Marvell Technology Group Ltd. (MRVL) : Money flow in the Marvell Technology Group Ltd. (MRVL) stock was negative (20.92 million) on Friday, which shows that the investors used the strength in the stock price to reduce their holdings. The total traded value on upticks was $19.63 million, compared to $40.55 million on downticks. The total uptick to downtick ratio was 0.48, indicating the underlying weakness in the stock. Even in block trades, money flow was negative ($21.51 million), indicating selling on the strength. The transaction value during uptick in block trades was $9.09 million. Downtick transaction value in block trades amounted to $30.6 million, indicating persistent selling. The uptick to downtick ratio was 0.3. Marvell Technology Group Ltd. (MRVL) traded $0.43 higher at $11.71 gaining 3.81% over the previous days close.
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 15 rating analysts who initiate coverage on the stock is $11.54 and the possibility the share price can swing is $2.7.
Marvell Technology Group Ltd. (NASDAQ:MRVL): stock turned positive on Friday. Though the stock opened at $11.37, the bulls momentum made the stock top out at $11.71 level for the day. The stock recorded a low of $11.235 and closed the trading day at $11.71, in the green by 3.81%. The total traded volume for the day was 13,958,829. The stock had closed at $11.28 in the previous days trading.
In a related news,The officer (Chief Technology Officer) of Marvell Technology Group Ltd, Wu Zining sold 51,312 shares at $14.51 on June 23, 2015. The Insider selling transaction had a total value worth of $744,537. The Insider information was disclosed 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.