Analysts adjusted their ratings and price targets on Marvell Technology Group Ltd. (MRVL), AngioDynamics, Inc. (ANGO), and New Media Investment Group Inc (NEWM)
Analysts are weighing in on semiconductor stock
Marvell Technology Group Ltd. (NASDAQ:MRVL), medical device maker
AngioDynamics, Inc. (NASDAQ:ANGO), and publisher New Media Investment Group Inc (NYSE:NEWM). Here's a quick roundup of today's brokerage notes on MRVL, ANGO, and NEWM.
- A downgrade to "hold," along with a price-target cut to $13, at Canaccord Genuity has ANGO down 8.7% at $11.08. After nearly two months of consistent recovery following a two-year low in early February, AngioDynamics, Inc. has backtracked this week, since the firm announced the appointment of a new president and CEO. ANGO is now down 8.7% year-to-date, and traders may be cautious, as the company is due to report fiscal third-quarter earnings this Thursday evening. ANGO cut its current-year outlook after its last quarterly report, in early January -- resulting in a 6% loss in the ensuing session.
- NEWM is 7.7% lower at $14.98 after Citigroup cut its rating on the stock to "neutral." New Media Investment Group Inc has given up 23% in 2016 and 36% year-over-year, and was rejected by its 100-day moving average in January. More recently, the shares have buckled under the weight of their 60-day trendline. While the stock hasn't drawn a huge amount of interest from options traders, its Schaeffer's put/call open interest ratio (SOIR) of 1.58 sits in the put-heavy 98th percentile of its annual range. Separately, short interest accounts for 7% of the stock's float, or more than two weeks' worth of trading, at NEWM's average daily volume.
For other stocks in analysts' crosshairs, read
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