Barclays Just Issued “Equal Weight” Rating on Marvell Technology Group Ltd. (MRVL)

Marvell Technology Group Ltd. (MRVL) was Reiterated by Barclays to “Equal Weight” according to the research note released today. The brokerage firm has raised the Price Target to $ 16 from a previous price target of $14 . Barclays advised their Clients and Investors in a research report released on Mar 3, 2017.

Based on several research reports , Company shares were Reiterated by The Benchmark Company on Mar 3, 2017 to “Hold”, Firm has raised the Price Target to $ 17 from a previous price target of $13 .Company shares were Reiterated by Barclays on Mar 3, 2017 to “Equal Weight”, Firm has raised the Price Target to $ 16 from a previous price target of $14 .Company shares were Reiterated by Barclays on Mar 3, 2017 to “Equal Weight”, Firm has raised the Price Target to $ 16 from a previous price target of $14 .Company shares were Reiterated by The Benchmark Company on Mar 3, 2017 to “Hold”, Firm has raised the Price Target to $ 17 from a previous price target of $13 .Marvell Technology Group Ltd. was Upgraded by Goldman to ” Neutral” on Mar 1, 2017.

On the company’s financial health, Marvell Technology Group Ltd. reported $0.22 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Mar 2, 2017. Analyst had a consensus of $0.19. The company had revenue of $571.40 million for the quarter, compared to analysts expectations of $567.68 million. The company’s revenue was down -5.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.11 EPS.

Several company insiders have filed Insider transactions , on Jun 25, 2015, Zining Wu (Chief Technology Officer) sold 51,312 shares at $14.51 per share price.

Marvell Technology Group Ltd. opened for trading at $16.02 and hit $16.04 on the upside on Monday, eventually ending the session at $16.02, with a gain of 0.06% or 0.01 points. The heightened volatility saw the trading volume jump to 57,07,965 shares. Company has a market cap of $8,137 M.

Marvell Technology Group Ltd. (Marvell) is a fabless semiconductor provider of application-specific standard products. The Company develops System-on-a-Chip (SoC) devices. Its product portfolio includes devices for data storage enterprise-class Ethernet data switching Ethernet physical-layer transceivers (PHY) mobile handsets connectivity Internet-of-Things (IoT) devices and other consumer electronics. Its products serve diverse applications used in carrier metropolitan enterprise and PC-client data communications and storage systems. In addition the Company serves the consumer electronics market for the convergence of voice video and data applications. As a fabless integrated circuit company the Company relies on independent third-party contractors to perform manufacturing assembly and test functions. The Company’s offers its products to three markets: mobile and wireless storage and networking.

Marvell Technology Group Ltd.

You might also like

Leave a Reply

Your email address will not be published. Required fields are marked *