Q3 2018 EPS Estimates for Marvell Technology Group Ltd. (MRVL) Raised by Analyst
Marvell Technology Group Ltd. (NASDAQ:MRVL) – Stock analysts at B. Riley raised their Q3 2018 EPS estimates for Marvell Technology Group in a research report issued on Wednesday. B. Riley analyst C. Ellis now forecasts that the semiconductor company will post earnings per share of $0.29 for the quarter, up from their previous estimate of $0.28. B. Riley currently has a “Buy” rating and a $24.00 price target on the stock. B. Riley also issued estimates for Marvell Technology Group’s Q4 2018 earnings at $0.25 EPS, FY2018 earnings at $0.98 EPS, Q3 2019 earnings at $0.30 EPS, Q4 2019 earnings at $0.29 EPS and FY2019 earnings at $1.12 EPS.
Marvell Technology Group (NASDAQ:MRVL) last posted its quarterly earnings results on Thursday, August 24th. The semiconductor company reported $0.25 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.03). Marvell Technology Group had a return on equity of 9.99% and a net margin of 10.97%. The business had revenue of $604.75 million during the quarter, compared to analysts’ expectations of $600.76 million. During the same quarter in the prior year, the firm earned $0.18 EPS. The firm’s revenue for the quarter was up 16.4% compared to the same quarter last year. ILLEGAL ACTIVITY NOTICE: “Q3 2018 EPS Estimates for Marvell Technology Group Ltd. (MRVL) Raised by Analyst” was first posted by American Banking News and is the sole property of of American Banking News. If you are accessing this report on another website, it was stolen and reposted in violation of US & international copyright laws. The legal version of this report can be viewed at https://www.americanbankingnews.com/2017/09/25/q3-2018-eps-estimates-for-marvell-technology-group-ltd-mrvl-raised-by-analyst.html.
Several other analysts have also commented on MRVL. Morgan Stanley increased their price objective on Marvell Technology Group from $17.00 to $18.50 and gave the company an “equal weight” rating in a report on Tuesday, May 30th. Pacific Crest upgraded Marvell Technology Group from a “sector weight” rating to an “overweight” rating and set a $22.00 target price for the company in a research note on Tuesday, June 20th. Cowen and Company restated an “outperform” rating and issued a $21.00 target price on shares of Marvell Technology Group in a research note on Wednesday, June 21st. MKM Partners restated a “buy” rating and issued a $20.00 target price on shares of Marvell Technology Group in a research note on Tuesday, July 4th. Finally, BidaskClub lowered Marvell Technology Group from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Marvell Technology Group has a consensus rating of “Buy” and a consensus price target of $19.22.
Marvell Technology Group (MRVL) opened at 17.87 on Monday. The stock has a market cap of $8.86 billion, a PE ratio of 34.63 and a beta of 1.10. Marvell Technology Group has a 1-year low of $12.30 and a 1-year high of $18.67. The stock has a 50 day moving average price of $16.65 and a 200 day moving average price of $16.25.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 26th. Stockholders of record on Tuesday, October 10th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.34%. Marvell Technology Group’s dividend payout ratio (DPR) is presently 47.06%.
In other news, major shareholder Sehat Sutardja sold 552,500 shares of the firm’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $18.53, for a total transaction of $10,237,825.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 5,419,843 shares of company stock worth $96,208,373 over the last 90 days. Insiders own 6.80% of the company’s stock.
Large investors have recently bought and sold shares of the company. D.A. Davidson & CO. grew its position in shares of Marvell Technology Group by 10.2% during the 2nd quarter. D.A. Davidson & CO. now owns 6,461 shares of the semiconductor company’s stock valued at $106,000 after acquiring an additional 600 shares during the period. Tower Research Capital LLC TRC boosted its holdings in Marvell Technology Group by 1,740.4% in the 1st quarter. Tower Research Capital LLC TRC now owns 7,969 shares of the semiconductor company’s stock worth $122,000 after buying an additional 7,536 shares during the last quarter. Creative Planning boosted its holdings in Marvell Technology Group by 39.8% in the 2nd quarter. Creative Planning now owns 10,008 shares of the semiconductor company’s stock worth $165,000 after buying an additional 2,850 shares during the last quarter. United Capital Financial Advisers LLC acquired a new stake in Marvell Technology Group in the 1st quarter worth about $165,000. Finally, Achmea Investment Management B.V. acquired a new stake in Marvell Technology Group in the 2nd quarter worth about $214,000. Hedge funds and other institutional investors own 76.61% 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.
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