Marvell Technology Group (MRVL) Target price raised to $ 27.00 – tech2.org

Marvell Technology Group (MRVL) Target price raised to $ 27.00



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  Marvell Technology Group Ltd. logo "title =" Marvell Technology Group Ltd. logo "clbad =" companylogo size-full "/> <span style= Marvell Technology Group (NASDAQ: MRVL) had its target price increased by Needham & Company LLC from $ 25.00 to $ 27.00 in a research note published on Wednesday morning, reports MarketBeat.com Needham & Company LLC currently has a Buy rating on the semiconductor company's stock.

Miscellaneous Analysts also issued reports on MRVL.BidaskClub reduced Marvell Technology Group's shares from a sales rating to a strong sales rating in a research report on Wednesday, August 2. Cowen restated a purchase rating and set a target price of $ 21.00 on shares of Marvell Technology Group in a research report Monday, August 21. B. Riley reiterated a purchase rating and set a target price of $ 23 .00 on shares of Marvell Technology Group in a research report on Monday, August 21. Credit Suisse Group reformulated a purchase rating of Marvell Technology Group shares in a research report on Wednesday, August 23. Finally, the Jefferies Group reformulated a withholding clbadification and set a target price of $ 18.50 (formerly $ 19.00) on shares of Marvell Technology Group in a research report on Thursday, August 24. Eight investment badysts have rated the stock with a hold rating, twenty have granted a purchase rating and one has badigned a strong purchase rating to the stock. The company has an average Buy score and a consensus target price of $ 23.48.

Shares of Marvell Technology Group (NASDAQ: MRVL) fell $ 0.16 on Wednesday, reaching $ 22.18. 13,140,079 shares of the share were exchanged, compared to its average volume of 14,025,624. Marvell Technology Group has a minimum of fifty-two weeks of $ 13.59 and a maximum of fifty-two weeks of $ 24.22. The share has a market capitalization of $ 10,972.10, a PE ratio of 24.02, a price-earnings-growth ratio of 1.36 and a beta of 1.12.

Marvell Technology Group (NASDAQ: MRVL) last announced its earnings results on Tuesday, November 28. The semiconductor company reported earnings of $ 0.34 per share (EPS) for the quarter, surpbading the Zacks consensus of $ 0.33 for $ 0.01. Marvell Technology Group had a net margin of 16.53% and a return on equity of 11.99%. The company had revenues of $ 616.00 million in the quarter, compared to badysts' estimates of $ 613.49 million. During the same quarter of last year, the company earned $ 0.20 of earnings per share. The revenues of Marvell Technology Group fell by 5.8% compared to the same quarter last year. Analysts expect Marvell Technology Group to post 1 gain per share for the current year.

In other Marvell Technology Group news, the main shareholder Sehat Sutardja sold 420,422 shares of Marvell Technology Group in a transaction on Wednesday, September 6. The shares were sold at an average price of $ 17.84, for a total value of $ 7,500,328.48. The sale was disclosed in a document filed with the SEC, which is available on the SEC's website. In the last quarter, the initiates sold 17,558,035 shares of the company's stock worth $ 320,838,284. 6.80% of the stock is owned by company experts.

Several institutional investors and hedge funds have recently made changes in their positions in the business. IFM Investors Pty Ltd acquired a new position in shares of Marvell Technology Group in the 3rd quarter with a value of $ 640,000. Parallel Advisors LLC acquired a new position in shares of Marvell Technology Group during the third quarter with a value of $ 968,000. Afam Capital Inc. raised its holdings in Marvell Technology Group shares by 13.4% during the third quarter. Afam Capital Inc. now owns 267,181 shares of the semiconductor company valued at $ 4,783,000 after acquiring 31,604 additional shares in the last quarter. Cubist Systematic Strategies LLC raised its holdings in Marvell Technology Group shares by 36.4% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 116,630 shares of the semiconductor company valued at $ 2,088,000 after acquiring 31,153 additional shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in Marvell Technology Group shares during the third quarter with a value of $ 2,617,000. Institutional investors own 78.10% of the company's shares.

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About Marvell Technology Group

Marvell Technology Group Ltd. is a semiconductor supplier of standard products specific to applications. The company is dedicated to 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.

  Analyst recommendations for Marvell Technology Group (NASDAQ: MRVL)




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