Analyst Upgrades: Gilead Sciences, Inc., Micron Technology, Inc., and Marvell Technology Group Ltd.

Analysts upwardly revised their ratings on GILD, MU, and MRVL

by Andrea Kramer

Published on Dec 29, 2014 at 9:29 AM
Updated on Apr 20, 2015 at 5:32 PM

Analysts are weighing in today on biotech issue Gilead Sciences, Inc. (NASDAQ:GILD), as well as semiconductor concerns Micron Technology, Inc. (NASDAQ:MU) and Marvell Technology Group Ltd. (NASDAQ:MRVL). Here's a quick roundup of today's bullish brokerage notes on GILD, MU, and MRVL.

  • GILD is headed for a 2.1% gain out of the gate, thanks to a spate of upbeat analyst attention. Morgan Stanley upped its rating on GILD to "overweight" from "equal weight," and lifted its price target by $4 to $104. In addition, Barron's named Gilead Sciences, Inc. one of its top 10 picks for 2015 (subscription required). Last week was rough for GILD, as the stock surrendered 13.5% to settle at $93.79, due to competition concerns for its hepatitis C treatment. Still, most analysts remain in GILD's corner, as 14 out of 18 maintain "buy" or better opinions. Likewise, the average 12-month price target of $122 sits in uncharted territory for GILD, and represents a premium of 30% to the stock's current perch.

  • MU was also on the aforementioned Barron's list, with the analysts predicting a gain of more than 40% over the next year, helped by rising demand for smart watches and wearable devices. The shares of Micron Technology, Inc. are headed 0.3% higher ahead of the open, after landing at $35 on Friday. Longer term, MU has skyrocketed nearly 61% in 2014, so it's no surprise to find most analysts are already optimistic. In fact, 17 out of 21 have doled out "buy" or better recommendations, and the consensus 12-month price target of $42.35 sits in territory not explored since mid-2001. In the options arena, however, speculators are buying to open MU puts over calls at a near-annual-high clip ahead of earnings on Wednesday, Jan. 7, as the stock's 10-day put/call volume ratio on the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) sits at 0.71 -- higher than 97% of all other readings from the past year.

  • Finally, MRVL scored a price-target hike to $20 from $19 at Needham, which also reiterated its "buy" endorsement. The shares of MRVL are just a hair's breadth from their year-to-date breakeven level, finishing at $14.37 on Friday. Analysts are divided when it comes to Marvell Technology Group Ltd., as nine have issued "buy" or better ratings, compared to 11 "hold" or worse suggestions. However, short-term options traders are more call-heavy than usual, as the security's Schaeffer's put/call open interest ratio (SOIR) of 0.29 sits just 6 percentage points from a 12-month low.

A Schaeffer's exclusive

6 Sectors for Summer

Access your FREE insider report before it's too late!



NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories

The Latest Investor's Guide to Precious Metals
Learn how to protect savings and maximize returns by investing in precious metals.
Wall Street Reclaims Two Key Trendlines This Week
U.S.-China tensions and dire economic data still weigh, though
Dell Stock Jumps on Upbeat First Quarter
DELL announced an upbeat first-quarter report
The Latest Investor's Guide to Precious Metals
Learn how to protect savings and maximize returns by investing in precious metals.