Marvell Receives a Sell from UBSBy Ryan Adsit
In a report released today, Stephen Chin from UBS reiterated a Sell rating on Marvell (NASDAQ: MRVL), with a price target of $12. The company’s shares closed yesterday at $14.34, close to its 52-week high of $15.00.
According to TipRanks.com, Chin is a 5-star analyst with an average return of 9.7% and a 66.4% success rate. Chin covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Rubicon Technology, and Applied Materials.
Currently, the analyst consensus on Marvell is Hold and the average price target is $14.97, representing a 4.4% upside.
In a report issued on November 18, Merrill Lynch also reiterated a Sell rating on the stock with a $11.75 price target.
The company has a one year high of $15.00 and a one year low of $7.40. Currently, Marvell has an average volume of 5.46M.
Based on the recent corporate insider activity of 18 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MRVL in relation to earlier this year.
Marvell Technology Group Ltd. engages in the business of providing semiconductors to high-performance application-specific standard products. The company focuses on the development of complex System-on-a-Chip devices leveraging extensive technology portfolio of intellectual property in the areas of analog, mixed-signal, digital signal processing, and embedded and stand alone integrated circuits. Its product portfolio includes devices for data storage, enterprise-class Ethernet data switching, Ethernet physical-layer transceivers, mobile handsets, connectivity and other consumer electronics. The company was founded by Sehat Sutardja, Weili Dai and Pantas Sutardja in January 1995 and is headquartered in Hamilton, Bermuda.