Analyst Upgrades: Google, Marvell Technology, Analog Devices

Analysts upwardly revised their ratings on Google Inc (GOOGL), Marvell Technology Group Ltd. (MRVL), and Analog Devices, Inc. (ADI)

Aug 19, 2015 at 9:17 AM
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Analysts are weighing in today on Internet giant Google Inc (NASDAQ:GOOGL), as well as chipmakers Marvell Technology Group Ltd. (NASDAQ:MRVL) and Analog Devices, Inc. (NASDQ:ADI). Here's a quick roundup of today's bullish brokerage notes on GOOGL, MRVL, and ADI.

  • Atlantic Equities bumped its rating on GOOGL to "overweight" from "neutral," rewarding the big-cap for its nearly 30% year-to-date lead. The shares have been on fire lately, in no small part due to a massive earnings-induced bull gap in mid-July, and settled yesterday at $688.73. However, bearish bets are mounting on Google Inc. During the latest reporting period, short interest soared 28.5%. Should these shorts get spooked, it could provide a tailwind to GOOGL.

  • Ahead of tomorrow night's earnings report, MRVL received an upgrade to "buy" from "neutral" at Ladenburg Thalmann, sending the equity 1.6% higher in electronic trading. However, J.P. Morgan Securities and Brean Capital cut their respective price targets to $16.50 and $14. It's somewhat surprising anyone would take a bullish path toward the stock, which has surrendered over 16% year-to-date to trade at $12.16. These technical troubles haven't been enough to ward off call buyers, though. During the last 10 weeks across the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), Marvell Technology Group Ltd. has racked up a call/put volume ratio of 21.48 -- which registers in the 90th percentile of its annual range.

  • ADI is basking in the afterglow of upbeat earnings and strong guidance, and is 6% higher pre-market. Adding to today's bullish bias is a round of positive analyst attention, as SunTrust Robinson upped its opinion to a "buy," and no fewer than six analysts boosted their price targets. On the flip side, B. Riley and Raymond James each lowered their price targets to $72. Analog Devices, Inc. has had a solid if unspectacular year on the charts, adding 4.3% in 2015 to trade at $57.90. Option traders have been rolling the dice on even more upside, too. ADI's 50-day ISE/CBOE/PHLX call/put volume ratio of 5.74 ranks in the 84th annual percentile, meaning long calls have been more popular than puts just 16% of the time in the last 12 months.

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