Marvell Technology Group Ltd. (MRVL) Upgraded to Outperform at CIBC

Marvell Technology Group Ltd. (MRVL) Upgraded to Outperform at CIBC

A number of other research analysts have also recently commented on MRVL. B. Riley reiterated a buy rating and set a $21.00 price target on shares of Marvell Technology Group in a research report on Wednesday, April 26th. Deutsche Bank AG increased their price target on shares of Marvell Technology Group from $16.00 to $18.00 and gave the company a hold rating in a research report on Thursday, May 25th. Oppenheimer Holdings Inc. upgraded shares of Marvell Technology Group from a market perform rating to an outperform rating and set a $18.50 price target on the stock in a research report on Friday, May 26th. Credit Suisse Group AG reiterated a buy rating and set a $18.00 price target on shares of Marvell Technology Group in a research report on Wednesday, March 1st. Finally, Zacks Investment Research upgraded shares of Marvell Technology Group from a hold rating to a buy rating and set a $18.00 price target on the stock in a research report on Monday, March 6th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $17.75.

CIBC upgraded shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) from a market perform rating to an outperform rating in a research report released on Friday.

Shares of Marvell Technology Group (MRVL) opened at 17.24 on Friday. Marvell Technology Group has a 12 month low of $9.05 and a 12 month high of $17.80. The company has a market cap of $8.69 billion, a P/E ratio of 58.24 and a beta of 1.11. The stock’s 50 day moving average is $15.58 and its 200 day moving average is $15.14. Marvell Technology Group also was the target of some unusual options trading activity on Monday. Stock investors bought 10,247 put options on the company. This represents an increase of 526% compared to the average volume of 1,638 put options.

Marvell Technology Group (NASDAQ:MRVL) last issued its quarterly earnings results on Thursday, May 25th. The semiconductor company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.04. Marvell Technology Group had a net margin of 4.33% and a return on equity of 3.28%. The business had revenue of $579.18 million for the quarter, compared to analysts’ expectations of $570.72 million. During the same period last year, the business earned $0.01 earnings per share. The business’s quarterly revenue was up 11.5% on a year-over-year basis. On average, analysts anticipate that Marvell Technology Group will post $1.11 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in MRVL. Envestnet Asset Management Inc. raised its position in shares of 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 in the last quarter. Creative Planning raised its position in shares of Marvell Technology Group by 175.3% in the first quarter. Creative Planning now owns 7,158 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 4,558 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in shares of 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 valued at $122,000 after buying an additional 7,195 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Marvell Technology Group by 1,740.4% in the first quarter. Tower Research Capital LLC TRC now owns 7,969 shares of the semiconductor company’s stock valued at $122,000 after buying an additional 7,536 shares in the last quarter. Finally, James Investment Research Inc. purchased a new position in shares of Marvell Technology Group during the first quarter valued at approximately $138,000. 73.41% of the stock is owned by institutional investors and hedge funds.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:MRVL”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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