Analyst Rating In Review: Marvell Technology Bid Up 6.7% Since Upgraded 7 Days Ago (MRVL)

Published on Fri, 03/01/2013 - 10:12
By Peter Chu in Analyst reflections, MRVL, analyst reflections, marvell technology, nasdaq:mrvl

Marvell Technology was upgraded from Hold to Buy by Craig-Hallum one week ago. Marvell Technology shares are selling at $10.10, 6.7% above the $9.47 price point of one week ago.

Marvell Technology Group Ltd. designs, develops, and markets integrated circuits for communications-related markets. The Company's products provide the interface between analog signals and the digital information used in computing and communications systems. Marvell's technology is applied to the broadband data communications market.

There is potential upside of 1.9% for shares of Marvell Technology based on a current price of $10.06 and an average consensus analyst price target of $10.25. The stock should find initial support at its 200-day moving average (MA) of $9.90 and further support at its 50-day MA of $8.85.

Marvell Technology share prices have moved between a 52-week high of $16.86 and a 52-week low of $6.98 and are now trading 44% above that low price at $10.06 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has advanced 1.5%.

By Peter Chu
pchu@fnno.com

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