Marvell Technology Group Ltd. (MRVL) Set to Announce Earnings on Wednesday
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%.
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.
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.