Marvell Technology Group PT Lowered to $17.00 at MKM Partners (MRVL)
Stock analysts at MKM Partners dropped their price target on shares of Marvell Technology Group (NASDAQ:MRVL) from $19.00 to $17.00 in a report issued on Monday. The firm currently has a “buy” rating on the stock. MKM Partners’ price objective would indicate a potential upside of 27.53% from the company’s current price.
A number of other analysts have also recently weighed in on MRVL. Analysts at Standpoint Research upgraded shares of Marvell Technology Group from a “hold” rating to a “buy” rating in a research note on Thursday. They now have a $17.00 price target on the stock. Separately, 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. Finally, 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. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Marvell Technology Group currently has an average rating of “Buy” and a consensus price target of $16.65.
Marvell Technology Group (NASDAQ:MRVL) traded up 0.34% during mid-day trading on Monday, hitting $13.375. The stock had a trading volume of 2,188,930 shares. Marvell Technology Group has a 1-year low of $10.87 and a 1-year high of $16.65. The stock has a 50-day moving average of $13.79 and a 200-day moving average of $15.01. The company has a market cap of $6.797 billion and a price-to-earnings ratio of 18.75.
Marvell Technology Group (NASDAQ:MRVL) last released its 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 in the previous year, the company posted $0.19 earnings per share. The company’s revenue for the quarter was up 30.4% on a year-over-year basis. On average, analysts predict that Marvell Technology Group will post $1.15 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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