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Marvell Technology Group Ltd. (NASDAQ:MRVL) on the Path to Ruin

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Marvell Technology Group Ltd. (MRVL) shares are trading at lower $38.32 and the avg recommendation for the stock is Moderate Buy. while the current analyst price target stands at $38.22.

To add more color to this target, the company’s high over the last year is $41.34 and the low is $16.45. Over the last 52 weeks, MRVL is up 54.08% while the S&P 500 is up 15.97%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, MRVL reported a profit of $359.26 million. Marvell Technology Group Ltd. also saw revenues increase to $727.3 million. In addition, MRVL has free cash flow of $348.57 million as of 07-2020. The company’s EBITDA came in at $11.92 million which compares well with its peers.

MRVL booked profit margins of 56.60%, its Return on Equity (ROE) is 20.10%, and its Return on Assets is 14.90%. All told, it is clear that, MRVL needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. MRVL has a short ratio of 1.82 and outstanding shares of 663.55M.

Company Outlook

MRVL has seen increased volume after this news and investors are putting their support behind the value proposition. Traders will also note the company’s earnings per share came in at 1.99. Marvell Technology Group Ltd. MRVL also noted assets of $10.93 billion at the end of the last quarter. Investors should also keep an eye on sector updates as MRVL has historically followed its peers on positive news.

All told, Marvell Technology Group Ltd. MRVL has strung together solid data and demonstrated underlying fundamentals. At its current valuation, MRVL represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Marvell Technology Group Ltd. MRVL is now commanding a market cap of 23.93B and a float of 659.12M. MRVL is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of MRVL stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in MRVL, either long or short, and we have not been compensated for this article.

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