Shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) have received an average recommendation of “Buy” from the thirty analysts that are covering the stock, MarketBeat reports. Eight investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $23.92.
A number of equities research analysts have recently issued reports on the stock. ValuEngine raised shares of Marvell Technology Group from a “hold” rating to a “buy” rating in a report on Friday. Zacks Investment Research raised shares of Marvell Technology Group from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a report on Tuesday, November 21st. Craig Hallum reaffirmed a “buy” rating on shares of Marvell Technology Group in a report on Tuesday, November 21st. Needham & Company LLC upped their target price on shares of Marvell Technology Group from $25.00 to $27.00 and gave the company a “buy” rating in a report on Wednesday, November 29th. Finally, Loop Capital reaffirmed a “buy” rating and issued a $28.00 target price on shares of Marvell Technology Group in a report on Wednesday, November 29th.
In other Marvell Technology Group news, Director Michael G. Strachan sold 20,000 shares of the stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $23.65, for a total transaction of $473,000.00. Following the transaction, the director now owns 19,702 shares in the company, valued at approximately $465,952.30. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Marvell Semiconductor, Inc. Ca sold 9,812 shares of the stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $21.20, for a total transaction of $208,014.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,324 shares of company stock worth $717,091. 6.80% of the stock is owned by company insiders.
Shares of Marvell Technology Group (NASDAQ MRVL) traded up $0.14 during trading hours on Tuesday, reaching $21.49. 7,010,000 shares of the company’s stock traded hands, compared to its average volume of 7,580,000. Marvell Technology Group has a 52-week low of $14.58 and a 52-week high of $24.22. The company has a market cap of $10,560.00, a PE ratio of 37.70, a PEG ratio of 1.18 and a beta of 0.95.
Marvell Technology Group (NASDAQ:MRVL) last issued its earnings results on Tuesday, November 28th. The semiconductor company reported $0.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.01. The company had revenue of $616.00 million for the quarter, compared to analysts’ expectations of $613.49 million. Marvell Technology Group had a net margin of 16.53% and a return on equity of 11.93%. Marvell Technology Group’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.20 EPS. research analysts expect that Marvell Technology Group will post 1.01 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Wednesday, December 27th were paid a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, December 26th. This represents a $0.24 dividend on an annualized basis and a yield of 1.12%. Marvell Technology Group’s dividend payout ratio (DPR) is currently 42.11%.
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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