Share of Marvell Technology Group Ltd. (NASDAQ:MRVL) traded on 2.89 percent above secure line at 2:46PM EDT in order to take the company’s stock at the price of $10.68. At the time of writing the stock exchanged hands 6.24 million shares versus average trading capacity of 4.95 million shares, yielding a market cap of $5.76 billion.

Taking a glance at where the stock might be directed in the future, on a consensus basis, the sell-side has a one year price target of $10.86 on the stock, this valuation is based on 18 number of opinions. This consensus target price comprises projections from analysts polled by First Call.

In order to get a glimpse of Wall Street sentiment, we can look to brokerage analyst estimates. On a one to five ratings scale where 1 refers to a Strong Buy, 2 directs a Buy, 3 a Hold, 4 indicates a Sell and 5 a Strong Sell. Marvell Technology Group Ltd. (NASDAQ:MRVL) currently has an average brokerage recommendation of 2.63 according to analysts. This is the average number based on the total brokerage firms taken into consideration by Zacks investment research.

Marvell Technology Group Ltd. (MRVL), a global leader in integrated silicon solutions, on April 27, 2016 announced that it has entered into an agreement with Starboard Value LP, which has a beneficial ownership of approximately 6.5% of the Company’s outstanding common stock, regarding the composition of Marvell’s Board of Directors. Under the terms of the agreement, Marvell’s Board of Directors will elect Peter A. Feld, Richard S. Hill and Oleg Khaykin to the Board.  Starboard will designate an additional independent director to be added to the Marvell Board as soon as practical, subject to the reasonable approval of the Board.  Marvell will also elect Robert E. Switz to the Board.  Mr. Feld, Mr. Hill, Mr. Khaykin and the additional independent director named in accordance with the agreement will stand for election as nominees of Marvell at the Marvell 2016 annual meeting of shareholders, together with Mr. Switz and incumbent independent directors Juergen Gromer, John Kassakian, Arturo Krueger and Randhir Thakur.

Technical Indicators & Financial Station

In order to check on the sell-side rational, we can also take a peek at some technical indicators. Marvell Technology Group Ltd. (NASDAQ:MRVL)’s price sits 6.54% above from its 50-day moving average of $10.27 and 10.93% far from the stock’s 200-day moving average which is $9.18. Shares are trading -26.01% away from the 52-week high mark of $14.44 and +45.24% far from the 52-week bottom of $7.36. The stock hit its 52-high on Jun 22, 2015, and 52-week low on Jan 20, 2016. The average true range, a measure of volatility is at 0.34, however its weekly and monthly volatility is 3.19%, 3.03% respectively. The company’s Relative Strength Index which shows price strength currently stands at 59.26. Relative Strength Index (RSI) is a technical momentum indicator that compares the magnitude of recent gains to recent losses in an attempt to determine excess buying & selling conditions of an asset, it is one of the most popular technical indicators, computed on the basis of the speed and direction of a stock’s price movement.

Marvell Technology Group Ltd. (NASDAQ:MRVL)’s quick ratio for most recent quarter is 2.90 along with current ratio for most recent quarter of 3.20. Total debt to equity ratio of the company for most recent quarter is 0.00 whereas long term debt to equity ratio for most recent quarter is 0.00.

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