Oppenheimer Holdings, Inc. reissued their buy rating on shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) in a research note issued to investors on Monday. They currently have a $23.00 price target on the semiconductor company’s stock.

Other equities research analysts also recently issued research reports about the stock. B. Riley restated a buy rating and issued a $23.00 target price on shares of Marvell Technology Group in a research note on Monday, August 21st. Northland Securities restated a buy rating and issued a $20.00 target price on shares of Marvell Technology Group in a research note on Friday, August 25th. Cowen and Company restated a buy rating and issued a $21.00 target price on shares of Marvell Technology Group in a research note on Monday, August 21st. BidaskClub upgraded shares of Marvell Technology Group from a strong sell rating to a sell rating in a research note on Wednesday, August 16th. Finally, Credit Suisse Group reaffirmed a buy rating on shares of Marvell Technology Group in a report on Wednesday, August 23rd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of Buy and an average target price of $19.29.

Shares of Marvell Technology Group (NASDAQ MRVL) opened at $20.15 on Monday. Marvell Technology Group has a 52 week low of $12.30 and a 52 week high of $21.08. The company has a market cap of $9,980.45, a price-to-earnings ratio of 25.81, a PEG ratio of 1.38 and a beta of 1.05.

Marvell Technology Group (NASDAQ:MRVL) last issued its earnings results on Thursday, August 24th. The semiconductor company reported $0.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.03). Marvell Technology Group had a net margin of 10.97% and a return on equity of 9.99%. The firm had revenue of $604.75 million during the quarter, compared to analyst estimates of $600.76 million. During the same quarter in the prior year, the firm posted $0.18 EPS. The firm’s revenue for the quarter was up 16.4% on a year-over-year basis. equities research analysts forecast that Marvell Technology Group will post 0.97 earnings per share for the current year.

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The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 26th. Investors of record on Tuesday, October 10th were given a $0.06 dividend. The ex-dividend date was Friday, October 6th. This represents a $0.24 annualized dividend and a dividend yield of 1.19%. Marvell Technology Group’s dividend payout ratio is presently 47.06%.

In related news, major shareholder Sehat Sutardja sold 537,235 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $17.57, for a total value of $9,439,218.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 17,558,035 shares of company stock valued at $320,838,284 over the last quarter. 6.80% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. D.A. Davidson & CO. grew its position in shares of Marvell Technology Group by 10.2% in the 2nd quarter. D.A. Davidson & CO. now owns 6,461 shares of the semiconductor company’s stock valued at $106,000 after purchasing an additional 600 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of Marvell Technology Group in the 3rd quarter valued at approximately $106,000. Massey Quick Simon & CO. LLC acquired a new position in Marvell Technology Group during the 3rd quarter worth approximately $124,000. Creative Planning boosted its position in Marvell Technology Group by 39.8% during the 2nd quarter. Creative Planning now owns 10,008 shares of the semiconductor company’s stock worth $165,000 after acquiring an additional 2,850 shares during the last quarter. Finally, First Quadrant L P CA acquired a new position in Marvell Technology Group during the 3rd quarter worth approximately $211,000. Institutional investors and hedge funds own 76.69% of the company’s stock.

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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