MKM Partners Maintains Marvell Technology Group Ltd. to Neutral with Price Target $14.00

Brokerage firm MKM Partners Maintains its rating on Marvell Technology Group Ltd.(NASDAQ:MRVL). In a research note issued to the investors, the brokerage major Raises the price-target to $14.00 per share. The shares have been rated Neutral. The rating by MKM Partners was issued on Jul 28, 2016.

In a different note, On Jul 20, 2016, Deutsche Bank said it Maintains its rating on Marvell Technology Group Ltd.. In the research note, the firm Lowers the price-target to $13.00 per share. The shares have been rated ‘Hold’ by the firm.

Marvell Technology Group Ltd. (MRVL) made into the market gainers list on Thursdays trading session with the shares advancing 0.97% or 0.11 points. Due to strong positive momentum, the stock ended at $11.41, which is also near the day’s high of $11.49. The stock began the session at $11.3 and the volume stood at 38,82,805 shares. The 52-week high of the shares is $13.35 and the 52 week low is $7.4. The company has a current market capitalization of $5,833 M and it has 51,12,00,000 shares in outstanding.

Marvell Technology Group Ltd.(MRVL) last announced its earnings results on Jul 27, 2016 for Fiscal Year 2017 and Q1.Company reported revenue of $540.82M. Analysts had an estimated revenue of $657.24M. Earnings per share were $0.01. Analysts had estimated an EPS of $0.10.

Several Insider Transactions has been reported to the SEC. 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.

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