Law Offices of Howard G. Smith announces an investigation on behalf of investors of Marvell Technology Group Ltd. (“Marvell” or the “Company”) (NASDAQ:MRVL) concerning the Company’s and its officers’ possible violations of federal securities laws in connection with Marvell’s recent disclosure of potentially fraudulent accounting practices; and, an unexpected loss for the fiscal second quarter. Around 2% of the company’s shares, which are float, are short sold.
Marvell Technology Group (NASDAQ:MRVL) last issued its quarterly earnings data on Friday, September 11th.
Now the company Insiders own 0.1% of Marvell Technology Group Ltd. Company shares. Post opening the session at $8.65, the shares hit an intraday low of $8.44 and an intraday high of $8.7 and the price vacillated in this range throughout the day.
Other research analysts also recently issued reports about the stock. Marvell Technology Group has a 52 week low of $8.21 and a 52 week high of $16.78.
According to TipRanks.com, Sepenzis is a 4-star analyst with an average return of 11.6% and a 37.0% success rate. S&P 500 has rallied 4.01% during the last 52-weeks. The current year EPS estimate on the stock is 0.520 and the EPS estimate for next year sits at 0.680. The shares were sold at an average price of $14.51, for a total transaction of $744,537.12.
The stock price of Marvell Technology Group has decreased 35.64% over the last 200 days, and is in strong down trend. In the past six months, there is a change of -9.02% in the total insider ownership.
Bow Street Llc had the largest stake with ownership of 792,878 shares as of q2 2015 for 5.05% of the USA long equity exposure. It has decreased by 24% from the same period of last month. The primary factors that have impacted our rating are mixed – some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. Brean Capital reissued a buy rating and issued a $16.00 price target on shares of Marvell Technology Group in a report on Friday, May 22nd. The shares have been rated Neutral.
Marvell Technology Group Ltd. (Marvell) is a fabless semiconductor provider of application-specific standard products. The Business develops System-on-a-Chip (SoC) devices. Its product portfolio includes devices for data storage, enterprise-class Ethernet data switching, Ethernet physical-layer transceivers (PHY), mobile handsets and other consumer electronics, wireless networking, personal area networking, Ethernet-based personal computer (PC) connectivity, control plane communications controllers, video-image processing and power management solutions. Its products serve varied programs found in carrier, metropolitan, enterprise and PC -client data communications, and storage systems.