Market Overview

UPDATE: Jefferies Raises PT on Marvell Technology Following July Quarter Revenue/EPS Report

Share:
Related MRVL
After-Hours Movers Friday: Akorn Inc., Weight Watchers International Inc.
1 Wall Street Analyst Is Watching 5 Tech Stocks Post-Mobile World Congress
After Hours Gainers / Losers (Seeking Alpha)

In a report published Friday, Jefferies analyst Mark Lipacis reiterated a Hold rating on Marvell Technology Group Ltd. (NASDAQ: MRVL), and raised the price target from $12.00 to $13.00.

In the report, Jefferies noted, “MRVL exceeded JulQ revenue and EPS expectations, driven primarily by higher-than-expected mobile and wireless demand, and guided JulQ revenues 300bps above consensus. We like the share buyback and progress in wireless, but think that a lower mix will weigh on gross margins and the P/E multiple.”

Marvell Technology Group Ltd. closed on Thursday at $12.96.

Latest Ratings for MRVL

DateFirmActionFromTo
Apr 2015Raymond JamesMaintainsOutperform
Apr 2015Cowen & CompanyInitiates Coverage onOutperform
Mar 2015UBSMaintainsNeutral

View More Analyst Ratings for MRVL
View the Latest Analyst Ratings

Posted-In: Jefferies Mark LipacisAnalyst Color Price Target Analyst Ratings

 

Related Articles (MRVL)

Around the Web, We're Loving...