Oppenheimer Has Positive Earnings Outlook Update for Marvell Technology Group (MRVL)
Equities research analysts at Oppenheimer (NYSE: OPY) increased their earnings per share estimates on shares of Marvell Technology Group (NASDAQ: MRVL) in a research note issued to investors on Friday. The firm currently has a “market perform” rating on the company’s shares.
A number of other analysts have also recently weighed in on MRVL. Analysts at Needham & Company reiterated a “buy” rating on shares of Marvell Technology Group in a research note to investors on Friday. Separately, analysts at Barclays Capital (NYSE: BCS) reiterated an “equalweight” rating on shares of Marvell Technology Group in a research note to investors on Monday, May 14th. Finally, analysts at UBS AG (NYSE: UBS) downgraded shares of Marvell Technology Group from a “buy” rating to a “neutral” rating in a research note to investors on Wednesday, May 9th. They now have a $14.00 price target on the stock, down previously from $18.00.
Marvell Technology Group opened at 12.91 on Friday. 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 $7.488 billion and a price-to-earnings ratio of 13.66.
Marvell Technology Group last posted its quarterly earnings results 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.