Marvell Technology Group Ltd. (MRVL) Receives Consensus Rating of “Buy” from Analysts

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.

Several large investors have recently made changes to their positions in the business. Shaker Investments LLC OH acquired a new position in shares of Marvell Technology Group during the 4th quarter worth approximately $494,000. Public Employees Retirement Association of Colorado grew its position in shares of Marvell Technology Group by 3.0% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 82,258 shares of the semiconductor company’s stock worth $1,766,000 after purchasing an additional 2,388 shares in the last quarter. US Bancorp DE grew its position in shares of Marvell Technology Group by 0.6% during the 4th quarter. US Bancorp DE now owns 436,306 shares of the semiconductor company’s stock worth $9,368,000 after purchasing an additional 2,674 shares in the last quarter. Aperio Group LLC grew its position in shares of Marvell Technology Group by 6.9% during the 4th quarter. Aperio Group LLC now owns 65,349 shares of the semiconductor company’s stock worth $1,403,000 after purchasing an additional 4,244 shares in the last quarter. Finally, Comerica Bank grew its position in shares of Marvell Technology Group by 5.6% during the 4th quarter. Comerica Bank now owns 425,432 shares of the semiconductor company’s stock worth $9,908,000 after purchasing an additional 22,409 shares in the last quarter. Hedge funds and other institutional investors own 78.92% of the company’s stock.

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%.

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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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