Brokerages forecast that Marvell Technology Group Ltd. (NASDAQ:MRVL) will post $0.31 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have issued estimates for Marvell Technology Group’s earnings, with the highest EPS estimate coming in at $0.32 and the lowest estimate coming in at $0.31. Marvell Technology Group reported earnings of $0.22 per share during 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 quarterly earnings report 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 year, analysts anticipate that the firm will post earnings of $1.33 per share, with EPS estimates ranging from $1.22 to $1.48. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Marvell Technology Group.
Marvell Technology Group (NASDAQ:MRVL) last released its earnings results on Tuesday, November 28th. The semiconductor company reported $0.34 earnings per share for the quarter, topping the Zacks’ 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 business had revenue of $616.00 million for the quarter, compared to analyst estimates of $613.49 million. During the same period last year, the company posted $0.20 EPS. The business’s revenue was down 5.8% on a year-over-year basis.
Marvell Technology Group (MRVL) opened at $22.68 on Thursday. The firm has a market cap of $11,247.24, a P/E ratio of 29.45, a price-to-earnings-growth ratio of 1.19 and a beta of 0.95. Marvell Technology Group has a 12 month low of $14.58 and a 12 month high of $24.22.
In related news, insider Marvell Semiconductor, Inc. Ca sold 1,512 shares of Marvell Technology Group stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $23.86, for a total value of $36,076.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael G. Strachan sold 20,000 shares of Marvell Technology Group stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $23.65, for a total transaction of $473,000.00. Following the completion of the sale, the director now owns 19,702 shares of the company’s stock, valued at approximately $465,952.30. The disclosure for this sale can be found here. Insiders sold a total of 31,324 shares of company stock valued at $717,091 in the last quarter. 6.80% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of the business. BlackRock Inc. grew its stake in shares of 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 in the last quarter. Boston Partners grew its stake in shares of Marvell Technology Group by 3.4% in the fourth quarter. Boston Partners now owns 12,619,465 shares of the semiconductor company’s stock worth $270,940,000 after acquiring an additional 413,878 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of 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 worth $172,175,000 after acquiring an additional 830,797 shares in the last quarter. UBS Asset Management Americas Inc. grew its stake in shares of Marvell Technology Group by 12.5% in 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 acquiring an additional 750,734 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Marvell Technology Group by 11.4% in the fourth quarter. Renaissance Technologies LLC now owns 6,605,844 shares of the semiconductor company’s stock worth $141,827,000 after acquiring an additional 673,369 shares in the last quarter. Institutional investors and hedge funds own 77.72% of the company’s stock.
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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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