Shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) have been given an average recommendation of “Buy” by the twenty-eight ratings firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $18.14.

Several analysts have recently weighed in on MRVL shares. B. Riley reiterated a “buy” rating and set a $21.00 target price on shares of Marvell Technology Group in a research report on Thursday, March 23rd. Macquarie started coverage on Marvell Technology Group in a research report on Thursday, March 30th. They set a “neutral” rating and a $16.00 target price for the company. MKM Partners reiterated a “buy” rating and set a $20.00 target price on shares of Marvell Technology Group in a research report on Thursday, April 6th. Needham & Company LLC reiterated a “buy” rating and set a $21.00 target price on shares of Marvell Technology Group in a research report on Tuesday, April 18th. Finally, Zacks Investment Research downgraded Marvell Technology Group from a “buy” rating to a “hold” rating in a research report on Wednesday, May 3rd.

Shares of Marvell Technology Group (NASDAQ:MRVL) traded down 1.82% on Friday, reaching $16.18. 5,652,197 shares of the company’s stock traded hands. The firm has a market cap of $8.13 billion, a P/E ratio of 54.66 and a beta of 1.11. Marvell Technology Group has a 12-month low of $11.24 and a 12-month high of $18.18. The stock has a 50-day moving average of $17.01 and a 200 day moving average of $15.83.

Marvell Technology Group (NASDAQ:MRVL) last released its earnings results on Thursday, May 25th. The semiconductor company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.04. Marvell Technology Group had a return on equity of 7.96% and a net margin of 6.19%. The business had revenue of $579.18 million during the quarter, compared to the consensus estimate of $570.72 million. During the same period last year, the company earned $0.01 earnings per share. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. On average, equities research analysts expect that Marvell Technology Group will post $1.10 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 21st. Investors of record on Wednesday, July 5th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, June 30th. This represents a $0.24 annualized dividend and a dividend yield of 1.46%. Marvell Technology Group’s payout ratio is currently 82.76%.

A number of institutional investors have recently bought and sold shares of the stock. Creative Planning raised its position in Marvell Technology Group by 175.3% in the first quarter. Creative Planning now owns 7,158 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 4,558 shares during the period. Envestnet Asset Management Inc. raised its position in Marvell Technology Group by 103.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 7,258 shares of the semiconductor company’s stock valued at $102,000 after buying an additional 3,696 shares during the period. Tower Research Capital LLC TRC raised its position in Marvell Technology Group by 1,740.4% in the first quarter. Tower Research Capital LLC TRC now owns 7,969 shares of the semiconductor company’s stock valued at $122,000 after buying an additional 7,536 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its position in Marvell Technology Group by 454.8% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,777 shares of the semiconductor company’s stock valued at $122,000 after buying an additional 7,195 shares during the period. Finally, James Investment Research Inc. bought a new position in Marvell Technology Group during the first quarter valued at about $138,000. Institutional investors own 74.19% of the company’s stock.

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Marvell Technology Group Company Profile

Marvell Technology Group Ltd. is a semiconductor provider of application-specific standard products. The Company is engaged in the design, development and sale of integrated circuits. The Company develops System-on-a-Chip (SoC) devices. It also develops integrated hardware platforms along with software that incorporates digital computing technologies designed and configured to provide an optimized computing solution.

Analyst Recommendations for Marvell Technology Group (NASDAQ:MRVL)

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