Shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) have received an average rating of “Buy” from the twenty-eight ratings firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, twenty-one have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $32.61.

Several research analysts have weighed in on MRVL shares. Oppenheimer started coverage on Marvell Technology Group in a research report on Wednesday, June 10th. They issued a “buy” rating and a $35.00 target price on the stock. Craig Hallum dropped their target price on Marvell Technology Group from $37.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, May 29th. Susquehanna Bancshares reaffirmed a “buy” rating and issued a $36.00 target price on shares of Marvell Technology Group in a research report on Friday, May 29th. Morgan Stanley increased their price objective on Marvell Technology Group from $33.50 to $36.00 and gave the company an “equal weight” rating in a report on Tuesday, June 16th. Finally, Benchmark increased their price objective on Marvell Technology Group from $30.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, May 27th.

Shares of MRVL traded up $0.65 during trading on Tuesday, reaching $35.02. The company’s stock had a trading volume of 6,105,834 shares, compared to its average volume of 7,976,684. Marvell Technology Group has a twelve month low of $16.45 and a twelve month high of $36.92. The company has a quick ratio of 1.75, a current ratio of 2.14 and a debt-to-equity ratio of 0.17. The company has a market cap of $23.30 billion, a price-to-earnings ratio of 15.63, a P/E/G ratio of 12.31 and a beta of 1.08. The company has a fifty day moving average of $32.59 and a two-hundred day moving average of $26.71.

Marvell Technology Group (NASDAQ:MRVL) last issued its quarterly earnings data on Thursday, May 28th. The semiconductor company reported $0.18 EPS for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.04. Marvell Technology Group had a return on equity of 2.82% and a net margin of 55.66%. The firm had revenue of $694.00 million during the quarter, compared to the consensus estimate of $680.19 million. During the same period in the prior year, the business earned $0.16 EPS. The firm’s revenue was up 4.8% on a year-over-year basis. As a group, equities analysts forecast that Marvell Technology Group will post 0.57 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 29th. Investors of record on Monday, July 13th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, July 10th. This represents a $0.24 annualized dividend and a yield of 0.69%. Marvell Technology Group’s payout ratio is 75.00%.

In other Marvell Technology Group news, COO Andrew Micallef sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $34.65, for a total value of $346,500.00. Following the completion of the sale, the chief operating officer now owns 100,621 shares in the company, valued at approximately $3,486,517.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Dean E. Jr. Jarnac sold 6,857 shares of the firm’s stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $25.34, for a total value of $173,756.38. Following the completion of the sale, the senior vice president now owns 16,859 shares of the company’s stock, valued at approximately $427,207.06. The disclosure for this sale can be found here. Insiders sold a total of 116,730 shares of company stock valued at $3,549,849 in the last quarter. Corporate insiders own 0.29% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. BlackRock Inc. lifted its position in shares of Marvell Technology Group by 5.1% during the 1st quarter. BlackRock Inc. now owns 44,392,337 shares of the semiconductor company’s stock worth $1,004,598,000 after buying an additional 2,143,302 shares during the period. State Street Corp lifted its position in shares of Marvell Technology Group by 2.5% during the 1st quarter. State Street Corp now owns 14,534,086 shares of the semiconductor company’s stock worth $328,906,000 after buying an additional 355,517 shares during the period. Standard Life Aberdeen plc lifted its position in shares of Marvell Technology Group by 1.3% during the 4th quarter. Standard Life Aberdeen plc now owns 9,116,445 shares of the semiconductor company’s stock worth $242,133,000 after buying an additional 115,119 shares during the period. Nuveen Asset Management LLC lifted its position in shares of Marvell Technology Group by 32.7% during the 1st quarter. Nuveen Asset Management LLC now owns 9,032,472 shares of the semiconductor company’s stock worth $204,404,000 after buying an additional 2,227,948 shares during the period. Finally, Janus Henderson Group PLC lifted its position in shares of Marvell Technology Group by 64.9% during the 4th quarter. Janus Henderson Group PLC now owns 8,462,573 shares of the semiconductor company’s stock worth $224,748,000 after buying an additional 3,330,794 shares during the period. Institutional investors own 91.18% of the company’s stock.

Marvell Technology Group Company Profile

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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Analyst Recommendations for Marvell Technology Group (NASDAQ:MRVL)

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