Marvell Technology Group Ltd. (MRVL) : Analyst Rating Update

Marvell Technology Group Ltd. (MRVL) : Zacks Investment Research ranks Marvell Technology Group Ltd. (MRVL) as 3, which is a Hold recommendation. 5 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. A total of 12 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 18 research analysts is 2.5, which indicates as a Buy.

Marvell Technology Group Ltd. (MRVL) : Currently there are 15 street experts covering Marvell Technology Group Ltd. (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.

Marvell Technology Group Ltd. (NASDAQ:MRVL): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $9.33 and $9.13 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $9.46. The buying momentum continued till the end and the stock did not give up its gains. It closed at $9.44, notching a gain of 0.75% for the day. The total traded volume was 2,573,687 . The stock had closed at $9.37 on the previous day.

Also, Equity Analysts at the Brean Capital upgrades the rating on Marvell Technology Group Ltd. (NASDAQ:MRVL). The brokerage firm has issued a Buy rating on the shares. The shares were previously rated Hold. The Analysts at the ratings agency announces the price target to $12.5 per share. The rating by the firm was issued on April 14, 2016. The company shares have dropped -26.91% from its 1 Year high price. On Jul 13, 2015, the shares registered one year high at $13.38 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 $9.57.

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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