Bullish Stance on Marvell Technology; Vipshop Beats Q2 Estimates
- August 18th, 2023
- 275 views
Marvell Technology, Inc. (Nasdaq: MRVL), a prominent semiconductor company specializing in data infrastructure solutions, has been upgraded from Neutral to Buy by B. Riley Securities, coupled with an increased price target from $60 to $75.
With $MRVL closing at $57.56 on Monday, the adjusted price target suggests a potential upside of $17.44 or approximately 30.27%, based on the investment firm's outlook.
In other news, Vipshop Holdings Limited (NYSE: VIPS), a leading online discount retailer in China, reported second-quarter 2023 adjusted earnings of $0.59 per share, exceeding the analyst consensus estimate of $0.44. The company's quarterly sales amounted to $3.84 billion, slightly above analysts' projected revenue of $3.83 billion.
In pre-market, $VIPS was trading at $15.60, down $0.63 (-3.88%).
THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY OR DIGITAL ASSET. Please consult with a professional investment advisor before purchasing or selling any securities viewed on or mentioned herein. (Read Full Disclaimer)
Post Your Comments
Want To Find Some News?
Recent Posts
-
Earnings Countdown: Lockheed Martin, Stryker, and PACCAR Gear Up
January 26th, 2025Earnings Spotlight: SoFi Technologies, Sanmina, and Nucor Set to Report
January 26th, 2025Global Flag Football League Plans To Host Pro Flag Football Tournament in Las Vegas
January 23rd, 2025Earnings On Deck: Netflix, United Airlines, and Agilysys Gear Up
January 19th, 2025
Member Login