Marvell Technology Group Ltd. (MRVL) Scheduled to Post Quarterly Earnings on Thursday
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.
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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.
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