Marvell Technology Group Ltd. (MRVL) to Issue Quarterly Dividend of $0.06 on January 16th

Marvell Technology Group Ltd. (NASDAQ:MRVL) declared a quarterly dividend on Friday, December 8th, RTT News reports. Shareholders of record on Wednesday, December 27th will be paid a dividend of 0.06 per share by the semiconductor company on Tuesday, January 16th. This represents a $0.24 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Tuesday, December 26th.

Marvell Technology Group (NASDAQ:MRVL) opened at $22.01 on Monday. Marvell Technology Group has a 1-year low of $13.83 and a 1-year high of $24.22. The company has a market cap of $10,790.00, a price-to-earnings ratio of 38.61, a price-to-earnings-growth ratio of 1.33 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 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. Marvell Technology Group had a net margin of 24.23% and a return on equity of 14.91%. The firm had revenue of $616.00 million for the quarter, compared to analyst estimates of $613.49 million. During the same quarter in the previous year, the business posted $0.20 EPS. The firm’s revenue was down 5.8% compared to the same quarter last year. research analysts expect that Marvell Technology Group will post 1.01 earnings per share for the current year.

Several research firms have recently weighed in on MRVL. B. Riley reissued a “buy” rating and issued a $23.00 target price on shares of Marvell Technology Group in a research report on Friday, September 1st. BMO Capital Markets boosted their target price on shares of Marvell Technology Group to $25.00 and gave the stock a “market perform” rating in a research report on Monday, November 27th. Jefferies Group set a $19.00 target price on shares of Marvell Technology Group and gave the stock a “hold” rating in a research report on Wednesday, October 18th. Bank of America raised shares of Marvell Technology Group from a “neutral” rating to a “buy” rating in a research report on Monday, November 20th. Finally, Needham & Company LLC boosted their target price on shares of Marvell Technology Group from $25.00 to $27.00 and gave the stock a “buy” rating in a research report on Wednesday, November 29th. Eight investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $23.92.

In other news, insider Marvell Semiconductor, Inc. Ca sold 9,812 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $21.20, for a total value of $208,014.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Sehat Sutardja sold 93,895 shares of the company’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $18.02, for a total transaction of $1,691,987.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,148,004 shares of company stock valued at $224,837,926. 6.80% of the stock is owned by insiders.

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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.

Dividend History for Marvell Technology Group (NASDAQ:MRVL)

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