Marvell Technology Group Ltd. (MRVL) Receives Price Target

Marvell Technology Group Ltd. (MRVL) : The highest level Marvell Technology Group Ltd. (MRVL) is projected to reach is $18 for the short term and the lowest estimate is at $9. The consolidated price target from 13 rating analysts who initiate coverage on the stock is $13.27 and the possibility the share price can swing is $2.71.

Marvell Technology Group Ltd. (MRVL) : 16 analysts are covering Marvell Technology Group Ltd. (MRVL) and their average rating on the stock is 2.56, which is read as a Hold. 5 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. However, 1 analysts consider that the stock has more downward risks ahead, hence, they suggest a Strong Sell on the stock. 1 more analyst has given the stock a Sell recommendation. A total of 9 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.


Also, Brokerage firm MKM Partners maintains its rating on Marvell Technology Group Ltd. (NASDAQ:MRVL). As per the latest information, the brokerage house raises the price target to $14 per share from a prior target of $10. The shares have been rated Neutral. The rating by the firm was issued on July 28, 2016.

Marvell Technology Group Ltd. (NASDAQ:MRVL): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $12.45 and $12.40 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $12.88. The buying momentum continued till the end and the stock did not give up its gains. It closed at $12.87, notching a gain of 3.79% for the day. The total traded volume was 8,179,508 . The stock had closed at $12.40 on the previous day.

Marvell Technology Group Ltd. (Marvell) is a fabless semiconductor provider of application-specific standard products. The Company develops System-on-a-Chip (SoC) devices. Its product portfolio includes devices for data storage, enterprise-class Ethernet data switching, Ethernet physical-layer transceivers (PHY), mobile handsets, connectivity, Internet-of-Things (IoT) devices and other consumer electronics. Its products serve diverse applications used in carrier, metropolitan, enterprise and PC-client data communications, and storage systems. In addition, the Company serves the consumer electronics market for the convergence of voice video and data applications. As a fabless integrated circuit company, the Company relies on independent, third-party contractors to perform manufacturing, assembly and test functions. The Companys offers its products to three markets: mobile and wireless, storage, and networking.

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