Market Overview

UPDATE: Jefferies Reiterates Hold Rating, Raises PT on Marvell Technology Group on Revenue and EPS

Share:
Related MRVL
Benzinga's Top Upgrades
Starboard Value's Newest Target
Marvell Catches Activist Starboard Investment; Upgraded To Buy (Investor's Business Daily)

In a report published Friday, Jefferies reiterated its Hold rating on Marvell Technology Group (NASDAQ: MRVL), and raised its price target from $8.00 to $10.00.

Jefferies noted, “MRVL exceeded Jan-13Q revenue and EPS expectations, driven primarily by higher-than-expected mobile and storage demand, and guided AprQ revenues 140bps above consensus. We like the share buyback and market share momentum in HDD and SSD, but think it will take time for its 3G wireless strategy to play out and remain on the sidelines.”

Marvell Technology Group closed on Thursday at $9.47.

Latest Ratings for MRVL

DateFirmActionFromTo
Feb 2016B. RileyUpgradesSellBuy
Oct 2015CitigroupDowngradesNeutralSell
Oct 2015B. RileyDowngradesNeutralSell

View More Analyst Ratings for MRVL
View the Latest Analyst Ratings

Posted-In: JefferiesAnalyst Color Price Target Analyst Ratings

 

Related Articles (MRVL)

View Comments and Join the Discussion!

Get Benzinga's Newsletters