Shares of Marvell Technology Inc. (NASDAQ:MRVL) traded at a new 52-week high today of $67.93. Approximately 1.1 million shares have changed hands today, as compared to an average 30-day volume of 6 million shares.
Marvell Technology is a leading fabless chipmaker focused on networking and storage applications. Marvell serves the data center, carrier, enterprise, automotive, and consumer end markets with processors, optical interconnections, application-specific integrated circuits (ASICs), and merchant silicon for ethernet applications. The firm is an active acquirer, with five large acquisitions since 2017 helping it pivot out of legacy consumer applications to focus on the cloud and 5G markets.
Marvell Technology Inc. (NASDAQ:MRVL) defies analysts with a current price ($67.83) 13.6% above its average consensus price target of $58.59.
In the past 52 weeks, Marvell Technology Inc. share prices are bracketed by a low of $35.30 and a high of $67.93 and is now at $67.83, 92% above that low price.
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