Marvell Technology Group Ltd. (NASDAQ:MRVL) has been assigned an average rating of “Buy” from the twenty-nine brokerages that are covering the stock, MarketBeat Ratings reports. Eight research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $23.92.
Several analysts have issued reports on MRVL shares. Credit Suisse Group reaffirmed a “buy” rating on shares of Marvell Technology Group in a research report on Wednesday, August 23rd. Jefferies Group reissued a “hold” rating and set a $18.50 price target (down previously from $19.00) on shares of Marvell Technology Group in a research report on Thursday, August 24th. Needham & Company LLC reissued a “buy” rating and set a $21.00 price target on shares of Marvell Technology Group in a research report on Thursday, August 24th. KeyCorp raised their price target on shares of Marvell Technology Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Friday, August 25th. Finally, Northland Securities reissued a “buy” rating and set a $20.00 price target on shares of Marvell Technology Group in a research report on Friday, August 25th.
In related news, insider Marvell Semiconductor, Inc. Ca sold 9,812 shares of Marvell Technology Group stock in a transaction dated 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 legal filing with the SEC, which can be accessed through this link. Also, major shareholder Sehat Sutardja sold 1,266,498 shares of Marvell Technology Group stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $18.55, for a total transaction of $23,493,537.90. The disclosure for this sale can be found here. Insiders sold 12,148,004 shares of company stock worth $224,837,926 over the last quarter. 6.80% of the stock is currently owned by company insiders.
Shares of Marvell Technology Group (MRVL) traded down $0.26 during trading hours on Monday, reaching $22.05. 5,500,745 shares of the company’s stock traded hands, compared to its average volume of 6,809,583. Marvell Technology Group has a one year low of $13.83 and a one year high of $24.22. The firm has a market capitalization of $10,830.00, a P/E ratio of 24.05, a price-to-earnings-growth ratio of 1.35 and a beta of 1.13.
Marvell Technology Group (NASDAQ:MRVL) last issued its quarterly earnings data on Tuesday, November 28th. The semiconductor company reported $0.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 company had revenue of $616.00 million during the quarter, compared to the consensus estimate of $613.49 million. During the same quarter last year, the company earned $0.20 earnings per share. Marvell Technology Group’s revenue for the quarter was down 5.8% on a year-over-year basis. equities analysts predict that Marvell Technology Group will post 1.01 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Wednesday, December 27th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend is Tuesday, December 26th. 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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