Marvell Technology Group Ltd. (MRVL) Rating Reiterated by B. Riley
Marvell Technology Group Ltd. (NASDAQ:MRVL)‘s stock had its “buy” rating reaffirmed by equities research analysts at B. Riley in a research note issued on Saturday. They currently have a $23.00 price objective on the semiconductor company’s stock. B. Riley’s price objective would indicate a potential upside of 30.16% from the stock’s previous close.
MRVL has been the subject of several other research reports. Cowen and Company boosted their price objective on Marvell Technology Group from $20.00 to $21.00 and gave the company an “outperform” rating in a research report on Monday, March 13th. Jefferies Group LLC reiterated a “hold” rating and issued a $18.00 price objective on shares of Marvell Technology Group in a research report on Monday, March 13th. Oppenheimer Holdings Inc. upgraded Marvell Technology Group from a “market perform” rating to an “outperform” rating and set a $18.50 price objective for the company in a research report on Friday. Credit Suisse Group AG reiterated a “buy” rating and issued a $18.00 price objective on shares of Marvell Technology Group in a research report on Wednesday, March 1st. Finally, Benchmark Co. restated a “hold” rating and set a $17.00 target price (up previously from $13.00) on shares of Marvell Technology Group in a report on Friday, March 3rd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $17.68.
Marvell Technology Group (NASDAQ:MRVL) traded up 4.31% on Friday, reaching $17.67. 20,181,981 shares of the company’s stock traded hands. The firm’s 50-day moving average is $15.44 and its 200 day moving average is $15.04. The firm has a market cap of $8.90 billion, a PE ratio of 59.70 and a beta of 1.11. Marvell Technology Group has a 12 month low of $9.05 and a 12 month high of $17.76. Marvell Technology Group also was the recipient of some unusual options trading on Thursday. Investors acquired 30,661 call options on the stock. This represents an increase of approximately 930% compared to the average daily volume of 2,977 call options.
Marvell Technology Group (NASDAQ:MRVL) last announced its quarterly earnings data on Thursday, May 25th. The semiconductor company reported $0.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.04. Marvell Technology Group had a return on equity of 3.28% and a net margin of 4.33%. The firm had revenue of $579.18 million during the quarter, compared to the consensus estimate of $570.72 million. During the same quarter in the previous year, the company posted $0.01 earnings per share. The business’s revenue was up 11.5% on a year-over-year basis. Equities analysts predict that Marvell Technology Group will post $1.01 EPS for the current year.
COPYRIGHT VIOLATION WARNING: “Marvell Technology Group Ltd. (MRVL) Rating Reiterated by B. Riley” was originally published by American Banking News and is the property of of American Banking News. If you are viewing this piece of content on another website, it was copied illegally and republished in violation of international copyright & trademark legislation. The original version of this piece of content can be accessed at https://www.americanbankingnews.com/2017/05/27/marvell-technology-group-ltd-mrvl-rating-reiterated-by-b-riley.html.
Several large investors have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. boosted its stake in Marvell Technology Group by 103.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 7,258 shares of the semiconductor company’s stock valued at $102,000 after buying an additional 3,696 shares during the period. Daiwa Securities Group Inc. increased its position in Marvell Technology Group by 23.6% in the second quarter. Daiwa Securities Group Inc. now owns 11,000 shares of the semiconductor company’s stock worth $105,000 after buying an additional 2,100 shares in the last quarter. Creative Planning increased its position in Marvell Technology Group by 175.3% in the first quarter. Creative Planning now owns 7,158 shares of the semiconductor company’s stock worth $109,000 after buying an additional 4,558 shares in the last quarter. Hartford Investment Management Co. purchased a new position in Marvell Technology Group during the second quarter worth $110,000. Finally, Ladenburg Thalmann Financial Services Inc. increased its position in Marvell Technology Group by 454.8% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,777 shares of the semiconductor company’s stock worth $122,000 after buying an additional 7,195 shares in the last quarter. 73.41% of the stock is currently owned by institutional investors.
Marvell Technology Group Company Profile
Marvell Technology Group Ltd. is a semiconductor provider of application-specific standard products. The Company is engaged in the design, development and sale of integrated circuits. The Company develops System-on-a-Chip (SoC) devices. It also develops integrated hardware platforms along with software that incorporates digital computing technologies designed and configured to provide an optimized computing solution.
Receive News & Ratings for Marvell Technology Group Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marvell Technology Group Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.