Analyst Update: Marvell Tech, AngioDynamics, New Media Investment

Analysts adjusted their ratings and price targets on Marvell Technology Group Ltd. (MRVL), AngioDynamics, Inc. (ANGO), and New Media Investment Group Inc (NEWM)

Apr 5, 2016 at 3:17 PM
facebook X logo linkedin

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 Analyst Upgrades: Under Armour Inc, Wendy's Co, and AT&T Inc. and Analyst Downgrades: Cisco Systems, Inc., Palo Alto Networks Inc, and PulteGroup, Inc.

Unlock Weekend Profits with Chris Prybal's Favorite Strategy Up +487.5% in 2024

With the markets going left, right, and sideways, you need to have a plan now more than ever. 

Expert Trader Chris Prybal is no stranger to volatility, and has mastered finding big stock rallies while other traders aren't looking over the weekend. Rallies that produced gains like +207% on RTX calls, +236% on MARA calls, and +238% on NET calls.

A few simple moves on Sunday at 7pm could be the “Secret Sauce” your portfolio needs to not just stay afloat, but make unprecedented gains in this turbulent market.

Don’t sit on the sidelines, beat the market with Chris Prybal's strategy. Join him now!




Rainmaker Ads CGI