Merrill Lynch Believes Marvell (MRVL) Won’t Stop Here

In a report released today, Vivek Arya from Merrill Lynch maintained a Buy rating on Marvell (MRVL), with a price target of $50.00. The company’s shares closed last Monday at $37.44, close to its 52-week high of $39.40.

According to, Arya is a 5-star analyst with an average return of 21.3% and a 63.7% success rate. Arya covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Skyworks Solutions, and Texas Instruments.

Marvell has an analyst consensus of Strong Buy, with a price target consensus of $36.80, representing a -0.6% downside. In a report issued on July 20, Barclays also maintained a Buy rating on the stock with a $40.00 price target.

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Based on Marvell’s latest earnings release for the quarter ending April 30, the company reported a quarterly revenue of $694 million and GAAP net loss of $113 million. In comparison, last year the company earned revenue of $662 million and had a GAAP net loss of $48.45 million.

Based on the recent corporate insider activity of 86 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.

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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. 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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