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Shares of Marvell Technology Group (NASDAQ:MRVL) were the recipient of a significant 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, Analyst Ratings Network.com reports. Based on an average daily trading volume, of 4,463,200 shares, the short-interest ratio is presently 2.0 days. Approximately 2.2% of the company’s stock are short sold.

A number of analysts have recently weighed in on MRVL shares. Analysts at Benchmark Co. reiterated a “hold” rating on shares of Marvell Technology Group in a research note on Friday, August 22nd. They now have a $15.00 price target on the stock, down previously from $16.00. Separately, analysts at Jefferies Group reiterated a “hold” rating on shares of Marvell Technology Group in a research note on Friday, August 22nd. They now have a $15.00 price target on the stock, down previously from $17.00. Finally, analysts at Brean Capital cut their price target on shares of Marvell Technology Group from $19.00 to $17.00 in a research note on Friday, August 22nd. They now have a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $16.70.

Shares of Marvell Technology Group (NASDAQ:MRVL) opened at 13.91 on Monday. Marvell Technology Group has a 1-year low of $10.87 and a 1-year high of $16.65. The stock has a 50-day moving average of $13.59 and a 200-day moving average of $14.94. The company has a market cap of $7.119 billion and a P/E ratio of 16.19.

Marvell Technology Group (NASDAQ:MRVL) last posted its quarterly earnings results 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. Analysts expect that Marvell Technology Group will post $1.17 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Thursday, October 2nd. Shareholders 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 1.73%. The ex-dividend date is Tuesday, September 9th.

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

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