Marvell Technology Group Ltd. (NASDAQ:MRVL) – Equities researchers at Oppenheimer raised their FY2018 EPS estimates for shares of Marvell Technology Group in a note issued to investors on Wednesday. Oppenheimer analyst R. Schafer now forecasts that the semiconductor company will earn $1.02 per share for the year, up from their prior forecast of $0.99. Oppenheimer currently has a “Buy” rating and a $30.00 target price on the stock. Oppenheimer also issued estimates for Marvell Technology Group’s Q4 2018 earnings at $0.27 EPS, Q1 2019 earnings at $0.27 EPS and Q2 2019 earnings at $0.29 EPS.

MRVL has been the subject of a number of other reports. B. Riley reissued a “buy” rating and issued a $23.00 price target on shares of Marvell Technology Group in a report on Friday, September 1st. BMO Capital Markets boosted their price objective on Marvell Technology Group to $25.00 and gave the company a “market perform” rating in a research report on Monday. Jefferies Group set a $19.00 price objective on Marvell Technology Group and gave the company a “hold” rating in a research report on Wednesday, October 18th. Bank of America upgraded Marvell Technology Group from a “neutral” rating to a “buy” rating in a research report on Monday, November 20th. Finally, Needham & Company LLC boosted their price objective on Marvell Technology Group from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $23.48.

Shares of Marvell Technology Group (NASDAQ:MRVL) traded down $0.16 during trading hours on Friday, reaching $22.18. The company’s stock had a trading volume of 13,143,256 shares, compared to its average volume of 6,813,869. Marvell Technology Group has a one year low of $13.59 and a one year high of $24.22. The firm has a market capitalization of $11,000.00, a P/E ratio of 25.02, a PEG ratio of 1.64 and a beta of 1.05.

Marvell Technology Group (NASDAQ:MRVL) last issued its quarterly earnings results on Tuesday, November 28th. The semiconductor company reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.01. Marvell Technology Group had a return on equity of 11.99% and a net margin of 16.53%. The business had revenue of $616.00 million for the quarter, compared to analyst estimates of $613.49 million. During the same quarter in the previous year, the firm earned $0.20 earnings per share. The company’s revenue was down 5.8% on a year-over-year basis.

Large investors have recently modified their holdings of the business. D.A. Davidson & CO. grew its holdings in Marvell Technology Group by 10.2% in the 2nd quarter. D.A. Davidson & CO. now owns 6,461 shares of the semiconductor company’s stock valued at $106,000 after buying an additional 600 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in Marvell Technology Group in the 3rd quarter valued at $106,000. Massey Quick Simon & CO. LLC purchased a new stake in Marvell Technology Group in the 3rd quarter valued at $124,000. Creative Planning grew its holdings in Marvell Technology Group by 39.8% in the 2nd quarter. Creative Planning now owns 10,008 shares of the semiconductor company’s stock valued at $165,000 after buying an additional 2,850 shares in the last quarter. Finally, Boothbay Fund Management LLC purchased a new stake in Marvell Technology Group in the 3rd quarter valued at $203,000. Institutional investors own 78.10% of the company’s stock.

In other Marvell Technology Group 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 value of $7,500,328.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders sold 17,558,035 shares of company stock valued at $320,838,284. 6.80% of the stock is owned by company insiders.

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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.

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

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