Marvell Technology Group Ltd. (MRVL) is Reiterated by Barclays to Equal Weight, Raises Price Target to $ 12

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 $ 12 from a previous price target of $10 . Barclays advised their investors in a research report released on Jul 28, 2016.

Many Wall Street Analysts have commented on Marvell Technology Group Ltd.. Marvell Technology Group Ltd. was Upgraded by Northland Capital to ” Outperform” on Jul 28, 2016. Company shares were Reiterated by MKM Partners on May 3, 2016 to “Neutral”, Firm has raised the Price Target to $ 10 from a previous price target of $9 .

On the company’s financial health, Marvell Technology Group Ltd. reported $0.01 EPS for the quarter, missing the analyst consensus estimate by $ -0.06 based on the information available during the earnings call on Jul 27, 2016. Analyst had a consensus of $0.07. The company had revenue of $540.82 million for the quarter, compared to analysts expectations of $574.62 million. The company’s revenue was down -25.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.13 EPS.

Marvell Technology Group Ltd. opened for trading at $12 and hit $12.05 on the upside on Thursday, eventually ending the session at $11.89, with a gain of 1.89% or 0.22 points. The heightened volatility saw the trading volume jump to 1,73,93,658 shares. Company has a market cap of $6,078 M.

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.

Marvell Technology Group Ltd.

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