.png "Marvell (MRVL) Received its Third Buy in a Row")
After Merrill Lynch and Needham gave Marvell (NASDAQ: MRVL) a Buy rating last month, the company received another Buy, this time from Oppenheimer. Analyst Rick Schafer maintained a Buy rating on Marvell today and set a price target of $30.00. The company’s shares closed last Monday at $27.35, close to its 52-week high of $28.86.
According to TipRanks.com, Schafer is a top 25 analyst with an average return of 18.2% and a 74.4% success rate. Schafer covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Akoustis Technologies, and NXP Semiconductors.
Currently, the analyst consensus on Marvell is a Moderate Buy with an average price target of $28.79, a 4.5% upside from current levels. In a report issued on April 15, Needham also maintained a Buy rating on the stock with a $28.00 price target.
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The company has a one-year high of $28.86 and a one-year low of $16.46. Currently, Marvell has an average volume of 11.18M.
Based on the recent corporate insider activity of 90 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling 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 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.
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