Marvell Technology Group (NASDAQ:), which is benefiting from an expansion of 5G technology, has seen its shares rise and fall over the past few months. While the company’s revenue appears to be growing, is it a buy now? Read more to find out.Marvell Technology Group (MRVL), a worldwide semiconductor provider of embedded microprocessors, digital signal processors, and analog and mixed-signal integrated circuits, has been on quite a roller coaster across the past six months. Though the market as a whole has been unpredictable and relatively volatile, MRVL has been especially temperamental.
MRVL moved down to $36 in early November. The stock then climbed up to $45 within weeks. MRVL traded sideways until early to mid-January, when it jumped up to $54. The stock then dipped right back down to $40 in early March, jumped to $48 in mid-March, and is now hovering around $49.
Is MRVL worth buying around $49 per share, or should investors hold off until more profit is taken off the table? Let’s find out.
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