Stifel Nicolaus upgraded shares of Marvell Technology Group (NASDAQ:MRVL) from a hold rating to a buy rating in a report released on Friday morning, MarketBeat.com reports. They currently have $21.00 price target on the semiconductor company’s stock.

MRVL has been the topic of several other research reports. UBS Group lowered their price objective on shares of Marvell Technology Group from $38.00 to $33.00 and set a buy rating on the stock in a research note on Friday, July 6th. Rosenblatt Securities reaffirmed a buy rating and issued a $27.00 price objective on shares of Marvell Technology Group in a research note on Sunday, September 9th. Goldman Sachs Group started coverage on shares of Marvell Technology Group in a research note on Tuesday, September 18th. They issued a buy rating and a $23.00 price objective on the stock. Citigroup lowered their price objective on shares of Marvell Technology Group from $23.00 to $20.00 and set a neutral rating on the stock in a research note on Friday, September 14th. Finally, BidaskClub raised shares of Marvell Technology Group from a strong sell rating to a sell rating in a research note on Saturday, September 29th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-two have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $25.77.

Shares of MRVL traded up $0.29 during mid-day trading on Friday, hitting $18.01. The company’s stock had a trading volume of 12,997,398 shares, compared to its average volume of 9,366,493. The stock has a market capitalization of $12.71 billion, a P/E ratio of 17.32, a P/E/G ratio of 2.31 and a beta of 0.96. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.54 and a quick ratio of 1.76. Marvell Technology Group has a fifty-two week low of $17.18 and a fifty-two week high of $25.18.

Marvell Technology Group (NASDAQ:MRVL) last announced its quarterly earnings data on Thursday, September 6th. The semiconductor company reported $0.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.01). The business had revenue of $665.31 million during the quarter, compared to analyst estimates of $685.00 million. Marvell Technology Group had a return on equity of 10.70% and a net margin of 15.36%. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.30 EPS. As a group, equities research analysts forecast that Marvell Technology Group will post 0.86 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 23rd. Stockholders of record on Tuesday, October 2nd will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend is Monday, October 1st. Marvell Technology Group’s dividend payout ratio (DPR) is currently 23.08%.

In other news, CEO Matthew J. Murphy sold 10,000 shares of Marvell Technology Group stock in a transaction that occurred on Friday, August 3rd. The shares were sold at an average price of $21.33, for a total value of $213,300.00. Following the transaction, the chief executive officer now directly owns 1,755 shares of the company’s stock, valued at $37,434.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.10% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. FMR LLC boosted its holdings in shares of Marvell Technology Group by 5.1% during the second quarter. FMR LLC now owns 55,789,566 shares of the semiconductor company’s stock worth $1,196,128,000 after purchasing an additional 2,685,377 shares during the period. BlackRock Inc. boosted its holdings in shares of Marvell Technology Group by 1.5% during the second quarter. BlackRock Inc. now owns 24,191,921 shares of the semiconductor company’s stock worth $518,672,000 after purchasing an additional 358,921 shares during the period. Swiss National Bank boosted its holdings in shares of Marvell Technology Group by 17.0% during the second quarter. Swiss National Bank now owns 1,474,872 shares of the semiconductor company’s stock worth $31,621,000 after purchasing an additional 214,300 shares during the period. Stevens Capital Management LP acquired a new stake in shares of Marvell Technology Group during the second quarter worth approximately $1,608,000. Finally, Twin Tree Management LP boosted its holdings in shares of Marvell Technology Group by 155.5% during the second quarter. Twin Tree Management LP now owns 56,461 shares of the semiconductor company’s stock worth $1,211,000 after purchasing an additional 34,361 shares during the period. Institutional investors and hedge funds own 81.56% of the company’s stock.

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 HDD components, such as HDD preamps components; and develops software-enabled silicon solutions comprising serial advanced technology attachment port multipliers, bridges, serial attached SCSI, 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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Analyst Recommendations for Marvell Technology Group (NASDAQ:MRVL)

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