Marvell Technology Group Ltd. (NASDAQ:MRVL)‘s stock had its “buy” rating reiterated by investment analysts at Credit Suisse Group in a report issued on Wednesday.

MRVL has been the topic of several other reports. Zacks Investment Research downgraded Marvell Technology Group from a “buy” rating to a “hold” rating in a research note on Wednesday, May 3rd. B. Riley reaffirmed a “buy” rating and issued a $23.00 target price on shares of Marvell Technology Group in a report on Wednesday, June 28th. BidaskClub lowered Marvell Technology Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. TheStreet upgraded Marvell Technology Group from a “c” rating to a “b” rating in a research note on Thursday, May 25th. Finally, Oppenheimer Holdings, Inc. upgraded Marvell Technology Group from a “market perform” rating to an “outperform” rating and set a $18.50 price target for the company in a research note on Friday, May 26th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Marvell Technology Group presently has a consensus rating of “Buy” and an average price target of $18.44.

Marvell Technology Group (NASDAQ:MRVL) opened at 15.92 on Wednesday. Marvell Technology Group has a 52-week low of $11.68 and a 52-week high of $18.18. The firm has a market capitalization of $8.00 billion, a price-to-earnings ratio of 53.78 and a beta of 1.10. The stock’s 50 day moving average price is $15.92 and its 200 day moving average price is $16.02.

Marvell Technology Group (NASDAQ:MRVL) last posted its earnings results on Thursday, May 25th. The semiconductor company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $579.18 million for the quarter, compared to the consensus estimate of $570.72 million. During the same quarter in the prior year, the business earned $0.01 EPS. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, equities analysts anticipate that Marvell Technology Group will post $1.10 earnings per share for the current fiscal year.

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Large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Marvell Technology Group by 0.9% in the second quarter. Vanguard Group Inc. now owns 32,190,297 shares of the semiconductor company’s stock valued at $531,785,000 after buying an additional 290,339 shares during the period. BlackRock Inc. boosted its position in shares of Marvell Technology Group by 4,078.2% in the first quarter. BlackRock Inc. now owns 24,309,056 shares of the semiconductor company’s stock worth $370,955,000 after buying an additional 23,727,243 shares during the last quarter. State Street Corp boosted its position in shares of Marvell Technology Group by 3.6% in the first quarter. State Street Corp now owns 9,846,772 shares of the semiconductor company’s stock worth $150,267,000 after buying an additional 341,686 shares during the last quarter. Contour Asset Management LLC boosted its position in shares of Marvell Technology Group by 11.5% in the second quarter. Contour Asset Management LLC now owns 9,192,978 shares of the semiconductor company’s stock worth $151,868,000 after buying an additional 944,622 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its position in shares of Marvell Technology Group by 2.3% in the second quarter. UBS Asset Management Americas Inc. now owns 8,901,332 shares of the semiconductor company’s stock worth $147,050,000 after buying an additional 195,985 shares during the last quarter. Institutional investors and hedge funds own 75.80% of the company’s stock.

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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