$0.31 EPS Expected for Marvell Technology Group Ltd. (MRVL) This Quarter

Equities research analysts predict that Marvell Technology Group Ltd. (NASDAQ:MRVL) will announce earnings per share (EPS) of $0.31 for the current fiscal quarter, Zacks reports. Nine analysts have issued estimates for Marvell Technology Group’s earnings, with estimates ranging from $0.31 to $0.32. Marvell Technology Group posted earnings of $0.22 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 40.9%. The firm is expected to report its next earnings report on Thursday, March 1st.

On average, analysts expect that Marvell Technology Group will report full year earnings of $1.19 per share for the current year, with EPS estimates ranging from $1.18 to $1.20. For the next year, analysts anticipate that the company will report earnings of $1.33 per share, with EPS estimates ranging from $1.22 to $1.48. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Marvell Technology Group.

Marvell Technology Group (NASDAQ:MRVL) last announced its quarterly earnings results on Tuesday, November 28th. The semiconductor company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.33 by $0.01. Marvell Technology Group had a return on equity of 11.93% and a net margin of 16.53%. The company had revenue of $616.00 million for the quarter, compared to the consensus estimate of $613.49 million. During the same quarter last year, the company posted $0.20 earnings per share. The company’s revenue for the quarter was down 5.8% compared to the same quarter last year.

Several equities analysts have commented on MRVL shares. Bank of America upgraded Marvell Technology Group from a “neutral” rating to a “buy” rating in a report on Monday, November 20th. Cowen reiterated an “outperform” rating and set a $29.00 price target (up previously from $21.00) on shares of Marvell Technology Group in a report on Monday, November 27th. Oppenheimer reiterated a “buy” rating and set a $23.00 price target on shares of Marvell Technology Group in a report on Monday, November 6th. ValuEngine upgraded Marvell Technology Group from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, Jefferies Group set a $19.00 price target on Marvell Technology Group and gave the company a “hold” rating in a report on Wednesday, October 18th. Eight analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. Marvell Technology Group has a consensus rating of “Buy” and a consensus price target of $23.92.

Marvell Technology Group (NASDAQ:MRVL) opened at $23.39 on Monday. Marvell Technology Group has a twelve month low of $14.58 and a twelve month high of $24.22. The company has a market capitalization of $11,490.00, a P/E ratio of 41.04, a price-to-earnings-growth ratio of 1.39 and a beta of 1.12.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Wednesday, December 27th were paid a $0.06 dividend. The ex-dividend date was Tuesday, December 26th. This represents a $0.24 annualized dividend and a dividend yield of 1.03%. Marvell Technology Group’s payout ratio is 42.11%.

In other Marvell Technology Group news, insider Marvell Semiconductor, Inc. Ca sold 1,512 shares of Marvell Technology Group stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $23.86, for a total transaction of $36,076.32. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael G. Strachan sold 20,000 shares of Marvell Technology Group stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $23.65, for a total transaction of $473,000.00. Following the sale, the director now owns 19,702 shares in the company, valued at approximately $465,952.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,324 shares of company stock worth $717,091. 6.80% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of MRVL. Boston Partners lifted its holdings in shares of Marvell Technology Group by 51.4% during the third quarter. Boston Partners now owns 12,205,587 shares of the semiconductor company’s stock valued at $218,480,000 after acquiring an additional 4,143,929 shares during the period. Epoch Investment Partners Inc. lifted its holdings in shares of Marvell Technology Group by 981.1% during the third quarter. Epoch Investment Partners Inc. now owns 3,983,148 shares of the semiconductor company’s stock valued at $71,298,000 after acquiring an additional 3,614,719 shares during the period. Allianz Asset Management GmbH lifted its holdings in shares of Marvell Technology Group by 38.8% during the third quarter. Allianz Asset Management GmbH now owns 4,760,965 shares of the semiconductor company’s stock valued at $85,221,000 after acquiring an additional 1,331,765 shares during the period. TD Asset Management Inc. lifted its holdings in shares of Marvell Technology Group by 88.3% during the third quarter. TD Asset Management Inc. now owns 2,022,923 shares of the semiconductor company’s stock valued at $36,210,000 after acquiring an additional 948,804 shares during the period. Finally, Contour Asset Management LLC lifted its holdings in shares of Marvell Technology Group by 11.5% during the second quarter. Contour Asset Management LLC now owns 9,192,978 shares of the semiconductor company’s stock valued at $151,868,000 after acquiring an additional 944,622 shares during the period. Hedge funds and other institutional investors own 78.82% 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.

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

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