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Stock analysts at Brean Capital reduced their target price on shares of Marvell Technology Group (NASDAQ:MRVL) from $19.00 to $17.00 in a report issued on Friday. The firm currently has a “buy” rating on the stock. Brean Capital’s price objective points to a potential upside of 24.63% from the stock’s previous close.

Marvell Technology Group (NASDAQ:MRVL) opened at 13.64 on Friday. Marvell Technology Group has a 52 week low of $10.87 and a 52 week high of $16.65. The stock has a 50-day moving average of $13.69 and a 200-day moving average of $14.97. The company has a market cap of $6.932 billion and a price-to-earnings ratio of 19.04. Marvell Technology Group also was the target of some unusual options trading on Thursday. Stock investors bought 3,157 put options on the stock. This represents an increase of 232% compared to the average volume of 950 put options.

Marvell Technology Group (NASDAQ:MRVL) last posted its quarterly earnings results on Thursday, August 21st. The company reported $0.34 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.28 by $0.06. The company had revenue of $961.50 million for the quarter, compared to the consensus estimate of $961.56 million. During the same quarter in the prior year, the company posted $0.23 earnings per share. The company’s quarterly revenue was up 19.2% on a year-over-year basis. Analysts expect that Marvell Technology Group will post $1.15 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Thursday, October 2nd. Stockholders of record on Thursday, September 11th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.76%.

A number of other firms have also recently commented on MRVL. Analysts at RBC Capital cut their price target on shares of Marvell Technology Group from $23.00 to $22.00 in a research note on Friday. They now have a “top pick” rating on the stock. Separately, analysts at MKM Partners cut their price target on shares of Marvell Technology Group from $19.00 to $17.00 in a research note on Monday. They now have a “buy” rating on the stock. Finally, analysts at Standpoint Research upgraded shares of Marvell Technology Group from a “hold” rating to a “buy” rating in a research note on Thursday, August 14th. They now have a $17.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Marvell Technology Group has an average rating of “Buy” and an average target price of $16.65.

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

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