Barclays Maintains Overweight Rating for Marvell Tech: Here's What You Need To Know

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Barclays has decided to maintain its Overweight rating of Marvell Tech MRVL and lower its price target from $90.00 to $80.00.

Shares of Marvell Tech are trading up 1.7% over the last 24 hours, at $59.44 per share.

A move to $80.00 would account for a 34.6% increase from the current share price.

About Marvell Tech

Marvell Technology is a leading fabless chipmaker focused on networking and storage applications. Marvell serves the data center, carrier, enterprise, automotive, and consumer end markets with processors, optical interconnections, application-specific integrated circuits (ASICs), and merchant silicon for Ethernet applications. The firm is an active acquirer, with five large acquisitions since 2017 helping it pivot out of legacy consumer applications to focus on the cloud and 5G markets.

About Analyst Ratings

Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.

Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along with analyst success scores in Benzinga Pro.

This article was generated by Benzinga's automated content engine and reviewed by an editor.

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