Investment analysts at RBC Capital hoisted their target price on shares of Marvell Technology Group (NASDAQ:MRVL) from $17.00 to $20.00 in a note issued to investors on Friday, AmericanBankingNews.com reports. The firm currently has a “top pick” rating on the stock. RBC Capital’s target price indicates a potential upside of 44.61% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Stifel Nicolaus raised their price target on shares of Marvell Technology Group from $14.00 to $16.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Separately, analysts at Mizuho raised their price target on shares of Marvell Technology Group from $14.00 to $16.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Finally, analysts at Standpoint Research upgraded shares of Marvell Technology Group from a “hold” rating to a “buy” rating in a research note to investors on Wednesday, November 6th. They now have a $16.00 price target on the stock. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Marvell Technology Group has a consensus rating of “Hold” and a consensus price target of $13.68.
Shares of Marvell Technology Group (NASDAQ:MRVL) opened at 13.83 on Friday. 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 $6.808 billion and a P/E ratio of 31.01. Marvell Technology Group also saw some unusual options trading on Thursday. Stock traders acquired 9,671 put options on the stock. This is an increase of approximately 256% compared to the typical daily volume of 2,713 put options.
Marvell Technology Group (NASDAQ:MRVL) last released its earnings data on Thursday, November 21st. The company reported $0.32 earnings per share for the quarter, beating the analysts’ 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 previous year, the company posted $0.20 earnings per share. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. Analysts expect that Marvell Technology Group will post $0.89 EPS 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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