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

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.

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Marvell Technology Group by 0.9% in the second quarter. Vanguard Group Inc. now owns 32,190,297 shares of the semiconductor company’s stock valued at $531,785,000 after purchasing an additional 290,339 shares during the period. Boston Partners raised its position in Marvell Technology Group by 51.4% in the third quarter. Boston Partners now owns 12,205,587 shares of the semiconductor company’s stock valued at $218,480,000 after purchasing an additional 4,143,929 shares during the period. JPMorgan Chase & Co. raised its position in Marvell Technology Group by 9.5% in the third quarter. JPMorgan Chase & Co. now owns 9,581,295 shares of the semiconductor company’s stock valued at $172,175,000 after purchasing an additional 830,797 shares during the period. Contour Asset Management LLC raised its position in Marvell Technology Group by 11.5% in the second quarter. Contour Asset Management LLC now owns 9,192,978 shares of the semiconductor company’s stock valued at $151,868,000 after purchasing an additional 944,622 shares during the period. Finally, UBS Asset Management Americas Inc. raised its position in Marvell Technology Group by 2.3% in the second quarter. UBS Asset Management Americas Inc. now owns 8,901,332 shares of the semiconductor company’s stock valued at $147,050,000 after purchasing an additional 195,985 shares during the period. Institutional investors own 78.70% of the company’s stock.

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%.

ILLEGAL ACTIVITY NOTICE: “Marvell Technology Group Ltd. (MRVL) Receives Consensus Recommendation of “Buy” from Analysts” was reported by Community Financial News and is the sole property of of Community Financial News. If you are viewing this piece on another domain, it was copied illegally and republished in violation of United States & international copyright & trademark law. The correct version of this piece can be accessed at https://www.com-unik.info/2018/01/12/marvell-technology-group-ltd-mrvl-receives-consensus-recommendation-of-buy-from-analysts.html.

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.

Analyst Recommendations for Marvell Technology Group (NASDAQ:MRVL)

What are top analysts saying about Marvell Technology Group? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Marvell Technology Group and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit