Marvell Technology Group (NASDAQ:MRVL) PT Raised to $60.00 at Deutsche Bank Aktiengesellschaft


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Marvell Technology Group (NASDAQ:MRVL) had its target price upped by Deutsche Bank Aktiengesellschaft from $50.00 to $60.00 in a report released on Tuesday, The Fly reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Deutsche Bank Aktiengesellschaft’s price target would indicate a potential upside of 19.43% from the company’s previous close.

MRVL has been the topic of a number of other research reports. Benchmark upgraded shares of Marvell Technology Group to a “buy” rating and lifted their target price for the stock from $40.00 to $50.00 in a research report on Friday, October 9th. Barclays lifted their target price on shares of Marvell Technology Group from $42.00 to $50.00 and gave the stock an “overweight” rating in a research report on Friday, December 4th. Zacks Investment Research upgraded shares of Marvell Technology Group from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research report on Tuesday, November 10th. B. Riley raised their price target on shares of Marvell Technology Group from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, November 30th. Finally, Citigroup raised their price target on shares of Marvell Technology Group from $49.00 to $50.00 in a report on Friday, October 9th. Six investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Marvell Technology Group has an average rating of “Buy” and a consensus target price of $48.08.

Marvell Technology Group stock opened at $50.24 on Tuesday. The firm’s fifty day moving average price is $46.26 and its 200-day moving average price is $40.51. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.12 and a current ratio of 1.42. The stock has a market cap of $33.75 billion, a P/E ratio of 23.05, a price-to-earnings-growth ratio of 3.77 and a beta of 1.18. Marvell Technology Group has a fifty-two week low of $16.45 and a fifty-two week high of $51.23.

Marvell Technology Group (NASDAQ:MRVL) last issued its earnings results on Wednesday, December 2nd. The semiconductor company reported $0.25 EPS for the quarter, hitting analysts’ consensus estimates of $0.25. The company had revenue of $750.10 million for the quarter, compared to analysts’ expectations of $751.01 million. Marvell Technology Group had a net margin of 51.19% and a return on equity of 3.76%. The firm’s revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.17 EPS. On average, analysts predict that Marvell Technology Group will post 0.58 earnings per share for the current year.

In other Marvell Technology Group news, CEO Matthew J. Murphy sold 7,500 shares of Marvell Technology Group stock in a transaction dated Monday, November 16th. The shares were sold at an average price of $43.18, for a total value of $323,850.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mitchell Gaynor sold 19,428 shares of Marvell Technology Group stock in a transaction dated Wednesday, December 23rd. The stock was sold at an average price of $46.84, for a total transaction of $910,007.52. Following the completion of the transaction, the executive vice president now directly owns 42,754 shares of the company’s stock, valued at $2,002,597.36. The disclosure for this sale can be found here. Insiders have sold 74,062 shares of company stock worth $3,364,445 in the last three months. 0.29% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of the business. Crewe Advisors LLC raised its holdings in Marvell Technology Group by 56.5% in the third quarter. Crewe Advisors LLC now owns 673 shares of the semiconductor company’s stock worth $27,000 after buying an additional 243 shares during the last quarter. Nvwm LLC raised its holdings in Marvell Technology Group by 2.1% in the third quarter. Nvwm LLC now owns 17,637 shares of the semiconductor company’s stock worth $700,000 after buying an additional 359 shares during the last quarter. Parallel Advisors LLC raised its holdings in Marvell Technology Group by 9.2% in the third quarter. Parallel Advisors LLC now owns 4,528 shares of the semiconductor company’s stock worth $180,000 after buying an additional 381 shares during the last quarter. Signaturefd LLC raised its holdings in Marvell Technology Group by 11.4% in the third quarter. Signaturefd LLC now owns 3,946 shares of the semiconductor company’s stock worth $157,000 after buying an additional 405 shares during the last quarter. Finally, Integrated Advisors Network LLC raised its holdings in Marvell Technology Group by 3.2% in the third quarter. Integrated Advisors Network LLC now owns 15,552 shares of the semiconductor company’s stock worth $617,000 after buying an additional 488 shares during the last quarter. 77.86% of the stock is owned by institutional investors and hedge funds.

Marvell Technology Group Company Profile

Marvell Technology Group Ltd. designs, develops, and sells analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a portfolio of Ethernet solutions, including controllers, network adapters, physical transceivers, and switches; single or multiple core processors; custom application specific integrated circuits; and printer SoC products and application processors.

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