Marvell (MRVL) Received its Third Buy in a Row

After Barclays and UBS gave Marvell (NASDAQ: MRVL) a Buy rating last month, the company received another Buy, this time from Needham. Analyst Quinn Bolton maintained a Buy rating on Marvell today and set a price target of $28. The company’s shares closed yesterday at $21.74.

According to TipRanks.com, Bolton is a top 100 analyst with an average return of 15.3% and a 65.0% success rate. Bolton covers the Consumer Goods sector, focusing on stocks such as MACOM Technology Solutions Holdings Inc, Quantenna Communications, and Applied Materials Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Marvell with a $25.94 average price target, a 19.3% upside from current levels. In a report issued on May 6, Susquehanna also reiterated a Buy rating on the stock.

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The company has a one-year high of $25.74 and a one-year low of $14.34. Currently, Marvell has an average volume of 12.62M.

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Marvell Technology Group Ltd. engages in the design, development, and sale of integrated circuits. The company offers System-on-a-Chip devices, which leverages technology portfolio of intellectual property in the areas of analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits.