Marvell Technology Group Ltd. (MRVL) Forecasted to Earn FY2018 Earnings of $1.01 Per Share

Marvell Technology Group Ltd. (NASDAQ:MRVL) – Equities research analysts at B. Riley boosted their FY2018 earnings per share estimates for shares of Marvell Technology Group in a report released on Wednesday. B. Riley analyst C. Ellis now forecasts that the semiconductor company will earn $1.01 per share for the year, up from their previous estimate of $0.98. B. Riley has a “Buy” rating and a $29.00 price objective on the stock. B. Riley also issued estimates for Marvell Technology Group’s Q4 2018 earnings at $0.28 EPS, Q1 2019 earnings at $0.26 EPS and Q2 2019 earnings at $0.30 EPS.

Other equities analysts have also recently issued reports about the company. Northland Securities restated a “buy” rating and set a $20.00 target price on shares of Marvell Technology Group in a report on Friday, August 25th. Cowen restated a “buy” rating and set a $21.00 target price on shares of Marvell Technology Group in a report on Monday, August 21st. BidaskClub upgraded Marvell Technology Group from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 16th. Citigroup upgraded Marvell Technology Group from a “sell” rating to a “neutral” rating and set a $22.00 target price for the company in a report on Tuesday, November 7th. Finally, Loop Capital reiterated a “buy” rating and issued a $28.00 price objective on shares of Marvell Technology Group in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $23.48.

Shares of Marvell Technology Group (MRVL) traded down $0.16 during trading on Friday, reaching $22.18. The company had a trading volume of 13,143,256 shares, compared to its average volume of 6,813,869. Marvell Technology Group has a 12 month low of $13.59 and a 12 month high of $24.22. The stock has a market cap of $11,000.00, a PE ratio of 25.02, a price-to-earnings-growth ratio of 1.64 and a beta of 1.05.

Marvell Technology Group (NASDAQ:MRVL) last announced its earnings results on Tuesday, November 28th. The semiconductor company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $616.00 million during the quarter, compared to analysts’ expectations of $613.49 million. During the same period last year, the business posted $0.20 EPS. Marvell Technology Group’s revenue for the quarter was down 5.8% on a year-over-year basis.

Several hedge funds and other institutional investors have recently modified their holdings of MRVL. Creative Planning increased its position in Marvell Technology Group by 39.8% during the second quarter. Creative Planning now owns 10,008 shares of the semiconductor company’s stock worth $165,000 after buying an additional 2,850 shares during the period. NGAM Advisors L.P. increased its position in Marvell Technology Group by 28.4% during the second quarter. NGAM Advisors L.P. now owns 171,521 shares of the semiconductor company’s stock worth $2,834,000 after buying an additional 37,892 shares during the period. Janney Montgomery Scott LLC increased its position in Marvell Technology Group by 8.2% during the second quarter. Janney Montgomery Scott LLC now owns 37,134 shares of the semiconductor company’s stock worth $613,000 after buying an additional 2,825 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its position in Marvell Technology Group by 6.9% during the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 209,398 shares of the semiconductor company’s stock worth $3,459,000 after buying an additional 13,597 shares during the period. Finally, State of New Jersey Common Pension Fund D acquired a new position in Marvell Technology Group during the second quarter worth approximately $2,478,000. 78.10% of the stock is currently owned by institutional investors and hedge funds.

In other news, major shareholder Sehat Sutardja sold 420,422 shares of the firm’s stock in a transaction dated 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 document filed with the SEC, which is accessible through the SEC website. Insiders have sold a total of 17,558,035 shares of company stock worth $320,838,284 in the last three months. Corporate insiders own 6.80% of the company’s stock.

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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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