Price/Volume Alert: Marvell Tech (MRVL)

Posted in pre-market 
July 7th, 2009

Marvell Technology Group Ltd. (NASDAQ: MRVL) is spiking higher in pre-market trading.  While only 33,000 shares have traded as of 8:53 AM EST, we expect this to trade more shares as the market gets closer to opening. Its average daily volume is more than 15 million and some glitches on the open NASDAQ site may have limited some of the trading volume or may have limited some of its reporting.  This was raised to BUY along with several other chip stocks at Bank of America/Merrill Lynch this morning.  The last print was up almost 4.4% at $11.90 and the 52-weekk range is $4.48 to $17.67.  -Jon Ogg

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