Marvell Technology Group Ltd. (NASDAQ:MRVL) has been given a $19.00 price objective by equities research analysts at Jefferies Group LLC in a research report issued on Wednesday. The brokerage presently has a “hold” rating on the semiconductor company’s stock. Jefferies Group LLC’s price target indicates a potential upside of 3.20% from the company’s previous close.

A number of other brokerages also recently issued reports on MRVL. BMO Capital Markets reissued 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. Cowen and Company reissued a “buy” rating on shares of Marvell Technology Group in a research report on Friday, October 13th. Needham & Company LLC reissued a “buy” rating and set a $21.00 price objective on shares of Marvell Technology Group in a research report on Thursday, August 24th. BidaskClub downgraded shares of Marvell Technology Group from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. Finally, MKM Partners reissued a “buy” rating and set a $20.00 price objective on shares of Marvell Technology Group in a research report on Tuesday, July 4th. 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 company. Marvell Technology Group presently has an average rating of “Buy” and an average price target of $19.34.

Marvell Technology Group (NASDAQ MRVL) remained flat at $18.41 during midday trading on Wednesday. The company’s stock had a trading volume of 1,609,394 shares. Marvell Technology Group has a 1-year low of $12.30 and a 1-year high of $18.72. The company has a 50 day moving average of $18.08 and a 200 day moving average of $16.63. The company has a market cap of $9.13 billion, a price-to-earnings ratio of 41.84 and a beta of 1.13.

Marvell Technology Group (NASDAQ:MRVL) last issued its quarterly earnings data on Thursday, August 24th. The semiconductor company reported $0.25 earnings per share (EPS) 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 business had revenue of $604.75 million for the quarter, compared to the consensus estimate of $600.76 million. During the same period in the previous year, the firm earned $0.18 EPS. The company’s revenue was up 16.4% on a year-over-year basis. On average, equities analysts expect that Marvell Technology Group will post $1.13 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “Marvell Technology Group Ltd. (MRVL) Given a $19.00 Price Target at Jefferies Group LLC” was originally reported by American Banking News and is the property of of American Banking News. If you are viewing this report on another domain, it was illegally copied and republished in violation of U.S. & international trademark & copyright law. The legal version of this report can be read at https://www.americanbankingnews.com/2017/10/22/marvell-technology-group-ltd-mrvl-given-a-19-00-price-target-at-jefferies-group-llc.html.

In other news, major shareholder Sehat Sutardja sold 420,422 shares of the company’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $17.84, for a total transaction of $7,500,328.48. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 16,229,200 shares of company stock worth $296,192,758 over the last 90 days. Corporate insiders own 6.80% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in MRVL. BlackRock Inc. raised its position in shares of Marvell Technology Group by 4,078.2% during the 1st 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 in the last quarter. Boston Partners purchased a new stake in shares of Marvell Technology Group during the 2nd quarter valued at about $133,179,000. Renaissance Technologies LLC raised its position in shares of Marvell Technology Group by 239.6% during the 2nd 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 in the last quarter. Jennison Associates LLC purchased a new stake in shares of Marvell Technology Group during the 2nd quarter valued at about $36,663,000. Finally, TimesSquare Capital Management LLC raised its position in shares of Marvell Technology Group by 60.2% during the 2nd quarter. TimesSquare Capital Management LLC now owns 4,461,600 shares of the semiconductor company’s stock valued at $73,706,000 after buying an additional 1,677,100 shares in the last quarter. Hedge funds and other institutional investors 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.

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.