Marvell Technology Group Ltd. (MRVL) Receives Average Rating of “Buy” from Analysts

Shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) have received a consensus rating of “Buy” from the twenty-four brokerages that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, four have given a hold rating and seventeen have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $24.96.

Several equities analysts recently commented on the company. BidaskClub downgraded Marvell Technology Group from a “hold” rating to a “sell” rating in a research report on Saturday, October 27th. UBS Group cut their target price on Marvell Technology Group from $30.00 to $25.00 and set an “in-line” rating for the company in a research report on Thursday, December 6th. TheStreet downgraded Marvell Technology Group from a “b” rating to a “c+” rating in a research report on Friday, October 26th. Zacks Investment Research reiterated a “buy” rating and issued a $19.00 price objective on shares of Marvell Technology Group in a research report on Wednesday, November 14th. Finally, Barclays cut their price objective on Marvell Technology Group from $25.00 to $23.00 and set an “overweight” rating for the company in a research report on Friday, November 30th.

In other news, Director Syed Ali sold 442,000 shares of Marvell Technology Group stock in a transaction on Friday, January 11th. The stock was sold at an average price of $17.14, for a total value of $7,575,880.00. Following the completion of the sale, the director now directly owns 4,950,515 shares of the company’s stock, valued at approximately $84,851,827.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael G. Strachan bought 10,000 shares of the stock in a transaction dated Thursday, December 20th. The stock was purchased at an average cost of $14.85 per share, with a total value of $148,500.00. Following the completion of the purchase, the director now directly owns 32,338 shares in the company, valued at approximately $480,219.30. The disclosure for this purchase can be found here. 0.10% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc grew its stake in shares of Marvell Technology Group by 45.0% during the third quarter. Vanguard Group Inc now owns 53,229,098 shares of the semiconductor company’s stock worth $1,027,321,000 after purchasing an additional 16,517,490 shares during the period. BlackRock Inc. grew its stake in shares of Marvell Technology Group by 34.5% during the third quarter. BlackRock Inc. now owns 32,541,818 shares of the semiconductor company’s stock worth $628,056,000 after purchasing an additional 8,349,897 shares during the period. Morgan Stanley grew its stake in shares of Marvell Technology Group by 837.0% during the third quarter. Morgan Stanley now owns 6,592,139 shares of the semiconductor company’s stock worth $127,230,000 after purchasing an additional 5,888,609 shares during the period. Credit Suisse AG grew its stake in shares of Marvell Technology Group by 850.5% during the third quarter. Credit Suisse AG now owns 5,980,384 shares of the semiconductor company’s stock worth $115,422,000 after purchasing an additional 5,351,224 shares during the period. Finally, American Century Companies Inc. acquired a new stake in shares of Marvell Technology Group during the third quarter worth $66,004,000. 93.25% of the stock is owned by institutional investors.

Marvell Technology Group stock opened at $19.61 on Friday. The company has a quick ratio of 1.74, a current ratio of 2.32 and a debt-to-equity ratio of 0.24. The company has a market cap of $12.69 billion, a P/E ratio of 18.85, a P/E/G ratio of 1.78 and a beta of 0.98. Marvell Technology Group has a one year low of $14.34 and a one year high of $25.18.

Marvell Technology Group (NASDAQ:MRVL) last posted its earnings results on Tuesday, December 4th. The semiconductor company reported $0.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.01. The business had revenue of $851.05 million during the quarter, compared to the consensus estimate of $844.07 million. Marvell Technology Group had a return on equity of 9.45% and a net margin of 4.76%. Marvell Technology Group’s revenue was up 38.1% on a year-over-year basis. During the same quarter last year, the company earned $0.34 EPS. On average, equities research analysts forecast that Marvell Technology Group will post 0.88 EPS for the current fiscal year.

Marvell Technology Group Company Profile

Marvell Technology Group Ltd. designs, develops, and markets analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a range of storage products, including hard disk drive (HDD) and solid-state drive controllers, as well as HDD components, such as HDD preamps components; and develops software-enabled silicon solutions comprising serial advanced technology attachment port multipliers, bridges, serial attached SCSI, and non-volatile memory express redundant array of independent disks controllers and converged storage processors for enterprises, data centers, and cloud computing businesses.

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Analyst Recommendations for Marvell Technology Group (NASDAQ:MRVL)

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