Marvell Technology Group Ltd. (NASDAQ:MRVL)‘s stock had its “market perform” rating reissued by analysts at BMO Capital Markets in a research note issued to investors on Monday. They currently have a $16.00 price objective on the semiconductor company’s stock. BMO Capital Markets’ price objective points to a potential downside of 6.16% from the stock’s current price.

Other equities analysts have also issued reports about the company. B. Riley reiterated a “buy” rating and issued a $23.00 price objective on shares of Marvell Technology Group in a research note on Saturday, May 27th. Zacks Investment Research upgraded Marvell Technology Group from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research note on Friday, May 26th. Citigroup Inc. upgraded Marvell Technology Group to an “outperform” rating and set a $23.00 price objective on the stock in a research note on Friday, May 26th. Finally, Northland Securities reiterated a “buy” rating and issued a $20.00 price objective on shares of Marvell Technology Group in a research note on Friday. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Marvell Technology Group has a consensus rating of “Buy” and a consensus target price of $18.85.

Marvell Technology Group (NASDAQ MRVL) opened at 17.05 on Monday. The company’s 50-day moving average price is $15.92 and its 200-day moving average price is $16.03. The stock has a market capitalization of $8.54 billion, a PE ratio of 33.04 and a beta of 1.10. Marvell Technology Group has a one year low of $12.03 and a one year high of $18.18.

Marvell Technology Group (NASDAQ:MRVL) last posted its quarterly earnings data on Thursday, August 24th. The semiconductor company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by $0.03. The business had revenue of $604.75 million during the quarter, compared to the consensus estimate of $600.76 million. Marvell Technology Group had a return on equity of 9.94% and a net margin of 10.97%. The company’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.18 earnings per share. Equities research analysts predict that Marvell Technology Group will post $1.12 EPS for the current year.

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Hedge funds have recently modified their holdings of the stock. BlackRock Inc. boosted its stake 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 valued at $370,955,000 after buying an additional 23,727,243 shares during the last quarter. Boston Partners acquired a new stake in shares of Marvell Technology Group during the second quarter valued at approximately $133,179,000. UBS Asset Management Americas Inc. boosted its stake in shares of Marvell Technology Group by 71.0% in the first quarter. UBS Asset Management Americas Inc. now owns 8,705,347 shares of the semiconductor company’s stock valued at $132,844,000 after buying an additional 3,613,160 shares during the last quarter. TimesSquare Capital Management LLC acquired a new stake in shares of Marvell Technology Group during the first quarter valued at approximately $42,491,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Marvell Technology Group by 239.6% in the second quarter. Renaissance Technologies LLC now owns 3,886,158 shares of the semiconductor company’s stock valued at $64,199,000 after buying an additional 2,741,914 shares during the last quarter. Institutional investors own 75.60% of the company’s stock.

About Marvell Technology Group

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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