Trade of the Day: MRVL Stock Looks Set to Soar

Marvell Technology Group Ltd. (NASDAQ:MRVL) started the last market session with a price of $12.18 and finished the session with the price of $12.15 showing surge of 2.3 Percent. 51 funds bought stakes while 75 increased positions. Analyst's mean target price for BT Group plc (NYSE:BT) is $ 37.38 while analysts mean recommendation is 1.50. It has 490.16 million of outstanding shares and its shares float measured at 427.87. The Market Capitalization of the company stands at 5.96 Billion. The investment professionals in our partner's database reported: 362.56 million shares, down from 370.43 million shares in 2015Q4. It offers a range of storage products, such as hard disk drive (HDD) and solid-state drive controllers, in addition to HDD components, such as HDD preamps and motor combo drivers; and develops software facilitated silicon solutions consisting of serial advanced technology attachment port multipliers, bridges, statistical analysis system, and non-volatile memory express redundant array of independent disks controllers and converged storage processors for enterprise, data centers, and cloud computing businesses. It has outperformed by 36.02% the S&P500. It now has negative earnings. Targeted to the consumer market, the product is a 15.6-inch laptop computer from one of the Company's existing major PC manufacturing customers.

In last quarter ended 2016-01-31, Marvell Technology Group Ltd. (NASDAQ:MRVL) earnings came at $-0.04 suggesting a deviation of $-0.04. Shares have been on a tear lately, including a 14% one-day jump in mid-July following the company's fiscal Q4 earnings report after an audit investigation was completed. "The company meets this goal with state-of-the-art chip solutions that enable data transfer in data storage devices and networking applications". According to these analysts, the Low Revenue Estimate for Marvell Technology Group Ltd.is 626.76 Million and the High Revenue Estimate is 635.06 Million. The company recorded a trading capacity of 1.23 million shares below its three months average daily volume of 1.24 million shares. With an institutional ownership near 72.8%, it carries an earnings per share ratio of -1.65. (NASDAQ:UNXL) is $3.37 while analysts mean recommendation is 2.00. Morgens Waterfall Vintiadis & Co Inc, a New York-based fund reported 220,000 shares. Post opening the session at $11.72, the shares hit an intraday low of $11.68 and an intraday high of $12.23 and the price vacillated in this range throughout the day.

26 number of analysts provided their estimates on Pandora Media, Inc., where the Average Price Target for the stock is $14.38. MRVL was included in 41 notes of analysts from August 27, 2015. The shares have been given a mean "OVERWEIGHT" rating keeping in view the consensus of "37" Analysts.

03/02/2016 - Marvell Technology Group Ltd. had its "equal weight" rating reiterated by analysts at Morgan Stanley.

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