Marvell (MRVL) Received its Third Buy in a Row
After Oppenheimer and Needham gave Marvell (NASDAQ: MRVL) a Buy rating last month, the company received another Buy, this time from Rosenblatt Securities. Analyst Hans Mosesmann reiterated a Buy rating on Marvell today and set a price target of $32.00. The company’s shares closed last Monday at $21.86.
According to TipRanks.com, Mosesmann is a 5-star analyst with an average return of 8.6% and a 51.4% success rate. Mosesmann covers the Consumer Goods sector, focusing on stocks such as Texas Instruments, Monolithic Power, and Lattice Semicon.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Marvell with a $29.14 average price target.
See today’s analyst top recommended stocks >>
Based on Marvell’s latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $718 million and net profit of $1.77 billion. In comparison, last year the company earned revenue of $745 million and had a GAAP net loss of $261 million.
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 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. It also develops integrated hardware platforms along with software that incorporates digital computing technologies designed and configured to provide an optimized computing solution. The company was founded by Sehat Sutardja, Weili Dai and Pantas Sutardja in January 1995 and is headquartered in Hamilton, Bermuda.
Read More on MRVL: