Marvell Technology Group Ltd. (MRVL): Price Target and June Short Interest Disclosure

Marvell Technology Group Ltd. (MRVL) : Average target price received by Marvell Technology Group Ltd. (MRVL) is $11.51 with an expected standard deviation of $2.63. The most aggressive target on the stock is $18, whereas the most downbeat target is $9. 15 financial analysts are currently covering the stock.

Marvell Technology Group Ltd. (MRVL) reported a drop of 16.5% or 1,378,432 shares in its short interest. The short figure came in at 1.6% of the total floats. The average daily volume of 6,295,278 shares suggests that the days to cover 6,983,217 short positions, as on June 30,2016, will be 1. On June 15,2016, the short interest was 8,361,649 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.

Also, Equity analysts at the Brokerage firm Brean Capital upgrades its rating on Marvell Technology Group Ltd. (NASDAQ:MRVL). The rating major has initiated the coverage with buy rating on the shares. Earlier, the shares were rated a Hold by the brokerage firm. The Analysts at Brean Capital announces a current price target of $12.5 per share. 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 $10.1, the bulls momentum made the stock top out at $10.15 level for the day. The stock recorded a low of $10.02 and closed the trading day at $10.09, in the green by 0.80%. The total traded volume for the day was 1,845,526. The stock had closed at $10.01 in the previous days trading.

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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