The shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) has been pegged with a rating of Market Perform by Wells Fargo in its latest research note that was published on May 15th, 2019. Wells Fargo wasn’t the only research firm that published a report of Marvell Technology Group Ltd., with other equities research analysts also giving their opinion on the stock. Citigroup advised investors in its research note published on April 17th, 2019, to Buy the MRVL stock while also putting a $28 price target. The stock had earned Outperform rating from Cowen when it published its report on March 18th, 2019. That day the Cowen set price target on the stock to $22. The stock was given Outperform rating by Macquarie in its report released on February 19th, 2019, the day when the price target on the stock was placed at $24. Citigroup was of a view that MRVL is Buy in its latest report on December 13th, 2018. Needham thinks that MRVL is worth Buy rating. This was contained in the firm’s report on December 6th, 2018 in which the stock’s price target was also moved to $25.
Amongst the analysts that rated the stock, 0 have recommended investors to sell it, 4 believe it has the potential for further growth, thus rating it as Hold while 8 advised investors to purchase the stock. The consensus currently stands at a Hold while its average price target is $26.68. The price of the stock the last time has raised by 67.78% from its Week high price while it is raised higher than its 52-Week low price. A look at the stock’s other technical shows that its 14-day RSI now stands at 57.79.
The shares of the company dipped by -2.47% during the trading session on Wednesday, reaching a low of $23.90 while ending the day at $24.06. During the trading session, a total of 7.82 million shares were traded which represents a 38.75% incline from the average session volume which is 12.76M shares. MRVL had ended its last session trading at 24.67. Marvell Technology Group Ltd. currently has a market cap of $15.67B while its P/E earnings growth sits at 5.47, with a beta of 1.19. Marvell Technology Group Ltd. debt-to-equity ratio currently stands at 0.23, while its quick ratio hovers at 1.70. MRVL 52-week low price stands at $14.34 while its 52-week high price is $25.74.
The company in its last quarterly report recorded $0.16 earnings per share which is above the $0.14 predicted by most analysts. The Marvell Technology Group Ltd. generated $662.45 million in revenue during the last quarter, which is slightly higher than the $650.47 million predicted by analysts. In the second quarter last year, the firm recorded $0.25 earnings per share. Compared to the same quarter last year, the firm’s revenue was down by -56.25%. Marvell Technology Group Ltd. has the potential to record -0.21 EPS for the current fiscal year, according to equities analysts.
Investment analysts at JP Morgan published a research note on May 29th, 2019 where it informed investors and clients that Flex Ltd. (NASDAQ:FLEX) is now rated as Overweight. Citigroup also rated FLEX as Reiterated on April 17th, 2019, with its price target of $28 suggesting that FLEX could surge by 33.12% from its current share price. Even though the stock has been trading at $9.60/share, analysts expect it to surge higher by -1.98% to reach $14.07/share. It started the day trading at $9.56 and traded between $9.34 and $9.41 throughout the trading session.
A look at its technical shows that FLEX’s 50-day SMA is 10.41 while its 200-day SMA stands at 10.14. The stock has a high of $15.38 for the year while the low is $6.74. The company’s P/E ratio currently sits at 55.35, while the P/B ratio is 1.65. At the moment, only of Flex Ltd. shares were sold short. The company’s average trading volume currently stands at 6.11M shares, which means that the short-interest ratio is just 2.00 days. Over the past seven days, the company moved, with its shift of 0.64%. Looking further, the stock has dropped -7.20% over the past 90 days while it gained 14.62% over the last six months.
The change in the stock’s fortunes has led to several institutional investors altering their holdings of the stock. PRIMECAP Management Co bought more FLEX shares, increasing its portfolio by +0.29% during the last quarter. This move now sees PRIMECAP Management Co purchasing 221,900 shares in the last quarter, thus it now holds 77,418,159 shares of FLEX, with a total valuation of $692,118,341. Wellington Management Co LLP meanwhile sold more FLEX shares in the recently filed quarter, changing its stake to $342,198,749 worth of shares. Glenview Capital Management LLC followed the path by increasing its FLEX portfolio by +31.12% in the quarter. This means that Glenview Capital Management LLC bought 4,876,265 shares in the last quarter and now controls 20,543,849 shares of the FLEX stock, with the valuation hitting $183,662,010.
Similarly, Henderson Global Investors Ltd decreased its Flex Ltd. shares by -0.30% during the recently filed quarter. After selling -61,586 shares in the last quarter, the firm now controls 20,300,421 shares of Flex Ltd. which are valued at $181,485,764. In the same vein, Lyrical Asset Management LP increased its Flex Ltd. shares by during the most recent reported quarter. The firm bought 1,443,035 shares during the quarter which increased its stakes to 17,513,870 shares and is now valued at $156,573,998. Following these latest developments, around 0.90% of Flex Ltd. stocks are owned by institutional investors and hedge funds.