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Vetr Inc. announced Marvell Technology Group Ltd. (NASDAQ:MRVL), bumping up its stock price target to $13.42 today

Marvell Technology Group Ltd. (NASDAQ:MRVL) had its target price raised to $13.42 by Vetr Inc. in a report released Wednesday September 21, 2016. The new target price indicates a possible upside of 0.05% based on the company's last stock close price.

Yesterday Marvell Technology Group Ltd. (NASDAQ:MRVL) traded 0.39% higher at $12.74. The company’s 50-day moving average is $12.26 and its 200-day moving average is $10.71. The last stock close price is up 21.43% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time. 5,331,995 shares of the stock were exchanged, down from an average trading volume of 6,212,570

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Marvell Technology Group Ltd. (NASDAQ:MRVL)

Marvell Technology Group Ltd. has a 52 week low of $7.40 and a 52 week high of $13.12 The company’s market cap is currently $0.

In addition to Vetr Inc. reporting its target price, a total of 18 firms have reported on the stock. The consensus target price is $10.86 with two analysts rating the company a strong buy, three analysts rating the company a buy, sixteen analysts rating the company a hold, two equity analysts rating the company a underperform, and lastly one equity analyst rating the company a sell.

Brief Synopsis About 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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