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.
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.
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