Market Overview

UPDATE: BMO Capital Markets Reiterates Market Perform Rating, Raises PT on Marvell Technology Group on Upside Revenues

Share:
Related MRVL
Oppenheimer Portfolio Strategy: US MAER Best Ideas
Earnings Scheduled For August 20, 2015
Joel Greenblatt Boosts Stake in B&G Foods (GuruFocus)

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

BMO Capital Markets noted, “Marvell reported revenues of $775 million, down 1% q-q, and EPS of $0.19 above our $720 million, down 8% q-q and $0.13, respectively. At the midpoints, for FY1Q, Marvell guided for revenues of $720 million, down 7% q-q, and EPS of $0.14. We were expecting revenues to be down 3% q-q to $702 million and EPS of $0.13.”

Marvell Technology Group closed on Thursday at $9.47.

Latest Ratings for MRVL

DateFirmActionFromTo
Aug 2015Ladenburg ThalmannUpgradesNeutralBuy
Aug 2015CitigroupUpgradesSellNeutral
Jul 2015OppenheimerUpgradesUnderperformPerform

View More Analyst Ratings for MRVL
View the Latest Analyst Ratings

Posted-In: BMO Capital MarketsAnalyst Color Price Target Analyst Ratings

 

Related Articles (MRVL)

View Comments and Join the Discussion!

Get Benzinga's Newsletters