Marvell Technology Group Ltd. (NASDAQ:MRVL)‘s stock had its “buy” rating restated by equities research analysts at Cowen and Company in a research report issued to clients and investors on Monday. They currently have a $21.00 price target on the semiconductor company’s stock. Cowen and Company’s target price would indicate a potential upside of 23.17% from the company’s previous close.

A number of other research analysts also recently weighed in on the stock. BidaskClub upgraded shares of Marvell Technology Group from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 16th. Zacks Investment Research downgraded shares of Marvell Technology Group from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. MKM Partners reiterated a “buy” rating and issued a $20.00 price objective on shares of Marvell Technology Group in a research report on Tuesday, July 4th. B. Riley reiterated a “buy” rating and issued a $23.00 price objective on shares of Marvell Technology Group in a research report on Wednesday, June 28th. Finally, Pacific Crest upgraded shares of Marvell Technology Group from a “sector weight” rating to an “overweight” rating and set a $22.00 price objective for the company in a research report on Tuesday, June 20th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Marvell Technology Group has an average rating of “Buy” and an average price target of $18.97.

Shares of Marvell Technology Group (NASDAQ:MRVL) traded up 7.50% during mid-day trading on Monday, reaching $17.05. The company had a trading volume of 14,618,783 shares. The company has a 50 day moving average price of $15.92 and a 200 day moving average price of $16.03. The company has a market capitalization of $8.54 billion, a price-to-earnings ratio of 33.04 and a beta of 1.10. Marvell Technology Group has a one year low of $12.03 and a one year high of $18.18. Marvell Technology Group also was the target of unusually large options trading activity on Thursday. Stock investors acquired 10,346 call options on the company. This represents an increase of approximately 451% compared to the typical volume of 1,878 call options.

Marvell Technology Group (NASDAQ:MRVL) last issued its quarterly earnings data on Thursday, August 24th. The semiconductor company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by $0.03. The firm had revenue of $604.75 million during the quarter, compared to analyst estimates of $600.76 million. Marvell Technology Group had a return on equity of 9.94% and a net margin of 10.97%. The company’s revenue was up 16.4% on a year-over-year basis. During the same quarter last year, the company posted $0.18 EPS. On average, analysts anticipate that Marvell Technology Group will post $1.10 EPS for the current year.

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Several hedge funds have recently bought and sold shares of MRVL. Profund Advisors LLC boosted its stake in Marvell Technology Group by 19.1% in the first quarter. Profund Advisors LLC now owns 80,048 shares of the semiconductor company’s stock valued at $1,222,000 after buying an additional 12,821 shares during the period. First Trust Advisors LP boosted its stake in Marvell Technology Group by 136.8% in the first quarter. First Trust Advisors LP now owns 364,273 shares of the semiconductor company’s stock valued at $5,559,000 after buying an additional 210,421 shares during the period. Dynamic Technology Lab Private Ltd boosted its stake in Marvell Technology Group by 18.2% in the first quarter. Dynamic Technology Lab Private Ltd now owns 20,203 shares of the semiconductor company’s stock valued at $309,000 after buying an additional 3,106 shares during the period. Jennison Associates LLC purchased a new stake in Marvell Technology Group during the second quarter valued at $36,663,000. Finally, Dai Ichi Life Insurance Company Ltd boosted its stake in Marvell Technology Group by 19.0% in the first quarter. Dai Ichi Life Insurance Company Ltd now owns 471,404 shares of the semiconductor company’s stock valued at $7,194,000 after buying an additional 75,360 shares during the period. 75.80% of the stock is owned by institutional investors and hedge funds.

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)

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