Brokerage Firm Rating Update on Marvell Technology Group Ltd. (MRVL)

Marvell Technology Group Ltd. (MRVL) : Zacks Investment Research ranks Marvell Technology Group Ltd. (MRVL) as 3, which is a Hold recommendation. 6 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. Not everyone is convinced about the stocks future, hence, the stock receives 1 Sell recommendation. 1 more believe that the stock has more downside risks, hence they propose a Strong Sell. A total of 9 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 17 research analysts is 2.47, which indicates as a Buy.

Marvell Technology Group Ltd. (MRVL) has been rated by 13 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $18 and the lowest price target forecast is $9. The average forecast of all the analysts is $13.35 and the expected standard deviation is $2.78.


Company shares have received an average consensus rating of Hold for the current week Also, In the latest statement by the brokerage house, Citigroup maintains its outlook on Marvell Technology Group Ltd. (NASDAQ:MRVL). The current rating of the shares is Sell, according to the research report released by the firm. The brokerage firm raises the price target from $10.5 per share to $12 per share. The rating by the firm was issued on September 2, 2016.

Marvell Technology Group Ltd. (NASDAQ:MRVL): stock was range-bound between the intraday low of $12.55 and the intraday high of $12.82 after having opened at $12.57 on Wednesdays session. The stock finally closed in the red at $12.57, a loss of -2.40%. The stock remained in the red for the whole trading day. The total traded volume was 7,478,444 shares. The stock failed to cross $12.82 in Wednesdays trading. The stocks closing price on Thursday was $12.94.

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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