Marvell Technology Group (NASDAQ:MRVL) Cut to “Hold” at BidaskClub

BidaskClub downgraded shares of Marvell Technology Group (NASDAQ:MRVL) from a buy rating to a hold rating in a research report released on Thursday, BidAskClub reports.

MRVL has been the topic of a number of other research reports. ValuEngine lowered shares of Marvell Technology Group from a strong-buy rating to a buy rating in a report on Thursday, August 1st. Zacks Investment Research lowered shares of Marvell Technology Group from a hold rating to a sell rating and set a $29.00 price objective on the stock. in a report on Thursday, July 25th. UBS Group boosted their price objective on shares of Marvell Technology Group from $22.00 to $29.00 and gave the stock a buy rating in a report on Wednesday, April 24th. Piper Jaffray Companies upped their target price on shares of Marvell Technology Group from $22.00 to $30.00 and gave the company an overweight rating in a research note on Friday, May 3rd. Finally, Citigroup upped their target price on shares of Marvell Technology Group from $27.00 to $30.00 and gave the company a buy rating in a research note on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $26.25.

Shares of MRVL stock opened at $23.78 on Thursday. Marvell Technology Group has a 12 month low of $14.34 and a 12 month high of $27.64. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.07 and a quick ratio of 1.67. The firm has a market capitalization of $16.40 billion, a P/E ratio of 37.01, a P/E/G ratio of 7.95 and a beta of 1.16. The company’s fifty day moving average price is $25.40 and its two-hundred day moving average price is $22.82.

Marvell Technology Group (NASDAQ:MRVL) last issued its quarterly earnings data on Thursday, May 30th. The semiconductor company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. Marvell Technology Group had a negative net margin of 12.18% and a positive return on equity of 5.88%. The firm had revenue of $662.00 million for the quarter, compared to analyst estimates of $651.07 million. During the same quarter in the previous year, the business posted $0.32 EPS. The firm’s revenue was up 9.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Marvell Technology Group will post 0.43 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, July 12th were paid a $0.06 dividend. The ex-dividend date was Thursday, July 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.01%. Marvell Technology Group’s dividend payout ratio (DPR) is presently 28.24%.

In other news, CAO Willem A. Meintjes sold 28,057 shares of the company’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $24.32, for a total value of $682,346.24. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Oleg Khaykin sold 10,000 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $23.89, for a total transaction of $238,900.00. Following the sale, the director now directly owns 33,204 shares of the company’s stock, valued at approximately $793,243.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 338,057 shares of company stock worth $8,659,346. Company insiders own 1.10% of the company’s stock.

Several large investors have recently made changes to their positions in MRVL. Capital Investment Advisory Services LLC bought a new stake in shares of Marvell Technology Group during the 2nd quarter valued at about $31,000. Patriot Financial Group Insurance Agency LLC grew its position in shares of Marvell Technology Group by 198.2% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,807 shares of the semiconductor company’s stock valued at $43,000 after buying an additional 1,201 shares during the last quarter. Signaturefd LLC grew its position in shares of Marvell Technology Group by 27.2% during the 2nd quarter. Signaturefd LLC now owns 1,859 shares of the semiconductor company’s stock valued at $44,000 after buying an additional 397 shares during the last quarter. Mizuho Securities Co. Ltd. bought a new stake in shares of Marvell Technology Group during the 2nd quarter valued at about $48,000. Finally, Griffin Asset Management Inc. bought a new stake in shares of Marvell Technology Group during the 2nd quarter valued at about $50,000. 95.98% of the stock is owned by institutional investors and hedge funds.

About Marvell Technology Group

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 preamplifiers; supports a variety of host system interfaces consisting of serial attached SCSI (SAS), serial advanced technology attachment (SATA), peripheral component interconnect express, and non-volatile memory express; and develops software-enabled silicon solutions comprising SATA port multipliers, bridges, SATA, SAS, and non-volatile memory express redundant array of independent disks controllers and converged storage processors for enterprises, data centers, and cloud computing businesses.

Featured Story: Buy-Side Analysts

Analyst Recommendations for Marvell Technology Group (NASDAQ:MRVL)

Receive News & Ratings for Marvell Technology Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marvell Technology Group and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


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