Credit Suisse announced Marvell (NASDAQ:MRVL), boosting its stock price target to $17.50 today
- Updated: October 12, 2016
Just yesterday Marvell (NASDAQ:MRVL) traded 0.31% higher at $12.83. Marvell’s 50-day moving average is $12.75 and its 200-day moving average is $10.97. The last stock price is up 17.36% from the 200-day moving average, compared to the Standard & Poor's 500 Index which has decreased -0.01% over the same time period. 1,386,686 shares of MRVL traded hands, down from an average trading volume of 6,176,940
In a report released on 10/12/2016 Credit Suisse increased the stock price target of Marvell (NASDAQ:MRVL) from $13.50 to $17.50 reporting a possible upside of 0.36%.
Previously on 10/06/2016, Vetr Inc. released a statement about Marvell (NASDAQ:MRVL) increased the target price from $0.00 to $12.78. At the time, this indicated a possible downside of -0.03%.
Recent Performance Chart
Marvell 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 Credit Suisse reporting its stock price target, a total of 18 brokerages have issued a ratings update on the company. The average stock price target is $10.86 with 2 brokerages rating the stock a strong buy, 3 brokerages rating the stock a buy, 16 brokerages rating the stock a hold, 2 brokerages rating the stock a underperform, and finally 1 brokerage rating the stock a sell.
Brief Synopsis On Marvell (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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