Susquehanna Sticks to Their Buy Rating for Marvell

By Jason Carr

Susquehanna analyst Christopher Rolland reiterated a Buy rating on Marvell (NASDAQ: MRVL) today and set a price target of $22. The company’s shares opened today at $15.27.

According to TipRanks.com, Rolland is a 5-star analyst with an average return of 9.3% and a 63.9% success rate. Rolland covers the Technology sector, focusing on stocks such as International Rectifier, Advanced Micro Devices, and Integrated Device Tech.

Currently, the analyst consensus on Marvell is Moderate Buy and the average price target is $18.91, representing a 23.8% upside.

In a report released today, UBS also maintained a Buy rating on the stock with a $21 price target.

Based on Marvell’s latest earnings report for the quarter ending January 31, the company posted quarterly revenue of $571 million and GAAP net loss of $80.09 million. In comparison, last year the company earned revenue of $541 million and had a GAAP net loss of $22.68 million.

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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.