Shares of Marvell Technology Group Ltd. (MRVL) Sees Large Outflow of Money

Marvell Technology Group Ltd. (MRVL) : The money flow is calculated as the dollar value of composite uptick trades minus the dollar value of downtick trades, which was negative (2.22 million) in Marvell Technology Group Ltd. (MRVL). On Thursday, The value of composite uptick trades was $4.92 million, whereas, the value of composite downtick trades was $7.14 million and the ratio between the two was 0.69, indicating selling on strength. Traders involved in block trades booked profits in their holdings as seen in the transactions on downticks valued at $3.3 million. $1.22 million was the block trade value on upticks. The ratio between the two was clearly in favor of the bears at 0.37. The negative money flow of ($2.08 million) shows selling on strength. Marvell Technology Group Ltd. (MRVL) gained $0.34 intraday at $9.78 and registrered 3.6% for the week.


Marvell Technology Group Ltd. (MRVL) : The consensus price target for Marvell Technology Group Ltd. (MRVL) is $11.51 for the short term with a standard deviation of $2.63. 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. The stock has recorded a 20-day Moving Average of 0.52% and the 50-Day Moving Average is 0.66%.

Marvell Technology Group Ltd. (NASDAQ:MRVL): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $9.63 and $9.56 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $9.78. The buying momentum continued till the end and the stock did not give up its gains. It closed at $9.77, notching a gain of 3.50% for the day. The total traded volume was 4,868,190 . The stock had closed at $9.44 on the previous day.

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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *