Marvell Technology Group Ltd. (MRVL): Today's Featured Electronics Winner
Marvell Technology Group (MRVL) pushed the Electronics industry higher today making it today's featured electronics winner. The industry as a whole closed the day up 0.2%. By the end of trading, Marvell Technology Group rose 48 cents (3.4%) to $14.58 on average volume. Throughout the day, 14.1 million shares of Marvell Technology Group exchanged hands as compared to its average daily volume of 14.2 million shares. The stock ranged in a price between $14.16-$14.70 after having opened the day at $14.34 as compared to the previous trading day's close of $14.10. Other companies within the Electronics industry that increased today were: BTU International (BTUI), up 11.8%, LightPath Technologies (LPTH), up 11.1%, Energy Conversion Devices (ENER), up 10.4%, and SMTC Corporation (SMTX), up 9.8%. Marvell Technology Group Ltd. designs, develops, and markets analog, mixed-signal, digital signal processing, and embedded and standalone ARM-based microprocessor integrated circuits. Marvell Technology Group has a market cap of $8.04 billion and is part of the technology sector. The company has a P/E ratio of 11.7, equal to the average electronics industry P/E ratio and below the S&P 500 P/E ratio of 17.7. Shares are down 24% year to date as of the close of trading on Tuesday. Currently there are 18 analysts that rate Marvell Technology Group a buy, one analyst rates it a sell, and seven rate it a hold. TheStreet Ratings rates Marvell Technology Group as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, attractive valuation levels and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income.
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