Marvell Technology Group Ltd. (NASDAQ:MRVL) – Analysts at KeyCorp issued their Q1 2019 earnings per share estimates for Marvell Technology Group in a research note issued on Monday. KeyCorp analyst M. Mcconnell expects that the semiconductor company will post earnings per share of $0.23 for the quarter. KeyCorp has a “Buy” rating and a $25.00 price target on the stock. KeyCorp also issued estimates for Marvell Technology Group’s Q2 2019 earnings at $0.31 EPS, Q3 2019 earnings at $0.36 EPS and Q4 2019 earnings at $0.35 EPS.

Several other equities research analysts have also issued reports on MRVL. B. Riley reaffirmed a “buy” rating and issued a $23.00 price objective on shares of Marvell Technology Group in a research note on Friday, September 1st. BidaskClub cut shares of Marvell Technology Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. Oppenheimer Holdings, Inc. reissued a “buy” rating and set a $23.00 target price on shares of Marvell Technology Group in a research report on Friday, August 25th. Cowen and Company reissued an “outperform” rating and set a $21.00 target price on shares of Marvell Technology Group in a research report on Wednesday, June 21st. Finally, Northland Securities restated a “buy” rating and set a $20.00 target price on shares of Marvell Technology Group in a report on Friday, August 25th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $19.30.

TRADEMARK VIOLATION WARNING: This piece was published by American Banking News and is the sole property of of American Banking News. If you are reading this piece on another publication, it was illegally copied and republished in violation of United States and international trademark & copyright laws. The legal version of this piece can be accessed at https://www.americanbankingnews.com/2017/10/04/marvell-technology-group-ltd-mrvl-to-post-q1-2019-earnings-of-0-23-per-share-keycorp-forecasts.html.

Marvell Technology Group (NASDAQ MRVL) traded up 0.43% during trading on Wednesday, hitting $18.51. The company’s stock had a trading volume of 4,771,568 shares. The company has a 50-day moving average of $17.35 and a 200 day moving average of $16.39. The firm has a market cap of $9.18 billion, a PE ratio of 35.87 and a beta of 1.13. Marvell Technology Group has a one year low of $12.30 and a one year high of $18.72.

Marvell Technology Group (NASDAQ:MRVL) last posted its quarterly earnings results on Thursday, August 24th. The semiconductor company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.03). The business had revenue of $604.75 million during the quarter, compared to analysts’ expectations of $600.76 million. Marvell Technology Group had a net margin of 10.97% and a return on equity of 9.99%. Marvell Technology Group’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.18 earnings per share.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 26th. Investors of record on Tuesday, October 10th will be paid a $0.06 dividend. The ex-dividend date is Friday, October 6th. This represents a $0.24 dividend on an annualized basis and a yield of 1.30%. Marvell Technology Group’s payout ratio is currently 47.06%.

In other news, major shareholder Sehat Sutardja sold 93,895 shares of the stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $18.02, for a total value of $1,691,987.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders sold 5,513,738 shares of company stock worth $97,900,361. 6.80% of the stock is currently owned by insiders.

Several institutional investors have recently bought and sold shares of the stock. Achmea Investment Management B.V. acquired a new stake in Marvell Technology Group in the 2nd quarter valued at $214,000. USA Financial Portformulas Corp bought a new stake in Marvell Technology Group in the second quarter valued at $466,000. Dynamic Technology Lab Private Ltd grew its position in Marvell Technology Group by 323.5% in the second quarter. Dynamic Technology Lab Private Ltd now owns 85,560 shares of the semiconductor company’s stock valued at $1,413,000 after acquiring an additional 65,357 shares during the period. Koch Industries Inc. bought a new stake in Marvell Technology Group in the second quarter valued at $654,000. Finally, Piedmont Investment Advisors LLC grew its position in Marvell Technology Group by 43.5% in the second quarter. Piedmont Investment Advisors LLC now owns 157,558 shares of the semiconductor company’s stock valued at $2,603,000 after acquiring an additional 47,730 shares during the period. Institutional investors and hedge funds own 76.61% 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.

Earnings History and Estimates for Marvell Technology Group (NASDAQ:MRVL)

Receive News & Ratings for Marvell Technology Group Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marvell Technology Group Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.