The stock of Marvell Technology Group Ltd. (NASDAQ:MRVL) is a huge mover today! About 12.32M shares traded hands or 195.44% up from the average. Marvell Technology Group Ltd. (NASDAQ:MRVL) has risen 34.95% since April 18, 2016 and is uptrending. It has outperformed by 30.52% the S&P500.
The move comes after 5 months positive chart setup for the $7.39B company. It was reported on Nov, 18 by Barchart.com. We have $21.62 PT which if reached, will make NASDAQ:MRVL worth $3.62 billion more.
Marvell Technology Group Ltd. (NASDAQ:MRVL) Ratings Coverage
Out of 24 analysts covering Marvell Technology Group (NASDAQ:MRVL), 7 rate it a “Buy”, 3 “Sell”, while 14 “Hold”. This means 29% are positive. Marvell Technology Group has been the topic of 54 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The stock has “Sector Perform” rating given by RBC Capital Markets on Tuesday, October 27. FBR Capital downgraded Marvell Technology Group Ltd. (NASDAQ:MRVL) rating on Friday, September 11. FBR Capital has “Mkt Perform” rating and $9 price target. As per Wednesday, August 5, the company rating was upgraded by Citigroup. The company was maintained on Friday, September 25 by Morgan Stanley. The firm earned “Market Perform” rating on Monday, September 14 by Northland Capital. As per Wednesday, October 12, the company rating was upgraded by Credit Suisse. The stock of Marvell Technology Group Ltd. (NASDAQ:MRVL) has “Buy” rating given on Wednesday, August 19 by Ladenburg Thalmann. The stock of Marvell Technology Group Ltd. (NASDAQ:MRVL) earned “Positive” rating by Susquehanna on Friday, August 7. On Thursday, February 18 the stock rating was maintained by Cowen & Co with “Outperform”. The stock has “Hold” rating given by Deutsche Bank on Thursday, August 20.
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 decreased to 1.07 in Q2 2016. Its down 0.29, from 1.36 in 2016Q1. The ratio worsened, 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.
Jpmorgan Chase & Company has invested 0.03% of its portfolio in Marvell Technology Group Ltd. (NASDAQ:MRVL). Swiss Bancorp last reported 1.23M shares in the company. Hoertkorn Richard Charles has 256,843 shares for 1.95% of their US portfolio. Oak Associate Oh has invested 0.33% of its portfolio in Marvell Technology Group Ltd. (NASDAQ:MRVL). Blackrock Grp Ltd holds 2.78 million shares or 0.01% of its portfolio. Advsrs Asset Management, a Colorado-based fund reported 58,817 shares. First Trust Advsrs Limited Partnership last reported 275,503 shares in the company. Moreover, Amp Capital Invsts has 0.05% invested in Marvell Technology Group Ltd. (NASDAQ:MRVL) for 772,890 shares. Profund Advisors Llc, a Maryland-based fund reported 13,214 shares. Wfg Lp has 0.01% invested in the company for 2,000 shares. Moreover, Martingale Asset Mngmt L P has 0% invested in Marvell Technology Group Ltd. (NASDAQ:MRVL) for 17,934 shares. Schwab Charles Invest Mgmt Inc last reported 1.37 million shares in the company. The Ontario – Canada-based Royal Bankshares Of Canada has invested 0% in Marvell Technology Group Ltd. (NASDAQ:MRVL). California State Teachers Retirement System accumulated 876,192 shares or 0.02% of the stock. Architects owns 1,500 shares or 0% of their US portfolio.
More recent Marvell Technology Group Ltd. (NASDAQ:MRVL) news were published by: Profitconfidential.com which released: “Marvell Technology Group Ltd.: MRVL Stock Has Legs” on November 18, 2016. Also Nasdaq.com published the news titled: “Earnings Reaction History: Marvell Technology Group Ltd., 37.5% Follow-Through …” on November 17, 2016. Prnewswire.com‘s news article titled: “Marvell Technology Group Ltd. Announces Restructuring Actions to Drive Growth …” with publication date: November 02, 2016 was also an interesting one.
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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