2 Reasons Marvell Technology Could Keep Getting Better
Marvell Technology Group (NASDAQ: MRVL) is showing no signs of slowing down. Shares of the chipmaker jumped more than 7% after it reported its latest results in late August, topping Wall Street estimates thanks to a strong performance by the company's storage business. Shares have continued to rise since then and the stock is up about 30% so far this year.
But investors who have missed Marvell Technology's rise so far in 2017 shouldn't feel they've missed out. The company is well-placed to ride secular growth trends in the storage and the automotive end markets, which could boost its revenue and earnings. Let's take a look at how these two areas are going to impact Marvell's fortunes.
Image source: Marvell Technology.
Source: Fool.com
Marvell Technology Inc. Stock
€63.42
-10.810%
The stock is one of the favorites of our community with 45 Buy predictions and 2 Sell predictions.
With a target price of 78 € there is a positive potential of 22.99% for Marvell Technology Inc. compared to the current price of 63.42 €.
