Marvell (MRVL) Receives a Rating Update from a Top Analyst

Needham analyst Quinn Bolton maintained a Buy rating on Marvell (MRVLResearch Report) today and set a price target of $29.00. The company’s shares closed last Monday at $24.17.

According to TipRanks.com, Bolton is a top 25 analyst with an average return of 21.7% and a 71.4% success rate. Bolton covers the Consumer Goods sector, focusing on stocks such as MACOM Technology Solutions Holdings, Advanced Energy Industries, and Ultra Clean Holdings.

Currently, the analyst consensus on Marvell is a Strong Buy with an average price target of $29.50, a 23.4% upside from current levels. In a report issued on November 26, Rosenblatt Securities also reiterated a Buy rating on the stock with a $28.00 price target.

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The company has a one-year high of $28.38 and a one-year low of $14.34. Currently, Marvell has an average volume of 7.16M.

Based on the recent corporate insider activity of 83 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MRVL in relation to earlier this year.

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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.