Needham Keeps a Buy Rating on Marvell (MRVL)

By Jason Carr

In a report issued on May 31, Quinn Bolton from Needham maintained a Buy rating on Marvell (MRVLResearch Report), with a price target of $28. The company’s shares closed on Friday at $22.30.

According to TipRanks.com, Bolton is a top 100 analyst with an average return of 15.0% and a 64.8% success rate. Bolton covers the Consumer Goods sector, focusing on stocks such as MACOM Technology Solutions Holdings Inc, Quantenna Communications, and Applied Materials Inc.

Currently, the analyst consensus on Marvell is a Strong Buy with an average price target of $26.35, representing a 18.2% upside. In a report issued on May 20, Rosenblatt Securities also maintained a Buy rating on the stock with a $24 price target.

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The company has a one-year high of $25.74 and a one-year low of $14.34. Currently, Marvell has an average volume of 12.94M.

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Marvell Technology Group Ltd. engages in the design, development, and sale of integrated circuits. The company offers System-on-a-Chip devices, which leverages technology portfolio of intellectual property in the areas of analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits.