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.

Analyst Recommendations for Marvell Technology Group (NASDAQ:MRVL)

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