Marvell Technology Group Ltd. (NASDAQ:MRVL) is scheduled to be releasing its earnings data after the market closes on Wednesday, November 15th. Analysts expect Marvell Technology Group to post earnings of $0.31 per share for the quarter. Marvell Technology Group has set its Q3 guidance at $0.30-0.34 EPS.

Marvell Technology Group (NASDAQ:MRVL) last posted its earnings results on Thursday, August 24th. The semiconductor company reported $0.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate 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 analysts’ expectations of $600.76 million. During the same period last year, the firm posted $0.18 earnings per share. Marvell Technology Group’s quarterly revenue was up 16.4% on a year-over-year basis. On average, analysts expect Marvell Technology Group to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Marvell Technology Group Ltd. (NASDAQ:MRVL) opened at $20.13 on Wednesday. Marvell Technology Group Ltd. has a 12 month low of $12.30 and a 12 month high of $21.08. The stock has a market capitalization of $9,990.00, a P/E ratio of 23.73, a PEG ratio of 1.27 and a beta of 1.05.

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 26th. Stockholders of record on Tuesday, October 10th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, October 6th. This represents a $0.24 annualized dividend and a dividend yield of 1.19%. Marvell Technology Group’s dividend payout ratio (DPR) is presently 54.55%.

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In other news, major shareholder Sehat Sutardja sold 420,422 shares of the company’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $17.84, for a total transaction of $7,500,328.48. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 17,558,035 shares of company stock worth $320,838,284. Corporate insiders own 6.80% of the company’s stock.

Several research firms have recently issued reports on MRVL. Oppenheimer Holdings, Inc. reissued a “buy” rating and set a $23.00 target price on shares of Marvell Technology Group in a research note on Monday. Citigroup Inc. upgraded Marvell Technology Group from a “sell” rating to a “neutral” rating and set a $22.00 price target on the stock in a research report on Tuesday. Jefferies Group LLC set a $19.00 price target on Marvell Technology Group and gave the company a “hold” rating in a research report on Wednesday, October 18th. KeyCorp restated a “buy” rating and set a $25.00 price target on shares of Marvell Technology Group in a research report on Wednesday, October 4th. Finally, Cowen and Company restated a “buy” rating on shares of Marvell Technology Group in a research report on Friday, October 13th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Marvell Technology Group has a consensus rating of “Buy” and an average price target of $19.29.

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 for Marvell Technology Group (NASDAQ:MRVL)

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