Marvell Technology Group Ltd. (MRVL) : 5 brokerage houses believe that Marvell Technology Group Ltd. (MRVL) is a Strong Buy at current levels. 11 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Marvell Technology Group Ltd. (MRVL). Zacks Investment Research suggests a Hold with a rank of 3. 1 analysts perceive the stock to be overvalued at the existing levels, hence their call is to Sell the stock. 1 others believe that the stock has run up ahead of its fundamentals and advise a Strong Sell on the stock.The median of all the 18 Wall Street Analysts endorse the stock as a Hold with a rating of 2.61.
Marvell Technology Group Ltd. (MRVL) : The consensus price target for Marvell Technology Group Ltd. (MRVL) is $12.67 for the short term with a standard deviation of $2.72. The most optimist securities analyst among the 15 who monitor the stock believes that the stock can reach $18, however, the pessimist price target for the company is $9.
Company shares have received an average consensus rating of Hold for the current week Marvell Technology Group Ltd. (NASDAQ:MRVL): The stock opened at $11.50 on Thursday but the bulls could not build on the opening and the stock topped out at $11.54 for the day. The stock traded down to $11.34 during the day, due to lack of any buying support eventually closed down at $11.42 with a loss of -0.44% for the day. The stock had closed at $11.47 on the previous day. The total traded volume was 2,969,291 shares.
In a related news, The Securities and Exchange Commission has divulged that Wu Zining, officer (Chief Technology Officer) of Marvell Technology Group Ltd, had unloaded 51,312 shares at an average price of $14.51 in a transaction dated on June 23, 2015. The total value of the transaction was worth $744,537.
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.