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.