Rosenblatt Securities analyst Hans Mosesmann reiterated a Buy rating on Marvell (NASDAQ:MRVL) on Tuesday, setting a price target of $60, which is approximately 29.62% above the present share price of $46.29.
Mosesmann expects Marvell to post earnings per share (EPS) of -$0.24 for the fourth quarter of 2020.
The current consensus among 20 TipRanks analysts is for a Strong Buy rating of shares in Marvell, with an average price target of $50.
The analysts price targets range from a high of $60 to a low of $40.
In its latest earnings report, released on 07/31/2020, the company reported a quarterly revenue of $727.3 million and a net profit of -$30.68 million. The company's market cap is $29.95 billion.
According to TipRanks.com, Rosenblatt Securities analyst Hans Mosesmann is currently ranked with 5 stars on a 0-5 stars ranking scale, with an average return of 24.7% and a 69.08% success rate.
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. It also develops integrated hardware platforms along with software that incorporates digital computing technologies designed and configured to provide an optimized computing solution. The company was founded by Sehat Sutardja, Weili Dai and Pantas Sutardja in January 1995 and is headquartered in Hamilton, Bermuda.