Somewhat Positive News Coverage Somewhat Unlikely to Impact Marvell Technology Group (MRVL) Stock Price
Media headlines about Marvell Technology Group (NASDAQ:MRVL) have trended somewhat positive on Sunday, according to Accern. The research group rates the sentiment of media coverage by monitoring more than twenty million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Marvell Technology Group earned a daily sentiment score of 0.24 on Accern’s scale. Accern also assigned news stories about the semiconductor company an impact score of 47.0170686413532 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
These are some of the media stories that may have effected Accern Sentiment’s scoring:
- Marvell Technology Group Ltd. (NASDAQ:MRVL) Growth Story in Full Force (nismagazine.com)
- Marvell Technology Group Ltd. (NASDAQ:MRVL) – Comprehensive Stock Analysis – Nasdaq Journal (press release) (nasdaqjournal.com)
- Alarming Stock-:- Marvell Technology Group Ltd. (NASDAQ:MRVL) – Market Breaking Point (press release) (journalfinance.net)
- BRIEF-Marvell Technology Group Says On Dec 19, Plaintiff, Defendants Entered Into Written Settlement Agreement For Payment By Co Of $72.5 Mln (reuters.com)
- Marvell Technology Group Ltd. (MRVL) Ex-Dividend Date Scheduled for… (nasdaq.com)
A number of research firms recently commented on MRVL. Benchmark raised Marvell Technology Group from a “hold” rating to a “buy” rating and increased their price objective for the company from $17.00 to $30.00 in a research note on Monday, November 20th. Citigroup raised Marvell Technology Group from a “sell” rating to a “neutral” rating and set a $22.00 price objective on the stock in a research note on Tuesday, November 7th. Oppenheimer reaffirmed a “buy” rating and set a $23.00 price objective on shares of Marvell Technology Group in a research note on Monday, November 6th. Barclays raised Marvell Technology Group from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $20.00 to $30.00 in a research note on Tuesday, November 21st. Finally, Bank of America raised Marvell Technology Group from a “neutral” rating to a “buy” rating in a research note on Monday, November 20th. Eight research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $23.92.
Marvell Technology Group (NASDAQ:MRVL) last announced its earnings results on Tuesday, November 28th. The semiconductor company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.33 by $0.01. Marvell Technology Group had a return on equity of 14.91% and a net margin of 24.23%. The business had revenue of $616.00 million for the quarter, compared to the consensus estimate of $613.49 million. During the same period last year, the business posted $0.20 EPS. The company’s revenue was down 5.8% on a year-over-year basis. research analysts forecast that Marvell Technology Group will post 1.01 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Wednesday, December 27th will be issued a dividend of $0.06 per share. The ex-dividend date is Tuesday, December 26th. This represents a $0.24 annualized dividend and a yield of 1.09%. Marvell Technology Group’s dividend payout ratio is presently 42.11%.
In other news, major shareholder Sehat Sutardja sold 93,895 shares of Marvell Technology Group stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $18.02, for a total value of $1,691,987.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Marvell Semiconductor, Inc. Ca sold 9,812 shares of Marvell Technology Group stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $21.20, for a total value of $208,014.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,148,004 shares of company stock valued at $224,837,926. Insiders own 6.80% 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.
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