Marvell Technology Group Ltd. (NASDAQ:MRVL) has climbed 2.04% in the past week and advanced 0.8% in the last 4 weeks. The company has outperformed the S&P 500 by 3.26% in the past week but underperformed the index by 0.12% in the last 4 weeks.
Marvell Technology Group Ltd. (NASDAQ:MRVL): The stock opened at $10.32 on Friday but the bulls could not build on the opening and the stock topped out at $10.34 for the day. The stock traded down to $10.00 during the day, due to lack of any buying support eventually closed down at $10.02 with a loss of -2.81% for the day. The stock had closed at $10.31 on the previous day. The total traded volume was 6,536,476 shares.
The company shares have dropped -31.32% from its 1 Year high price. On Jun 22, 2015, the shares registered one year high at $14.73 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $9.90 and the 200 Day Moving Average price is recorded at $9.47.
On the companys insider trading activities, Wu Zining, officer (Chief Technology Officer) of Marvell Technology Group Ltd, unloaded 51,312 shares at an average price of $14.51 on June 23, 2015. The total amount of the transaction was worth $744,537, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.
Many analysts have stated their opinion on the company shares. Major Brokerage house, Brean Capital upgrades its ratings on Marvell Technology Group Ltd. (NASDAQ:MRVL). In the latest research report, Brean Capital announces the target price to $12.5 per share. According to the latest information available, the shares are now rated Buy by the analysts at the agency. Previously, the analysts had a Hold rating on the shares. The rating by the firm was issued on April 14, 2016. Currently the company Insiders own 13.7% of Marvell Technology Group Ltd. shares according to the proxy statements. Institutional Investors own 71.19% of Marvell Technology Group Ltd. shares.
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.