Marvell Technology Group Ltd. (NASDAQ:MRVL) shares were up 3.09% on Wednesday when approximately 8.47M shares were traded, against the average daily trading volume of 3.95M. Analysts at Credit Agricole recently upgraded the stock to Underperform from Buy. Marvell Technology Group Ltd. (NASDAQ:MRVL) has a consensus buy rating, according to Zacks Investment Research. 1 analyst has rated the stock with a sell rating, 5 have assigned a hold rating, Zero says it’s a buy, and 6 have assigned a strong buy rating to the company.
Analysts have a consensus target price of $15.59 in the 12-month period. The price objective is 1.70% higher than the recent closing price of $15.33. The 52-week price range is $8.15-$15.45 and the company has a market capitalization of $7.79 billion.
Marvell Technology Group Ltd. (MRVL) on December 14, 2016 announced the appointment of Mr. Tudor Brown, MBE, to its Board of Directors.
“Tudor is a proven veteran of the semiconductor industry with both operational experience and deep technical insight,” said Matt Murphy, Marvell’s President and Chief Executive Officer. “I look forward to working closely with him as we continue to innovate, serve our customers and deliver value to our shareholders.”
Mr. Brown currently serves on the boards of the Lenovo Group, Tessera Technologies and the Semiconductor Manufacturing International Corporation. Previously, Mr. Brown was one of the founding members of ARM Holdings PLC, a wholly owned subsidiary of the Softbank Group. During his tenure, he served in a range of leadership roles, including Executive VP of Global Development, Chief Technical Officer, Chief Operating Officer and President, and was a member of their board of directors. He also served on the Boards of P2i and ANT Software. Mr. Brown, who earned an MA in Electrical Sciences from Cambridge University, has been honored both as a Fellow of the Institution of Engineering and Technology and as a Fellow of the Royal Academy of Engineering.
Marvell first revolutionized the digital storage industry by moving information at speeds never thought possible. that same breakthrough innovation remains at the heart of the company’s storage, network infrastructure, and wireless connectivity solutions. With leading intellectual property and deep system-level knowledge, Marvell’s semiconductor solutions continue to transform the enterprise, cloud, automotive, industrial, and consumer markets. To learn more, visit: www.marvell.com.