Oppenheimer analyst Rick Schafer assigned a Buy rating to Marvell (MRVL) today and set a price target of $35.00. The company’s shares closed last Wednesday at $37.05, close to its 52-week high of $39.40.
According to TipRanks.com, Schafer is a top 100 analyst with an average return of 19.2% and a 77.0% 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 $36.00, a -2.2% downside from current levels. In a report issued on July 7, Needham also maintained a Buy rating on the stock with a $39.00 price target.
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Marvell’s market cap is currently $24.77B and has a P/E ratio of 16.40. The company has a Price to Book ratio of 92.69.
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.