Marvell Technology Group Ltd. (MRVL) was Reiterated by MKM Partners to “Neutral” according to the research note released today. The brokerage firm has raised the Price Target to $ 10 from a previous price target of $9 . MKM Partners advised their investors in a research report released on May 3, 2016.
Many Wall Street Analysts have commented on Marvell Technology Group Ltd.. Company shares were Reiterated by Deutsche Bank on Apr 6, 2016 to “Hold”, Firm has raised the Price Target to $ 13 from a previous price target of $10 .Marvell Technology Group Ltd. was Downgraded by Standpoint Research to ” Hold” on Apr 6, 2016. Marvell Technology Group Ltd. was Upgraded by Brean Capital to ” Buy” on Apr 5, 2016.
On the company’s financial health, Marvell Technology Group Ltd. reported $0.05 EPS for the quarter, missing the analyst consensus estimate by $ -0.09 based on the information available during the earnings call on Dec 7, 2015. Analyst had a consensus of $0.14. The company had revenue of $674.10 million for the quarter, compared to analysts expectations of $732.90 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 $0.29 EPS.
Marvell Technology Group Ltd. closed down -0.23 points or -2.30% at $9.75 with 54,10,184 shares getting traded on Monday. Post opening the session at $9.92, the shares hit an intraday low of $9.68 and an intraday high of $10.0089 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Jun 25, 2015, Zining Wu (Chief Technology Officer) sold 51,312 shares at $14.51 per share price.
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.