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UBS Securities recorded Marvell Technology Group (NASDAQ:MRVL), raising its target price to $12.00 today

Marvell Technology Group (NASDAQ:MRVL) had its target bumped up to $12.00 by UBS Securities in a report released 12/01/2016. The new stock price target indicates a possible downside of -0.17% based on the company's previous stock price.

Previously on Tuesday November 22, 2016, Vetr Inc. released a statement about Marvell Technology Group (NASDAQ:MRVL) increased the target price from $0.00 to $16.75. At the time, this indicated a possible upside of 0.13%.

Just yesterday Marvell Technology Group (NASDAQ:MRVL) traded 0.28% higher at $14.39. Marvell Technology Group’s 50-day moving average is $13.28 and its 200-day moving average is $11.74. The last stock price is up 22.51% from the 200-day moving average, compared to the Standard & Poor's 500 Index which has decreased -0.03% over the same time period. 134,720 shares of MRVL traded hands, down from an avg. volume of 5,396,410

Performance Chart

Marvell Technology Group (NASDAQ:MRVL)

With a total market value of $0, Marvell Technology Group has price-earnings ratio of 69.81 with a one year low of $7.40 and a one year high of $14.99 .

A total of 18 analysts have released a report on Marvell Technology Group. Two analysts rating the company a strong buy, three analysts rating the company a buy, sixteen analysts rating the company a hold, two analysts rating the company a underperform, and finally one analyst rating the company a sell with a 12-month price target of $10.86.

More About Marvell Technology Group (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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