Wall Street analysts forecast that Marvell Technology Group Ltd. (NASDAQ:MRVL) will report earnings per share (EPS) of $0.31 for the current fiscal quarter, according to Zacks. Nine analysts have made estimates for Marvell Technology Group’s earnings, with estimates ranging from $0.31 to $0.32. Marvell Technology Group posted earnings per share of $0.22 in the same quarter last year, which indicates a positive year-over-year growth rate of 40.9%. The business is expected to report its next earnings results after the market closes on Thursday, March 8th.
On average, analysts expect that Marvell Technology Group will report full year earnings of $1.19 per share for the current fiscal year, with EPS estimates ranging from $1.18 to $1.20. For the next financial year, analysts expect that the company will report earnings of $1.33 per share, with EPS estimates ranging from $1.22 to $1.48. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for Marvell Technology Group.
Marvell Technology Group (NASDAQ:MRVL) last posted its quarterly earnings data on Tuesday, November 28th. The semiconductor company reported $0.34 EPS for the quarter, topping the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $613.49 million. During the same period in the previous year, the business earned $0.20 EPS. Marvell Technology Group’s quarterly revenue was down 5.8% on a year-over-year basis.
In related news, insider Marvell Semiconductor, Inc. Ca sold 1,512 shares of the stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $23.86, for a total value of $36,076.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael G. Strachan sold 20,000 shares of the stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $23.65, for a total value of $473,000.00. Following the completion of the transaction, the director now owns 19,702 shares of the company’s stock, valued at $465,952.30. The disclosure for this sale can be found here. Insiders sold 31,324 shares of company stock valued at $717,091 over the last quarter. 6.80% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. grew its position in Marvell Technology Group by 3.2% in the fourth quarter. BlackRock Inc. now owns 23,774,459 shares of the semiconductor company’s stock worth $510,438,000 after acquiring an additional 728,318 shares during the period. Boston Partners lifted its stake in Marvell Technology Group by 3.4% during the fourth quarter. Boston Partners now owns 12,619,465 shares of the semiconductor company’s stock worth $270,940,000 after purchasing an additional 413,878 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Marvell Technology Group by 9.5% during the third quarter. JPMorgan Chase & Co. now owns 9,581,295 shares of the semiconductor company’s stock worth $172,175,000 after purchasing an additional 830,797 shares in the last quarter. UBS Asset Management Americas Inc. lifted its stake in Marvell Technology Group by 12.5% during the fourth quarter. UBS Asset Management Americas Inc. now owns 6,755,914 shares of the semiconductor company’s stock worth $145,049,000 after purchasing an additional 750,734 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Marvell Technology Group by 11.4% during the fourth quarter. Renaissance Technologies LLC now owns 6,605,844 shares of the semiconductor company’s stock worth $141,827,000 after purchasing an additional 673,369 shares in the last quarter. Institutional investors own 77.72% of the company’s stock.
Shares of Marvell Technology Group (NASDAQ:MRVL) opened at $22.26 on Thursday. Marvell Technology Group has a 52 week low of $14.58 and a 52 week high of $24.22. The company has a market capitalization of $10,930.00, a P/E ratio of 39.05, a price-to-earnings-growth ratio of 1.15 and a beta of 0.95.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Wednesday, December 27th were given a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, December 26th. This represents a $0.24 annualized dividend and a yield of 1.08%. Marvell Technology Group’s payout ratio is 42.11%.
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About Marvell Technology Group
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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