Sun. Apr 14th, 2024

TLDR:

  • UBS analyst is optimistic about Marvell Technology, raising price target to $83 and maintaining a Buy rating.
  • Nvidia also has a Buy rating with a price target of $560.00.

UBS analyst Timothy Arcuri is optimistic about the future of Marvell Technology, giving it a Buy rating and raising the price target to $83 on February 27, 2024. Marvell Technology, Inc. specializes in designing and selling integrated circuits, with its stock closing at $52.62. The company has shown a 34.47% increase in the past year, slightly underperforming other stocks in the Semiconductors industry. Marvell Technology stock is currently +55.91% from its 52-week low and -22.61% from its 52-week high. Despite recent insider selling, the company does not offer dividends. Additionally, UBS analyst Timothy Arcuri maintains a Buy rating on Nvidia (NVDA) with a price target of $560.00. Nvidia is renowned for its computer graphics processors, chipsets, and multimedia software. The company operates in two segments: Graphics and Compute & Networking, reporting a quarterly revenue of $13.51 billion in its latest earnings release. Looking ahead to 2023, UBS is bullish on the semiconductor sector, anticipating momentum to increase in the latter part of the year. Arcuri noted that investors’ portfolios are still underweight on semiconductor companies, but hedge funds are beginning to show more positive positioning. UBS’s top picks for the sector include Intel (INTC), Advanced Micro Devices (AMD), Micron Technology (MU), Nvidia (NVDA), Marvell Technology (MRVL), Broadcom (AVGO), Teradyne (TER), Lam Research (LRCX), and Analog Devices (ADI).

MRVL Stock Analysis: Strong Revenue Growth and Progress Towards Profitability On February 27, 2024, MRVL stock exhibited strong performance based on the financial data provided by CNN Money. The company reported total revenue of $5.92 billion over the past year, which represents a significant increase of 32.66% compared to the previous year. Additionally, total revenue for the most recent quarter was reported at $1.42 billion, showing a 5.79% increase since the last quarter. Despite the positive revenue growth, MRVL reported a net income of -$163.50 million for the past year and -$164.30 million for the most recent quarter. However, it is worth noting that the net income has actually increased by 61.17% since the previous year and by 20.82% since the last quarter. This indicates that the company is making progress towards profitability. Furthermore, the earnings per share (EPS) for MRVL were reported at -$0.19 for both the past year and the most recent quarter. Despite the negative EPS, there has been a significant improvement in this metric, with a 63.66% increase since the previous year and a 20.95% increase since the last quarter. Overall, MRVL stock has shown strong performance on February 27, 2024, with notable increases in total revenue, net income, and earnings per share. Investors may view these positive financial indicators as a sign of the company’s growth potential and may consider MRVL as a viable investment option in the tech sector.