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A number of stock research firms have changed their ratings and price targets for Marvell Technology Group (NASDAQ: MRVL) during the last seven days:

  • Marvell Technology Group had its price target lowered by analysts at MKM Partners from $19.00 to $17.00. They now have a “buy” rating on the stock.
  • Marvell Technology Group had its price target lowered by analysts at RBC Capital from $23.00 to $22.00. They now have a “top pick” rating on the stock.
  • Marvell Technology Group had its “hold” rating reaffirmed by analysts at Jefferies Group. They now have a $15.00 price target on the stock, down previously from $17.00.
  • Marvell Technology Group had its price target lowered by analysts at Brean Capital from $19.00 to $17.00. They now have a “buy” rating on the stock.
  • Marvell Technology Group had its “hold” rating reaffirmed by analysts at Benchmark Co.. They now have a $15.00 price target on the stock, down previously from $16.00.

Shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) opened at 13.49 on Wednesday. Marvell Technology Group Ltd. has a 1-year low of $10.87 and a 1-year high of $16.65. The stock’s 50-day moving average is $13.64 and its 200-day moving average is $14.96. The company has a market cap of $6.904 billion and a price-to-earnings ratio of 15.72. Marvell Technology Group also saw a large growth in short interest in the month of August. As of August 15th, there was short interest totalling 8,883,070 shares, a growth of 20.0% from the July 31st total of 7,405,099 shares. Based on an average daily volume of 4,463,200 shares, the short-interest ratio is presently 2.0 days. Approximately 2.2% of the shares of the company are sold short.

Marvell Technology Group (NASDAQ:MRVL) last released its earnings data on Thursday, August 21st. The company reported $0.34 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.23 earnings per share. The company’s revenue for the quarter was up 19.2% on a year-over-year basis. On average, analysts predict that Marvell Technology Group Ltd. will post $1.16 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Thursday, October 2nd. Investors of record on Thursday, September 11th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Tuesday, September 9th.

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

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