B.Riley FBR analyst Craig Ellis maintained a Buy rating on Marvell (MRVL) on January 11 and set a price target of $26. The company’s shares opened today at $17.13.
According to TipRanks.com, Ellis is a top 100 analyst with an average return of 18.3% and a 58.4% success rate. Ellis covers the Consumer Goods sector, focusing on stocks such as Sequans Communications S A, Applied Materials Inc, and Axcelis Technologies.
Marvell has an analyst consensus of Strong Buy, with a price target consensus of $24.38, representing a 42.3% upside. In a report issued on January 9, Rosenblatt Securities also maintained a Buy rating on the stock with a $26 price target.
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Marvell’s market cap is currently $11.39B and has a P/E ratio of 61.67. The company has a Price to Book ratio of 1.50.
Based on the recent corporate insider activity of 48 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MRVL in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Marvell Technology Group Ltd. engages in the business of providing semiconductors to high-performance application-specific standard products. It focuses on the development of complex System-on-a-Chip devices leveraging extensive technology portfolio of intellectual property in the areas of analog, mixed-signal, digital signal processing, and embedded and stand alone integrated circuits. The company’s product portfolio includes devices for data storage, enterprise-class Ethernet data switching, Ethernet physical-layer transceivers, mobile handsets, connectivity and other consumer electronics. Marvell Technology Group was founded by Sehat Sutardja, Weili Dai, and Pantas Sutardja in January 1995 and is headquartered in Hamilton, Bermuda.
