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Marvell Technology Makes a Move: Up 2.1%

Published on Fri, 02/01/2013 - 13:28
By Peter Chu

Marvell Technology (NASDAQ:MRVL) is a company whose shares are active, trading 2.1% higher to $9.44. The S&P is currently trading 1.0% higher to 1,513 and the Dow Jones Industrial Average is trading 0.9% higher to 13,994.

In the past 52 weeks, Marvell Technology share prices have been bracketed by a low of $6.98 and a high of $16.86 and are now at $9.44, 35% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 1.1% while the 50-day MA has advanced 1.9%.

Marvell Technology (NASDAQ:MRVL) is currently priced 3.8% above its average consensus analyst price target of $9.08. The stock should hit resistance at its 200-day moving average (MA) of $10.39, as well as support at its 50-day MA of $8.40.

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.

By Peter Chu
pchu@fnno.com