Price Action Alert: Could Marvell Technology Group Ltd. Rise Even More? The Stock Had Another Big Increase Today

Price Action Alert: Could Marvell Technology Group Ltd. Rise Even More? The Stock Had Another Big Increase Today

The stock of Marvell Technology Group Ltd. (NASDAQ:MRVL) is a huge mover today! About 1.88M shares traded hands. Marvell Technology Group Ltd. (NASDAQ:MRVL) has risen 33.54% since March 1, 2016 and is uptrending. It has outperformed by 24.30% the S&P500.
The move comes after 8 months positive chart setup for the $6.55 billion company. It was reported on Oct, 4 by Barchart.com. We have $18.39 PT which if reached, will make NASDAQ:MRVL worth $2.69B more.

Marvell Technology Group Ltd. (NASDAQ:MRVL) Ratings Coverage

Out of 24 analysts covering Marvell Technology Group (NASDAQ:MRVL), 6 rate it a “Buy”, 3 “Sell”, while 15 “Hold”. This means 25% are positive. Marvell Technology Group has been the topic of 52 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The rating was maintained by RBC Capital Markets with “Sector Perform” on Tuesday, October 27. The firm has “Market Perform” rating given on Monday, September 14 by Northland Capital. UBS maintained it with “Neutral” rating and $9.10 target price in Monday, September 14 report. The stock has “Hold” rating given by Deutsche Bank on Wednesday, April 6. As per Wednesday, April 6, the company rating was downgraded by Standpoint Research. The rating was upgraded by B. Riley & Co on Monday, February 8 to “Buy”. Cowen & Co maintained Marvell Technology Group Ltd. (NASDAQ:MRVL) on Tuesday, September 6 with “Outperform” rating. The firm earned “Neutral” rating on Monday, October 12 by Nomura. The stock has “Neutral” rating given by Susquehanna on Friday, September 11. The firm has “Buy” rating by Brean Capital given on Tuesday, April 5.

According to Zacks Investment Research, “Marvell Technology is a leading designer, developer and supplier of mixed-signal and digital signal processing integrated circuit for high-speed, high-density, digital data storage and broadband digital data networking markets. The company’s goal is to continue to support its customers in providing faster, better solutions to meet their customers’ needs for increased bandwidth as communication solutions evolve. The company meets this goal with state-of-the-art chip solutions that enable data transfer in data storage devices and networking applications.”

Insitutional Activity: The institutional sentiment increased to 1.36 in 2016 Q2. Its up 0.22, from 1.14 in 2016Q1. The ratio increased, as 22 funds sold all Marvell Technology Group Ltd. shares owned while 81 reduced positions. 41 funds bought stakes while 99 increased positions. They now own 352.60 million shares or 2.75% less from 362.56 million shares in 2016Q1.
Cibc World Mkts has 0% invested in the company for 14,600 shares. Paradigm Capital Ny has 0.1% invested in the company for 89,275 shares. Bessemer Gp accumulated 0% or 2,000 shares. Allianz Asset Mgmt Ag has 0.01% invested in the company for 2.47M shares. Moreover, Aperio Group Inc Llc has 0% invested in Marvell Technology Group Ltd. (NASDAQ:MRVL) for 47,902 shares. Moreover, Jpmorgan Chase Communication has 0.03% invested in Marvell Technology Group Ltd. (NASDAQ:MRVL) for 12.58M shares. Glenview Limited Company has 4.26M shares for 0.29% of their US portfolio. Amp Cap Invsts has invested 0.05% of its portfolio in Marvell Technology Group Ltd. (NASDAQ:MRVL). Wfg Advsrs Limited Partnership, a Texas-based fund reported 2,000 shares. Credit Agricole S A reported 1.46M shares or 0.05% of all its holdings. Bluemountain Cap Mngmt Limited Liability Co has 0.03% invested in the company for 129,249 shares. Blackrock Japan Com Limited, a Japan-based fund reported 500,668 shares. Moreover, Victory Capital Mngmt has 0.07% invested in Marvell Technology Group Ltd. (NASDAQ:MRVL) for 1.89M shares. Apriem Advsrs owns 1,500 shares or 0% of their US portfolio. Zurcher Kantonalbank (Zurich Cantonalbank) has 28,583 shares for 0% of their US portfolio.

More notable recent Marvell Technology Group Ltd. (NASDAQ:MRVL) news were published by: Prnewswire.com which released: “Marvell Technology Group Ltd. Announces Appointment of Dave Caron, Corporate …” on October 03, 2016, also Forbes.com with their article: “Marvell Technology Group About To Put More Money In Your Pocket (MRVL)” published on September 22, 2016, Prnewswire.com published: “Marvell Technology Group Ltd. Declares Quarterly Dividend Payment” on September 14, 2016. More interesting news about Marvell Technology Group Ltd. (NASDAQ:MRVL) were released by: Prnewswire.com and their article: “Marvell Technology Group Ltd. Reports Second Quarter of Fiscal 2017 Financial …” published on September 06, 2016 as well as Nasdaq.com‘s news article titled: “Marvell Technology Group Ltd. Q2 Earnings Climb 134%” with publication date: September 06, 2016.

MRVL Company Profile

Marvell Technology Group Ltd., incorporated on January 11, 1995, is a fabless semiconductor well-known provider of application-specific standard products. The Firm is engaged in the design, development and sale of integrated circuits. The Firm develops System-on-a-Chip (SoC) and System-in-a-Package (SiP) devices. The Company’s product portfolio includes devices for data storage, enterprise-class Ethernet data switching, Ethernet physical-layer transceivers (PHY), wireless connectivity, Internet-of-Things (IoT) devices and multimedia solutions. The Company’s products serve various applications used in carrier, metropolitan, enterprise and personal computer (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. The Firm relies on independent, third-party contractors to perform manufacturing, assembly and test functions. The Firm offers its products to sectors, including storage, networking, and mobile and wireless.

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