Marvell (MRVL) Receives a Hold from Morgan Stanley
In a report released today, Joseph Moore from Morgan Stanley maintained a Hold rating on Marvell (MRVL), with a price target of $25.00. The company’s shares closed last Monday at $22.59.
According to TipRanks.com, Moore is a 4-star analyst with an average return of 7.8% and a 52.2% success rate. Moore covers the Consumer Goods sector, focusing on stocks such as Applied Materials, Texas Instruments, and Western Digital.
Currently, the analyst consensus on Marvell is a Moderate Buy with an average price target of $29.15, which is a 33.8% upside from current levels. In a report issued on March 2, BMO Capital also maintained a Hold rating on the stock with a $25.00 price target.
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Based on Marvell’s latest earnings release for the quarter ending January 31, the company reported a quarterly net profit of $1.77 billion. 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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