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Marvell Technology Group (MRVL) Jumps: Stock Rises 9.1%

Zacks Equity Research
Updated

Marvell Technology Group Ltd. MRVL was a big mover last session, as the company saw its shares rise more than 9% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. The stock picked up sharply from the near-flat trend of $18.23 to $18.58 in the past one month time frame.

The upside was driven by rumors of Marvell Technology combining its business with Cavium Inc.

The company has not seen any estimate revision in the past one month, while its Zacks Consensus Estimate for the current quarter has also remained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.

Marvell Technology currently has a Zacks Rank #3 (Hold), while its Earnings ESP is 0.00%.

Marvell Technology Group Ltd. Price

Marvell Technology Group Ltd. Price | Marvell Technology Group Ltd. Quote

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A better-ranked stock in the  Computer and Technology sector is Adobe Systems Incorporated ADBE, which currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

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Marvell Technology Group Ltd. (MRVL) : Free Stock Analysis Report
 
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