Canaccord Genuity Reiterates Buy on Marvell Technology Group (MRVL)
A number of other analysts have also recently weighed in on MRVL. Analysts at Nomura (NYSE: NMR) reiterated a “reduce” rating on shares of Marvell Technology Group in a research note to investors on Friday. Separately, analysts at Oppenheimer (NYSE: OPY) raised their EPS on shares of Marvell Technology Group in a research note to investors on Friday. They now have a “market perform” rating on the stock. Finally, analysts at Needham & Company reiterated a “buy” rating on shares of Marvell Technology Group in a research note to investors on Friday.
Marvell Technology Group traded up 2.16% on Friday, hitting $13.03. Marvell Technology Group has a 1-year low of $11.23 and a 1-year high of $16.86. The company has a market cap of $7.558 billion and a price-to-earnings ratio of 13.66.
Marvell Technology Group last released its earnings data on Thursday, May 17th. The company reported $0.23 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.20 by $0.03. Marvell Technology Group’s revenue was down .7% compared to the same quarter last year. Analysts expect that Marvell Technology Group will post $0.35 EPS next quarter.
Marvell Technology Group Ltd. (Marvell) is a fabless semiconductor provider of application-specific standard products.