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Marvell Surges on Abnormally High Volume

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June 09, 2009 |Comments: 0
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MRVL

Marvell Technology Group Ltd. (MRVL) surged more than 14% today on unusually high volume of 38 million shares. The daily average volume is around 14.8 million shares.

Marvell was recently upgraded to Outperform from Underperform at JMP Securities.

The consensus estimate for the fiscal year ending January 2010 has increased 13 cents, or more than 200%, over the past month to 19 cents per share, as 17 analysts out of 18 boosted projections.

This Zacks #2 Rank ("Buy") company beat quarterly EPS estimates in each of the last 4 quarters, having done so by an average of 52%.

Read the full analyst report on MRVL

 
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