Marvell Technology Group Ltd. (MRVL) Stock Price Up 1.8%
Shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) rose 1.8% during trading on Monday . The company traded as high as $12.38 and last traded at $12.37, with a volume of 3,583,786 shares trading hands. The stock had previously closed at $12.15.
MRVL has been the subject of a number of recent research reports. BMO Capital Markets reiterated a “hold” rating on shares of Marvell Technology Group in a report on Monday, June 13th. Jefferies Group reissued a “hold” rating on shares of Marvell Technology Group in a research note on Wednesday, July 20th. MKM Partners increased their price target on shares of Marvell Technology Group from $10.00 to $14.00 and gave the company a “neutral” rating in a research note on Thursday, July 28th. Oppenheimer Holdings Inc. reissued a “market perform” rating on shares of Marvell Technology Group in a research note on Friday, July 22nd. Finally, B. Riley reissued a “buy” rating and issued a $16.00 price target on shares of Marvell Technology Group in a research note on Saturday, July 30th. Four investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and seven have issued a buy rating to the company’s stock. Marvell Technology Group presently has a consensus rating of “Hold” and a consensus target price of $11.71.
The firm’s market cap is $6.35 billion. The company’s 50-day moving average price is $10.98 and its 200-day moving average price is $10.15.
Marvell Technology Group (NASDAQ:MRVL) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by $0.06. The business had revenue of $540.82 million for the quarter, compared to the consensus estimate of $652.65 million. During the same period in the prior year, the company posted $0.25 EPS. The firm’s revenue for the quarter was down 25.3% compared to the same quarter last year. Equities research analysts anticipate that Marvell Technology Group Ltd. will post $0.40 EPS for the current year.
An institutional investor recently raised its position in Marvell Technology Group stock. State of Tennessee Treasury Department raised its stake in Marvell Technology Group Ltd. (NASDAQ:MRVL) by 15.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 920,000 shares of the company’s stock after buying an additional 120,000 shares during the period. State of Tennessee Treasury Department owned about 0.18% of Marvell Technology Group worth $8,114,000 as of its most recent SEC filing.
Marvell Technology Group Ltd. (Marvell) is a fabless semiconductor provider of application-specific standard products. The Company develops System-on-a-Chip (SoC) devices. Its product portfolio includes devices for data storage, enterprise-class Ethernet data switching, Ethernet physical-layer transceivers (PHY), mobile handsets, connectivity, Internet-of-Things (IoT) devices and other consumer electronics.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.