Marvell Technology Group (NASDAQ: MRVL) was upgraded by JMP Securities from an “underperform” rating to a “market perform” rating in a research note issued on Tuesday. The analysts noted that the move was a valuation call.
A number of other firms have also recently commented on MRVL. Analysts at Barclays Capital (NYSE: BCS) reiterated an “equal weight” rating on shares of Marvell Technology Group in a research note to investors on Tuesday, May 29th. Separately, analysts at Citigroup (NYSE: C) cut their price target on shares of Marvell Technology Group to $18.00 in a research note to investors on Friday, May 18th. Finally, analysts at Canaccord Genuity reiterated a “buy” rating on shares of Marvell Technology Group in a research note to investors on Friday, May 18th.
Shares of Marvell Technology Group traded up 1.33% during mid-day trading on Tuesday, hitting $12.18. Marvell Technology Group has a one year low of $11.23 and a one year high of $16.86. The company has a market cap of $6.862 billion and a P/E ratio of 12.87.
Marvell Technology Group last issued its quarterly earnings data on Thursday, May 17th. The company reported $0.23 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.20 by $0.03. Marvell Technology Group’s revenue was down .7% compared to the same quarter last year. On average, analysts predict that Marvell Technology Group will post $0.35 earnings per share next quarter.
Marvell Technology Group Ltd. (Marvell) is a fabless semiconductor provider of application-specific standard products.
