Marvell Technology Group Ltd. (NASDAQ:MRVL)‘s stock had its “buy” rating reaffirmed by analysts at Cowen and Company in a research note issued to investors on Friday.

MRVL has been the subject of a number of other research reports. BidaskClub cut Marvell Technology Group from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. Jefferies Group LLC restated a “hold” rating and issued a $18.50 price target (down previously from $19.00) on shares of Marvell Technology Group in a research report on Thursday, August 24th. Needham & Company LLC restated a “buy” rating and issued a $21.00 price target on shares of Marvell Technology Group in a research report on Thursday, August 24th. BMO Capital Markets reiterated a “market perform” rating and set a $16.00 price objective on shares of Marvell Technology Group in a research report on Monday, August 28th. Finally, Zacks Investment Research cut Marvell Technology Group from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $19.31.

Marvell Technology Group (NASDAQ MRVL) traded down 0.05% during midday trading on Friday, hitting $18.28. 3,585,668 shares of the stock were exchanged. Marvell Technology Group has a one year low of $12.30 and a one year high of $18.72. The firm has a 50-day moving average price of $17.94 and a 200-day moving average price of $16.53. The stock has a market cap of $9.06 billion, a P/E ratio of 35.43 and a beta of 1.13.

Marvell Technology Group (NASDAQ:MRVL) last announced its quarterly earnings results on Thursday, August 24th. The semiconductor company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.03). Marvell Technology Group had a net margin of 10.97% and a return on equity of 9.99%. The firm 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 business earned $0.18 EPS. The company’s quarterly revenue was up 16.4% compared to the same quarter last year. On average, equities research analysts anticipate that Marvell Technology Group will post $1.13 EPS for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “Marvell Technology Group’s (MRVL) Buy Rating Reaffirmed at Cowen and Company” was first published by American Banking News and is the property of of American Banking News. If you are accessing this article on another publication, it was illegally stolen and reposted in violation of United States & international trademark & copyright legislation. The correct version of this article can be read at https://www.americanbankingnews.com/2017/10/14/marvell-technology-groups-mrvl-buy-rating-reaffirmed-at-cowen-and-company.html.

In related news, major shareholder Sehat Sutardja sold 1,424,819 shares of the business’s stock in a transaction that occurred on Thursday, October 12th. The stock was sold at an average price of $18.52, for a total transaction of $26,387,647.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 15,754,429 shares of company stock worth $287,418,990 over the last three months. 6.80% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in MRVL. Acadian Asset Management lifted its position in Marvell Technology Group by 31,776.3% during the 4th quarter. Acadian Asset Management now owns 180,420 shares of the semiconductor company’s stock worth $1,591,000 after acquiring an additional 179,854 shares in the last quarter. Fourth Swedish National Pension Fund lifted its position in Marvell Technology Group by 3.5% during the 4th quarter. Fourth Swedish National Pension Fund now owns 117,340 shares of the semiconductor company’s stock worth $1,035,000 after acquiring an additional 4,014 shares in the last quarter. DNB Asset Management lifted its position in Marvell Technology Group by 142.7% during the 4th quarter. DNB Asset Management now owns 14,001,291 shares of the semiconductor company’s stock worth $123,491,387 after acquiring an additional 8,233,367 shares in the last quarter. Russell Frank Co lifted its position in Marvell Technology Group by 33.0% during the 4th quarter. Russell Frank Co now owns 903,558 shares of the semiconductor company’s stock worth $7,917,000 after acquiring an additional 224,250 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its position in Marvell Technology Group by 0.6% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 558,370 shares of the semiconductor company’s stock worth $4,925,000 after acquiring an additional 3,400 shares in the last quarter. 76.61% of the stock is currently owned by hedge funds and other institutional investors.

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)

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.