” rating in a research note on Wednesday, July 23rd. They now have a $17.10 price target on the stock. Separately, analysts at Oppenheimer downgraded shares of Marvell Technology Group from a “market perform” rating to an “underperform” rating in a research note on Wednesday, July 9th. Finally, analysts at Susquehanna downgraded shares of Marvell Technology Group from a “positive” rating to a “neutral” rating in a research note on Friday, June 13th. They now have a $16.00 price target on the stock, down previously from $19.00.
Marvell Technology Group Ltd. (NASDAQ:MRVL) is a fabless semiconductor provider of application-specific standard products.
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