In a report released today, Christopher Rolland from Susquehanna assigned a Buy rating to Marvell (NASDAQ: MRVL), with a price target of $29. The company’s shares opened today at $22.17.
According to TipRanks.com, Rolland is a 5-star analyst with an average return of 10.8% and a 68.3% success rate. Rolland covers the Consumer Goods sector, focusing on stocks such as Advanced Micro Devices, Power Integrations, and Maxim Integrated.
Currently, the analyst consensus on Marvell is Strong Buy and the average price target is $27.86, representing a 25.7% upside.
In a report issued on May 21, B.Riley FBR also reiterated a Buy rating on the stock with a $30 price target.
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The company has a one-year high of $25.18 and a one-year low of $14.87. Currently, Marvell has an average volume of 8.65M.
Based on the recent corporate insider activity of 48 insiders, corporate insider sentiment is negative on the stock.
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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. Its product portfolio includes devices for data storage, enterprise-class Ethernet data switching, Ethernet physical-layer transceivers, mobile handsets, connectivity and other consumer electronics. The company was founded by Sehat Sutardja, Weili Dai, and Pantas Sutardja in January 1995 and is headquartered in Hamilton, Bermuda.
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