Price Target Update on Marvell Technology Group Ltd. (NASDAQ:MRVL)

Marvell Technology Group Ltd. (NASDAQ:MRVL) : Currently there are 15 street experts covering Marvell Technology Group Ltd. (NASDAQ:MRVL) stock. The most bullish and bearish price target for the stock is $18 and $9 respectively for the short term. The average price target of all the analysts comes to $11.51. The estimated standard deviation from the target is $2.63.

Other Equity analysts have also commented 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.

Marvell Technology Group Ltd. (NASDAQ:MRVL): stock turned positive on Thursday. Though the stock opened at $10.31, the bulls momentum made the stock top out at $10.4201 level for the day. The stock recorded a low of $10.22 and closed the trading day at $10.41, in the green by 1.86%. The total traded volume for the day was 3,811,001. The stock had closed at $10.22 in the previous days trading.

The company shares have dropped -28.63% from its 1 Year high price. On Jun 25, 2015, the shares registered one year high at $14.57 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $9.93 and the 200 Day Moving Average price is recorded at $9.49. 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.

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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