.png "Wells Fargo Maintains a Hold Rating on Marvell (MRVL)")
Wells Fargo analyst Gary Mobley maintained a Hold rating on Marvell (MRVL) yesterday. The company’s shares closed last Thursday at $45.52, close to its 52-week high of $45.82.
According to TipRanks.com, Mobley is a 5-star analyst with an average return of 21.0% and a 71.9% success rate. Mobley covers the Technology sector, focusing on stocks such as Allegro MicroSystems, NXP Semiconductors, and Skyworks Solutions.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Marvell with a $50.00 average price target.
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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.
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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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