.png "Marvell (MRVL) Gets a Buy Rating from Oppenheimer")
In a report released today, Rick Schafer from Oppenheimer maintained a Buy rating on Marvell (MRVL), with a price target of $60.00. The company’s shares closed last Thursday at $45.25.
According to TipRanks.com, Schafer is a top 100 analyst with an average return of 24.0% and a 79.6% success rate. Schafer covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Akoustis Technologies, and Skyworks Solutions.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Marvell with a $54.94 average price target, a 15.0% upside from current levels. In a report released yesterday, KeyBanc also reiterated a Buy rating on the stock with a $55.00 price target.
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Based on Marvell’s latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $798 million and net profit of $16.54 million. In comparison, last year the company earned revenue of $718 million and had a net profit of $1.77 billion.
Based on the recent corporate insider activity of 103 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. is a semiconductor company. It designs, develops and markets analog, mixed and digital signal processing, and embedded and standalone integrated circuits. The company has operations in the United States, Singapore, Japan, South Korea, India, Israel, China, Taiwan, Malaysia, the Philippines, Thailand, and Vietnam.
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