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Marvell Technology Group (NASDAQ:MRVL) was the target of a significant growth in short interest in the month of May. As of May 15th, there was short interest totalling 5,784,230 shares, a growth of 34.3% from the April 30th total of 4,306,012 shares, American Banking and Market News reports. Based on an average trading volume of 3,701,330 shares, the days-to-cover ratio is presently 1.6 days. Approximately 1.6% of the shares of the company are short sold.

MRVL has been the subject of a number of recent research reports. Analysts at Citigroup Inc. reiterated a “hold” rating on shares of Marvell Technology Group in a research note on Friday, May 23rd. They now have a $16.00 price target on the stock, down previously from $17.00. Separately, analysts at Raymond James raised their price target on shares of Marvell Technology Group from $17.00 to $18.00 in a research note on Friday, May 23rd. They now have an “outperform” rating on the stock. Finally, analysts at Jefferies Group raised their price target on shares of Marvell Technology Group from $16.00 to $17.00 in a research note on Friday, May 23rd. They now have a “hold” rating on the stock. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $16.50.

Shares of Marvell Technology Group (NASDAQ:MRVL) opened at 16.02 on Thursday. Marvell Technology Group has a 52-week low of $10.68 and a 52-week high of $16.65. The stock has a 50-day moving average of $15.64 and a 200-day moving average of $15.07. The company has a market cap of $8.092 billion and a P/E ratio of 22.59.

Marvell Technology Group (NASDAQ:MRVL) last issued its quarterly earnings data on Thursday, May 22nd. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.05. The company had revenue of $957.83 million for the quarter, compared to the consensus estimate of $892.25 million. During the same quarter in the previous year, the company posted $0.19 earnings per share. The company’s revenue for the quarter was up 30.4% on a year-over-year basis. On average, analysts predict that Marvell Technology Group will post $1.16 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Wednesday, July 2nd. Investors of record on Thursday, June 12th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.50%. The ex-dividend date is Tuesday, June 10th.

Marvell Technology Group Ltd. (NASDAQ:MRVL) is a fabless semiconductor provider of application-specific standard products.

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