Marvell Technology Group Ltd. MRVL was a big mover last session, as the company saw its shares rise over 13% on the day. The upside came after the company announced the departure of its CEO and President from their management positions, effective immediately. This led to solid volume too with far more shares changing hands than in a normal session. Yesterday’s rally breaks the recent trend of the company, as the stock is now trading above the volatile price range of $9.62 to $10.48 in the past one-month time frame.
The company has seen no estimate revisions over the past 30 days, while the Zacks Consensus Estimate remained unchanged over the same time frame. Yesterday’s 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 0.00%.
A better-ranked stock in the Semi-Communications industry is Cypress Semiconductor Corporation CY, which carries a Zacks Rank #2 (Buy).
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