Shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) have earned a consensus rating of “Buy” from the thirty brokerages that are presently covering the company, MarketBeat.com reports. Eight research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to 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 analysts have recently issued reports on the company. BMO Capital Markets lifted their price target on Marvell Technology Group to $25.00 and gave the stock a “market perform” rating in a research note on Monday, November 27th. ValuEngine raised Marvell Technology Group from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. B. Riley reaffirmed a “buy” rating and issued a $29.00 price target on shares of Marvell Technology Group in a research note on Wednesday, November 29th. Bank of America raised Marvell Technology Group from a “neutral” rating to a “buy” rating in a research note on Monday, November 20th. Finally, Jefferies Group set a $19.00 price target on Marvell Technology Group and gave the stock a “hold” rating in a research note on Wednesday, October 18th.
In other Marvell Technology Group news, major shareholder Sehat Sutardja sold 1,266,498 shares of Marvell Technology Group stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $18.55, for a total value of $23,493,537.90. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Marvell Semiconductor, Inc. Ca sold 9,812 shares of Marvell Technology Group stock in a transaction on Friday, December 1st. The shares were sold at an average price of $21.20, for a total value of $208,014.40. The disclosure for this sale can be found here. Insiders have sold 1,813,418 shares of company stock worth $33,627,308 in the last three months. 6.80% of the stock is currently owned by corporate insiders.
Shares of Marvell Technology Group (NASDAQ:MRVL) traded up $0.01 on Friday, reaching $23.15. The company’s stock had a trading volume of 5,198,500 shares, compared to its average volume of 7,427,588. 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 $11,740.00, a price-to-earnings ratio of 40.61, a P/E/G ratio of 1.39 and a beta of 1.12.
Marvell Technology Group (NASDAQ:MRVL) last issued its quarterly earnings results on Tuesday, November 28th. The semiconductor company reported $0.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.01. The firm had revenue of $616.00 million for the quarter, compared to analyst estimates of $613.49 million. Marvell Technology Group had a return on equity of 11.93% and a net margin of 16.53%. The business’s revenue was down 5.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.20 earnings per share. research analysts predict that Marvell Technology Group will post 1.01 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Wednesday, December 27th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend is Tuesday, December 26th. Marvell Technology Group’s dividend payout ratio (DPR) is currently 42.11%.
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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