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Marvell Technology Group (NASDAQ:MRVL) was upgraded by stock analysts at Standpoint Research from a “hold” rating to a “buy” rating in a report issued on Thursday. The firm currently has a $17.00 target price on the stock. Standpoint Research’s target price would suggest a potential upside of 28.21% from the company’s current price.

A number of other firms have also recently commented on MRVL. 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Marvell Technology Group currently has an average rating of “Buy” and an average target price of $16.64.

Marvell Technology Group (NASDAQ:MRVL) traded up 1.66% on Thursday, hitting $13.4799. 1,718,489 shares of the company’s stock traded hands. Marvell Technology Group has a 52 week low of $10.87 and a 52 week high of $16.65. The stock’s 50-day moving average is $13.86 and its 200-day moving average is $15.04. The company has a market cap of $6.850 billion and a price-to-earnings ratio of 18.65. Marvell Technology Group also was the recipient of a significant growth in short interest in the month of July. As of July 31st, there was short interest totalling 7,405,099 shares, a growth of 31.8% from the July 15th total of 5,618,645 shares. Approximately 1.9% of the shares of the stock are short sold. Based on an average trading volume of 6,381,774 shares, the short-interest ratio is presently 1.2 days.

Marvell Technology Group (NASDAQ:MRVL) last issued its quarterly earnings data on Thursday, May 22nd. The company reported $0.27 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.19 earnings per share. Marvell Technology Group’s revenue was up 30.4% compared to the same quarter last year. On average, analysts predict that Marvell Technology Group will post $1.16 earnings per share for the current fiscal year.

Marvell Technology Group Ltd. (NASDAQ:MRVL) is a fabless semiconductor provider of application-specific standard products.

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