Marvell Technology Group Ltd. (MRVL) Shares are Up 3.49%

Marvell Technology Group Ltd. (MRVL) : Traders are bullish on Marvell Technology Group Ltd. (MRVL) as it has outperformed the S&P 500 by a wide margin of 7.02% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.94%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 3.49% in the last 1 week, and is up 4.86% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

The stock has recorded a 20-day Moving Average of 2.6% and the 50-Day Moving Average is 9.76%.The 200 Day SMA reached 27.95% Marvell Technology Group Ltd. is up 27.15% in the last 3-month period. Year-to-Date the stock performance stands at 46.15%.


Marvell Technology Group Ltd. (MRVL) : The highest short term price target forecast on Marvell Technology Group Ltd. (MRVL) is $18 and the lowest target price is $9. A total of 12 equity analysts are currently covering the company. The average price of all the analysts is $13.63 with a standard deviation of $2.5.

Company shares have received an average consensus rating of Hold for the current week Marvell Technology Group Ltd. (NASDAQ:MRVL): The stock opened at $12.95 and touched an intraday high of $12.99 on Friday. During the day, the stock corrected to an intraday low of $12.595, however, the bulls stepped in and pushed the price higher to close in the green at $12.74 with a gain of 1.35% for the day. The total traded volume for the day was 9,954,143. The stock had closed at $12.74 in the previous trading session.

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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