Marvell Technology Group Receives Consensus Rating of “Buy” from Analysts (NASDAQ:MRVL)
Shares of Marvell Technology Group (NASDAQ:MRVL) have received a consensus recommendation of “Buy” from the twenty-five brokerages that are covering the stock, AnalystRatings.NET reports. Six equities research analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $16.54.
Shares of Marvell Technology Group (NASDAQ:MRVL) traded up 0.27% during mid-day trading on Friday, hitting $14.7399. 1,062,136 shares of the company’s stock traded hands. Marvell Technology Group has a 1-year low of $10.82 and a 1-year high of $16.65. The stock’s 50-day moving average is $15.38 and its 200-day moving average is $15.12. The company has a market cap of $7.491 billion and a P/E ratio of 20.68.
Marvell Technology Group (NASDAQ:MRVL) last announced its earnings results 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. Analysts expect that Marvell Technology Group will post $1.14 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, July 2nd. Stockholders 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 1.63%. The ex-dividend date is Tuesday, June 10th.
A number of analysts have recently weighed in on MRVL shares. Analysts at Susquehanna downgraded shares of Marvell Technology Group from a “positive” rating to a “neutral” rating in a research note on Friday, June 13th. They now have a $16.00 price target on the stock, down previously from $19.00. Separately, analysts at Nomura upgraded shares of Marvell Technology Group from a “neutral” rating to a “buy” rating in a research note on Wednesday, June 11th. They now have a $19.00 price target on the stock, up previously from $15.00. Finally, 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.
Marvell Technology Group Ltd. (NASDAQ:MRVL) is a fabless semiconductor provider of application-specific standard products.
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