Marvell Technology Group Ltd. (NASDAQ:MRVL) declared a quarterly dividend on Friday, September 22nd, RTT News reports. Shareholders of record on Tuesday, October 10th will be given a dividend of 0.06 per share by the semiconductor company on Thursday, October 26th. This represents a $0.24 dividend on an annualized basis and a yield of 1.34%.

Marvell Technology Group (NASDAQ MRVL) traded down 0.89% on Friday, reaching $17.87. 4,497,266 shares of the company’s stock were exchanged. The stock has a market cap of $8.86 billion, a price-to-earnings ratio of 34.63 and a beta of 1.10. Marvell Technology Group has a one year low of $12.30 and a one year high of $18.67. The firm has a 50 day moving average of $16.65 and a 200-day moving average of $16.25.

Marvell Technology Group (NASDAQ:MRVL) last announced its quarterly earnings results on Thursday, August 24th. The semiconductor company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.03). The company had revenue of $604.75 million for the quarter, compared to analyst estimates of $600.76 million. Marvell Technology Group had a return on equity of 9.99% and a net margin of 10.97%. The firm’s quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter last year, the company posted $0.18 earnings per share. Equities research analysts forecast that Marvell Technology Group will post $1.12 EPS for the current fiscal year.

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MRVL has been the subject of several research analyst reports. CIBC upgraded shares of Marvell Technology Group from a “market perform” rating to an “outperform” rating in a report on Friday, May 26th. BidaskClub downgraded shares of Marvell Technology Group from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 2nd. Jefferies Group LLC reiterated a “hold” rating and set a $18.50 price target (down from $19.00) on shares of Marvell Technology Group in a report on Thursday, August 24th. Needham & Company LLC reiterated a “buy” rating and set a $21.00 price target on shares of Marvell Technology Group in a report on Thursday, August 24th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $16.00 price target on shares of Marvell Technology Group in a report on Monday, August 28th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Marvell Technology Group currently has a consensus rating of “Buy” and a consensus target price of $19.22.

In other news, major shareholder Sehat Sutardja sold 537,235 shares of the stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $17.57, for a total transaction of $9,439,218.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 5,419,843 shares of company stock worth $96,208,373 in the last three months. Insiders own 6.80% 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.

Dividend History for Marvell Technology Group (NASDAQ:MRVL)

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