Credit Suisse raised their price objective on shares of Marvell Technology Group (NASDAQ:MRVL) from $12.00 to $14.50 in a research note issued on Friday, American Banking News.com reports. Credit Suisse’s target price would indicate a potential upside of 4.84% from the company’s current price.
MRVL has been the subject of a number of other recent research reports. Analysts at JPMorgan Chase & Co. raised their price target on shares of Marvell Technology Group from $16.00 to $18.00 in a research note to investors on Friday. Separately, analysts at Deutsche Bank raised their price target on shares of Marvell Technology Group from $12.00 to $14.00 in a research note to investors on Friday. Finally, analysts at Standpoint Research reiterated a “buy” rating on shares of Marvell Technology Group in a research note to investors on Friday. They now have a $16.00 price target on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Marvell Technology Group has a consensus rating of “Buy” and a consensus target price of $14.21.
Marvell Technology Group (NASDAQ:MRVL) traded up 3.47% during mid-day trading on Friday, hitting $14.31. 4,862,243 shares of the company’s stock traded hands. Marvell Technology Group has a one year low of $6.98 and a one year high of $14.02. The stock has a 50-day moving average of $12.31 and a 200-day moving average of $11.99. The company has a market cap of $7.045 billion and a price-to-earnings ratio of 31.01. Marvell Technology Group also was the target of unusually large options trading activity on Thursday. Investors purchased 9,671 put options on the stock. This is an increase of approximately 256% compared to the average daily volume of 2,713 put options.
Marvell Technology Group (NASDAQ:MRVL) last issued its quarterly earnings data on Thursday, November 21st. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.07. The company had revenue of $931.00 million for the quarter, compared to the consensus estimate of $872.80 million. During the same quarter in the prior year, the company posted $0.20 earnings per share. The company’s quarterly revenue was up 15.4% on a year-over-year basis. Analysts expect that Marvell Technology Group will post $0.89 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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