.png "Marvell (NASDAQ: MRVL)")
In a report released today, Quinn Bolton from Needham maintained a Buy rating on Marvell (MRVL), with a price target of $25. The company’s shares closed on Friday at $17.33.
Bolton commented:
“In conjunction with our industry report published this morning entitled, “CES C1H19″, we are reducing forward revenue and NG EPS estimates for the majority of our semiconductor companies under coverage including Marvell. Highlights from our CES meeting appears below.”
According to TipRanks.com, Bolton is a 5-star analyst with an average return of 11.5% and a 61.9% success rate. Bolton covers the Consumer Goods sector, focusing on stocks such as MACOM Technology Solutions Holdings Inc, Sequans Communications S A, and Quantenna Communications.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Marvell with a $24.38 average price target, representing a 40.7% upside. In a report issued on January 9, Rosenblatt Securities also maintained a Buy rating on the stock with a $26 price target.
.
See today’s analyst top recommended stocks >>
The company has a one-year high of $25.18 and a one-year low of $14.34. Currently, Marvell has an average volume of 11.45M.
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.
