Marvell Technology Group Ltd. (MRVL) Lifted to Sell at BidaskClub
Marvell Technology Group Ltd. (NASDAQ:MRVL) was upgraded by stock analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued on Wednesday.
Several other equities research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Marvell Technology Group from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Cowen and Company restated a “buy” rating on shares of Marvell Technology Group in a research note on Friday, July 14th. MKM Partners restated a “buy” rating and issued a $20.00 target price on shares of Marvell Technology Group in a research note on Tuesday, July 4th. B. Riley restated a “buy” rating and issued a $23.00 target price on shares of Marvell Technology Group in a research note on Wednesday, June 28th. Finally, Pacific Crest upgraded shares of Marvell Technology Group from a “sector weight” rating to an “overweight” rating and set a $22.00 target price on the stock in a research note on Tuesday, June 20th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Marvell Technology Group has a consensus rating of “Buy” and a consensus target price of $18.44.
Marvell Technology Group (MRVL) traded up 0.82% on Wednesday, hitting $15.95. 2,892,213 shares of the stock were exchanged. The stock has a market cap of $8.02 billion, a PE ratio of 53.89 and a beta of 1.10. The company’s 50 day moving average is $16.02 and its 200 day moving average is $16.00. Marvell Technology Group has a 1-year low of $11.38 and a 1-year high of $18.18.
Marvell Technology Group (NASDAQ:MRVL) last announced its quarterly earnings results on Thursday, May 25th. The semiconductor company reported $0.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.04. The firm had revenue of $579.18 million for the quarter, compared to analyst estimates of $570.72 million. Marvell Technology Group had a net margin of 6.19% and a return on equity of 7.96%. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.01 EPS. On average, equities research analysts expect that Marvell Technology Group will post $1.10 earnings per share for the current year.
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A number of hedge funds have recently made changes to their positions in MRVL. D.A. Davidson & CO. boosted its stake in shares of Marvell Technology Group by 10.2% in the second quarter. D.A. Davidson & CO. now owns 6,461 shares of the semiconductor company’s stock worth $106,000 after buying an additional 600 shares during the period. Creative Planning boosted its stake in shares of Marvell Technology Group by 175.3% in the first quarter. Creative Planning now owns 7,158 shares of the semiconductor company’s stock worth $109,000 after buying an additional 4,558 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of 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 worth $122,000 after buying an additional 7,536 shares during the period. James Investment Research Inc. bought a new stake in shares of Marvell Technology Group during the first quarter worth approximately $138,000. Finally, United Capital Financial Advisers LLC bought a new stake in shares of Marvell Technology Group during the first quarter worth approximately $165,000. 75.80% of the stock is owned by hedge funds and other institutional investors.
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.
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