Steady Stocks: Marvell Technology Group Ltd. (NASDAQ:MRVL), Internap Corporation (NASDAQ:INAP)
- Author: Zachary Reyes Mar 10, 2017,
Mar 10, 2017, 22:55
Needham & Company LLC reiterated a hold rating on shares of Marvell Technology Group in a research note on Thursday, November 3rd. The stock's average target of $11.72 is -26.34% below today's ($15.91) share price. Generally speaking, earnings are expected to grow in coming quarters.
The company provided an encouraging first-quarter guidance. Though the macro headwinds and stringent regulations might put the company's financials under pressure in the near term, we believe that the strong demand for Marvell's 4G LTE products could be a growth driver. This will be supported by growth from the company's wide range of newly-launched Internet of Things (IoT) solutions. The latest buyback scheme also reflects the company's sound financial position and favorable prospects.
The company is expected to report earnings of $-0.17 per share for the current quarter, according to consensus agreement of 6 analysts. The stock of Marvell Technology Group Ltd. (NASDAQ:MRVL) earned "Buy" rating by B. Riley & Co on Monday, February 8. Finally, Cowen and Company boosted their price target on Marvell Technology Group from $16.00 to $18.00 and gave the company an outperform rating in a research note on Friday, November 18th. Buy rating has been given by 3 analysts to the company stock whereas 4 analysts given UNDERPERFORM rating to stock and 13 analysts given HOLD rating. The stock is up 14.13% in this year through last close, and the beta ratio has a value of 1.17.
Marvell Technology Group (NASDAQ:MRVL) opened at 15.84 on Monday. Company price to earnings (P/E) ratio, which measures the relationship between the earnings of a company and its stock price, is calculated as 77.98. Marvell Technology Group has a 12 month low of $9.05 and a 12 month high of $16.37.
On November 17, 2016, it reported earnings at $0.15 a share compared with the consensus estimate of $0.05 per share (positive surprise of 200%). Internap Corporation (NASDAQ:INAP) has a Return on Assets of -23.5 percent, Return on Equity of -148.8 percent, while Return on Investment of -4.5 percent. For the quarter, revenue came in at 571.4M versus consensus estimate of 567.64M. While the actual EPS the company reported in the same quarter previous year was 0.01/share. The firm's revenue was down 3.1% compared to the same quarter a year ago.
Marvell Technology Group Ltd. (NASDAQ:MRVL) yearly performance is 63.73%.
Zacks Investment Research also rated the stock with a value of 2.15. If you are accessing this report on another publication, it was illegally stolen and reposted in violation of United States and global copyright & trademark laws. Susquehanna Upgrades Marvell Technology Group Ltd. (NASDAQ:MRVL) to Positive with no specific Price Target. AQR Capital Management LLC raised its position in Marvell Technology Group by 7.1% in the fourth quarter. The recent trading ended with the price almost -0.13 lower for the last 5 trading days, rebounding 76.49% from its 52-week low. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Marvell Technology Group by 454.8% in the fourth quarter. The company has dropped -21.37% in past 3 months and in the last five trades has moved down -5.01%. Ardsley Advisory Partners acquired a new position in Marvell Technology Group during the third quarter worth $159,000. YHB Investment Advisors Inc. bought a new position in Marvell Technology Group during the third quarter valued at about $174,000. AQR Capital Management LLC now owns 8,575,346 shares of the company's stock valued at $118,940,000 after buying an additional 568,496 shares during the period.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MRVL.
Analysts are also projecting an Average Revenue Estimate for Marvell Technology Group Ltd.as $546.49 Million in the Current Quarter. The Firm is engaged in the design, development and sale of integrated circuits.