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Susquehanna Remains a Buy on Marvell (MRVL)

Tipranks - Tipranks - Thu Oct 8, 6:36AM CDT

Susquehanna analyst Christopher Rolland reiterated a Buy rating on Marvell yesterday and set a price target of $340.00. The company’s shares closed yesterday at $287.01.

According to TipRanks, Rolland is a top 100 analyst with an average return of 45.0% and a 65.94% success rate. Rolland covers the Technology sector, focusing on stocks such as ON Semiconductor, MACOM Technology Solutions Holdings, and Advanced Micro Devices.

In addition to Susquehanna, Marvell also received a Buy from J.P. Morgan’s Harlan Sur in a report issued today. However, on the same day, Morgan Stanley maintained a Hold rating on Marvell (NASDAQ: MRVL).

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Based on Marvell’s latest earnings release for the quarter ending August 1, the company reported a quarterly revenue of $2.74 billion and a net profit of $308 million. In comparison, last year the company earned a revenue of $2.01 billion and had a net profit of $194.8 million

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