Economy

Marvell Tech Group (NASDAQ:MRVL) Overbought but Is That a Sell Indicator?

Marvell Tech Group (NASDAQ:MRVL) Overbought but Is That a Sell Indicator?

Moreover, Hanseatic Mngmt Incorporated has 0.03% invested in Marvell Technology Group Ltd. (NASDAQ:MRVL) for 3,691 shares. The company operates in the Technology sector with a market capitalization of 11.53 Million. The original version of this report can be viewed at https://weekherald.com/2017/11/22/marvell-technology-group-ltd-mrvl-upgraded-to-buy-at-jefferies-group-llc.html.

A number of other brokerages also recently issued reports on MRVL. M&T Bank Corp boosted its position in Marvell Technology Group by 1.3% during the 2nd quarter. Afam Capital Inc. now owns 267,181 shares of the semiconductor company's stock valued at $4,783,000 after buying an additional 31,604 shares during the period. The bumped up target suggests a potential upside of 0.29% from the company's most recent close. Creative Planning boosted its holdings in Marvell Technology Group by 39.8% in the 2nd quarter. The Stock now has a Weekly Volatility of 3.83% and Monthly Volatility of 2.26%.

MoSys, Inc. (MOSY) stock showed the move of 11.72% with the closing price of $1.43.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Marvell Technology Group Ltd. had a higher price at the close than it did at the open. Marvell Technology Group Ltd. (NASDAQ:MRVL) has risen 64.54% since November 22, 2016 and is uptrending. For the next 5 years, Marvell Technology Group Ltd.is expecting Growth of 16.13% per annum, whereas in the past 5 years the growth was -12.28% per annum. The stock of Marvell Technology Group Ltd. (NASDAQ:MRVL) has "Outperform" rating given on Thursday, February 18 by Cowen & Co. The semiconductor company reported $0.25 earnings per share for the quarter, missing analysts' consensus estimates of $0.28 by ($0.03). The business had revenue of $604.75 million for the quarter, compared to analyst estimates of $600.76 million. During the same quarter in the prior year, the firm earned $0.18 earnings per share. The difference between the expected and actual EPS was $0.02/share, which represents an Earnings surprise of 7.1%.

The company also recently declared a quarterly dividend, which was paid on Thursday, October 26th. Shareholders of record on Tuesday, October 10th were given a $0.06 dividend. Marvell Technology Group's payout ratio is presently 54.55%.

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WARNING: "Marvell Technology Group Ltd. (MRVL) Shares Bought by First Trust Advisors LP" was originally posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are accessing this piece of content on another site, it was stolen and republished in violation of USA and global trademark & copyright legislation.

In related news, major shareholder Sehat Sutardja sold 2,727,810 shares of Marvell Technology Group stock in a transaction dated Tuesday, October 10th. It improved, as 27 investors sold Marvell Technology Group Ltd. shares while 103 reduced holdings. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders have sold 17,558,035 shares of company stock worth $320,838,284. The recent change has given its price a 24.53% lead over SMA 50 and 6.74% lead over its 52-week high. The ERP5 of Marvell Technology Group Ltd. (NasdaqGS:MRVL) is 3053. Finally, Credit Suisse Group reiterated a buy rating on shares of Marvell Technology Group in a research report on Wednesday, August 23rd.

Among 38 analysts covering Oracle (NYSE:ORCL), 28 have Buy rating, 0 Sell and 10 Hold. Finally, Needham & Company LLC restated a "buy" rating and issued a $21.00 target price on shares of Marvell Technology Group in a research report on Thursday, August 24th. The stock is now moving above its 20-Day Simple Moving Average of 19.76% with a 50-Day Simple Moving Average of 24.53 percent. $53.40's average target is 9.81% above currents $48.63 stock price. This number is calculated using the geometric average which provides the typical value of dividend growth over the specified period using the product of their values.

Marvell Technology is a leading designer, developer and supplier of mixed-signal and digital signal processing integrated circuit for high-speed, high-density, digital data storage and broadband digital data networking markets. Joseph Piotroski developed the F-Score which employs nine different variables based on the company financial statement.


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