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A statement released earlier today by Vetr Inc. about Marvell Technology Group Ltd. (NASDAQ:MRVL) ups the target price to $12.78

Just yesterday Marvell Technology Group Ltd. (NASDAQ:MRVL) traded 0.08% higher at $13.18. Marvell Technology Group Ltd.’s 50-day moving average is $12.67 and its 200-day moving average is $10.90. The last closing price is up 20.87% from the 200-day moving average, compared to the Standard & Poor's 500 Index which has decreased -0.01% over the same time period. 1,914,366 shares of MRVL traded hands, down from an average trading volume of 6,201,030

In a report released on Thursday October 06, 2016 Vetr Inc. bumped up the target of Marvell Technology Group Ltd. (NASDAQ:MRVL) to $12.78 stating a potential downside of -0.03%.

Previously on 9/21/2016, Vetr Inc. reported on Marvell Technology Group Ltd. (NASDAQ:MRVL) increased the target price from $0.00 to $13.42. At the time, this indicated a possible upside of 0.05%.

Recent Performance Chart

Marvell Technology Group Ltd. (NASDAQ:MRVL)

Marvell Technology Group Ltd. has 52 week low of $7.40 and a 52 week high of $13.56 and has a market capitalization of $0.

In addition to Vetr Inc. reporting its stock price target, a total of 18 brokers have issued a research note on the company. The average stock price target is $10.86 with 2 brokers rating the stock a strong buy, 3 brokers rating the stock a buy, 16 brokers rating the stock a hold, 2 brokers rating the stock a underperform, and finally 1 broker rating the stock a sell.

Brief Synopsis On Marvell Technology Group Ltd. (NASDAQ:MRVL)

Marvell Technology Group Ltd. is a fabless semiconductor provider of application-specific standard products. The Company is engaged in the design, development and sale of integrated circuits. The Company develops System-on-a-Chip (SoC) and System-in-a-Package (SiP) devices. Its 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. Its 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 Company relies on independent, third-party contractors to perform manufacturing, assembly and test functions. The Company offers its products to sectors, including storage, networking, and mobile and wireless.

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