In a report released today, Christopher Rolland from Susquehanna reiterated a Buy rating on Marvell (MRVL), with a price target of $32.00. The company’s shares closed last Monday at $22.59.
According to TipRanks.com, Rolland is a 5-star analyst with an average return of 11.3% and a 62.2% success rate. Rolland covers the Consumer Goods sector, focusing on stocks such as Power Integrations, Skyworks Solutions, and Texas Instruments.
Marvell has an analyst consensus of Strong Buy, with a price target consensus of $29.09, implying a 33.6% upside from current levels. In a report issued on February 28, Oppenheimer also maintained a Buy rating on the stock with a $30.00 price target.
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Based on Marvell’s latest earnings release for the quarter ending October 31, the company reported a quarterly GAAP net loss of $82.5 million. In comparison, last year the company had a GAAP net loss of $261 million.
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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.
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