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Marvell Technology (MRVL) Catches Eye: Stock Jumps 7.5%
August 28, 2017

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Marvell Technology Group Ltd. (MRVL - Free Report) was a big mover last session, as the company saw its shares rise nearly 8% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $15.05 to $16.05 in the past one-month time frame.

The move came after the company reported better than expected second-quarter fiscal year 2018 results.

The company has seen no estimate revisions over the past few weeks, while the Zacks Consensus Estimate for the current quarter 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 positive.  

A better-ranked stock in the Semiconductor – Communications industry is Nitto Denko Corp. (NDEKY - Free Report) , which currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Is MRVL going up? Or down? Predict to see what others think: Up or Down

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