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Credit Suisse Group AG upgraded Marvell Technology Group Ltd. (NASDAQ:MRVL) to Outperform in a report released today.

Credit Suisse Group AG has upgraded Marvell Technology Group Ltd. (NASDAQ:MRVL) to Outperform in a report released on Wednesday October 12, 2016.

Previously on 10/6/2016, Vetr Inc. reported on Marvell Technology Group Ltd. (NASDAQ:MRVL) increased the target price from $0.00 to $12.78. At the time, this indicated a possible downside of -0.03%.

Just yesterday Marvell Technology Group Ltd. (NASDAQ:MRVL) traded 0.00% even at $12.83. Marvell Technology Group Ltd.’s 50-day moving average is $12.82 and its 200-day moving average is $11.01. The last closing price is up 18.03% from the 200-day moving average, compared to the Standard & Poor's 500 Index which has decreased -0.01% over the same time period. 3,459,053 shares of MRVL traded hands, down from an average trading volume of 6,223,520

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 Credit Suisse Group AG 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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