Marvell Technology Group (NASDAQ:MRVL) had its price objective boosted by Morgan Stanley from $20.50 to $22.00 in a research note issued on Wednesday. The firm currently has an “equal weight” rating on the semiconductor company’s stock. Morgan Stanley’s price target would indicate a potential downside of 0.86% from the stock’s previous close.

A number of other equities research analysts have also weighed in on MRVL. B. Riley restated a “buy” rating and issued a $23.00 price objective on shares of Marvell Technology Group in a report on Friday, September 1st. BidaskClub upgraded shares of Marvell Technology Group from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 16th. Cowen restated a “buy” rating and issued a $21.00 price objective on shares of Marvell Technology Group in a report on Monday, August 21st. KeyCorp raised their price objective on shares of Marvell Technology Group from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Friday, August 25th. Finally, Zacks Investment Research upgraded shares of Marvell Technology Group from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a report on Tuesday, November 21st. Eight analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $23.87.

Shares of Marvell Technology Group (MRVL) traded up $0.14 on Wednesday, hitting $22.19. 4,662,200 shares of the stock were exchanged, compared to its average volume of 6,816,621. Marvell Technology Group has a fifty-two week low of $13.83 and a fifty-two week high of $24.22. The firm has a market cap of $10,830.96, a price-to-earnings ratio of 23.71, a price-to-earnings-growth ratio of 1.33 and a beta of 1.13.

Marvell Technology Group (NASDAQ:MRVL) last announced its quarterly earnings data on Tuesday, November 28th. The semiconductor company reported $0.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.01. Marvell Technology Group had a net margin of 16.53% and a return on equity of 11.93%. The business had revenue of $616.00 million for the quarter, compared to analyst estimates of $613.49 million. During the same period last year, the business earned $0.20 EPS. The company’s revenue was down 5.8% on a year-over-year basis. analysts anticipate that Marvell Technology Group will post 1.01 earnings per share for the current fiscal year.

In other Marvell Technology Group news, insider Marvell Semiconductor, Inc. Ca sold 9,812 shares of the firm’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $21.20, for a total transaction of $208,014.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Sehat Sutardja sold 1,375,000 shares of the firm’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $17.84, for a total transaction of $24,530,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 14,075,504 shares of company stock worth $259,605,751 over the last quarter. 6.80% of the stock is owned by company insiders.

A number of institutional investors have recently modified their holdings of MRVL. Krilogy Financial LLC boosted its holdings in shares of Marvell Technology Group by 1.6% in the second quarter. Krilogy Financial LLC now owns 15,600 shares of the semiconductor company’s stock valued at $258,000 after acquiring an additional 250 shares in the last quarter. Utah Retirement Systems boosted its holdings in shares of Marvell Technology Group by 0.4% in the second quarter. Utah Retirement Systems now owns 73,725 shares of the semiconductor company’s stock valued at $1,218,000 after acquiring an additional 300 shares in the last quarter. M&T Bank Corp boosted its holdings in shares of Marvell Technology Group by 1.3% in the second quarter. M&T Bank Corp now owns 30,943 shares of the semiconductor company’s stock valued at $512,000 after acquiring an additional 402 shares in the last quarter. D.A. Davidson & CO. boosted its holdings in shares of Marvell Technology Group by 10.2% in the second quarter. D.A. Davidson & CO. now owns 6,461 shares of the semiconductor company’s stock valued at $106,000 after acquiring an additional 600 shares in the last quarter. Finally, Pictet Asset Management Ltd. boosted its holdings in shares of Marvell Technology Group by 0.7% in the second quarter. Pictet Asset Management Ltd. now owns 170,100 shares of the semiconductor company’s stock valued at $2,933,000 after acquiring an additional 1,200 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for Marvell Technology Group (NASDAQ:MRVL)

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