Marvell Technology Group Ltd. (NASDAQ:MRVL) is scheduled to announce its earnings results after the market closes on Thursday, August 24th. Analysts expect the company to announce earnings of $0.28 per share for the quarter. Marvell Technology Group has set its Q2 guidance at $0.26-0.30 EPS.

Marvell Technology Group (NASDAQ:MRVL) last announced its earnings results on Thursday, May 25th. The semiconductor company reported $0.20 EPS for the quarter, beating the Thomson Reuters’ 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 for the quarter, compared to analysts’ expectations of $570.72 million. During the same period in the prior year, the business posted $0.01 earnings per share. The firm’s revenue was up 11.5% on a year-over-year basis. On average, analysts expect Marvell Technology Group to post $1.10 EPS for the current fiscal year and $1.23 EPS for the next fiscal year.

Shares of Marvell Technology Group Ltd. (NASDAQ MRVL) opened at 15.95 on Thursday. The company has a market capitalization of $8.02 billion, a PE ratio of 53.89 and a beta of 1.10. The company has a 50-day moving average price of $16.02 and a 200 day moving average price of $16.00. Marvell Technology Group Ltd. has a one year low of $11.38 and a one year high of $18.18.

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 21st. Investors of record on Wednesday, July 5th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, June 30th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.50%. Marvell Technology Group’s dividend payout ratio is 82.76%.

A number of equities analysts have commented on MRVL shares. Oppenheimer Holdings, Inc. raised Marvell Technology Group from a “market perform” rating to an “outperform” rating and set a $18.50 price target on the stock in a research note on Friday, May 26th. BidaskClub cut Marvell Technology Group from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Cowen and Company reaffirmed an “outperform” rating and issued a $21.00 price target on shares of Marvell Technology Group in a research note on Wednesday, June 21st. Zacks Investment Research cut Marvell Technology Group from a “buy” rating to a “hold” rating in a research note on Wednesday, May 3rd. Finally, B. Riley reaffirmed a “buy” rating and issued a $23.00 price target on shares of Marvell Technology Group in a research note on Wednesday, June 28th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $18.44.

WARNING: This story was published by American Banking News and is owned by of American Banking News. If you are reading this story on another publication, it was stolen and republished in violation of US and international copyright & trademark legislation. The correct version of this story can be read at https://www.americanbankingnews.com/2017/08/17/marvell-technology-group-ltd-mrvl-scheduled-to-post-quarterly-earnings-on-thursday.html.

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.

Earnings History for Marvell Technology Group (NASDAQ:MRVL)

Receive News & Ratings for Marvell Technology Group Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marvell Technology Group Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.