.png "Raymond James Keeps a Hold Rating on Marvell (MRVL)")
Raymond James analyst Chris Caso maintained a Hold rating on Marvell (MRVL) yesterday. The company’s shares closed last Thursday at $42.75, close to its 52-week high of $43.72.
According to TipRanks.com, Caso is a 5-star analyst with an average return of 14.3% and a 58.2% success rate. Caso covers the Technology sector, focusing on stocks such as NXP Semiconductors, Skyworks Solutions, and SiTime Corporation.
Marvell has an analyst consensus of Strong Buy, with a price target consensus of $44.73, representing a 3.6% upside. In a report released today, Craig-Hallum also downgraded the stock to Hold.
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Based on Marvell’s latest earnings release for the quarter ending July 31, the company reported a quarterly revenue of $727 million and GAAP net loss of $158 million. In comparison, last year the company earned revenue of $657 million and had a GAAP net loss of $57.33 million.
Based on the recent corporate insider activity of 78 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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