Wall Street analysts expect Marvell Technology Group Ltd. (NASDAQ:MRVL) to report $0.16 earnings per share (EPS) for the current quarter, according to Zacks. Eight analysts have issued estimates for Marvell Technology Group’s earnings. The highest EPS estimate is $0.17 and the lowest is $0.16. Marvell Technology Group reported earnings of ($0.04) per share in the same quarter last year, which indicates a positive year over year growth rate of 500%. The business is scheduled to report its next quarterly earnings report on Wednesday, July 26th.
On average, analysts expect that Marvell Technology Group will report full-year earnings of $0.83 per share for the current financial year, with EPS estimates ranging from $0.71 to $0.92. For the next financial year, analysts expect that the business will post earnings of $0.98 per share. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Marvell Technology Group.
Marvell Technology Group (NASDAQ:MRVL) last issued its earnings results on Thursday, March 2nd. The semiconductor company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.03. The business had revenue of $571.40 million for the quarter, compared to analyst estimates of $567.68 million. Marvell Technology Group had a return on equity of 3.28% and a net margin of 4.33%. The business’s quarterly revenue was down 5.2% on a year-over-year basis. During the same period last year, the company posted $0.11 EPS.
Several research analysts have issued reports on MRVL shares. B. Riley reaffirmed a “buy” rating and issued a $19.00 price target on shares of Marvell Technology Group in a report on Monday, January 9th. Zacks Investment Research cut Marvell Technology Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 18th. Vetr cut Marvell Technology Group from a “hold” rating to a “sell” rating and set a $13.50 price target on the stock. in a report on Thursday, January 19th. Cowen and Company upped their price target on Marvell Technology Group from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, February 6th. Finally, Goldman Sachs Group Inc raised Marvell Technology Group from a “sell” rating to a “neutral” rating and upped their price target for the company from $12.00 to $16.00 in a report on Wednesday, March 1st. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Marvell Technology Group has a consensus rating of “Hold” and a consensus price target of $16.90.
Large investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC raised its stake in Marvell Technology Group by 7.1% in the fourth quarter. AQR Capital Management LLC now owns 8,575,346 shares of the semiconductor company’s stock valued at $118,940,000 after buying an additional 568,496 shares during the last quarter. Norges Bank acquired a new stake in Marvell Technology Group during the fourth quarter valued at about $115,619,000. BlackRock Fund Advisors raised its stake in Marvell Technology Group by 3.7% in the third quarter. BlackRock Fund Advisors now owns 5,784,328 shares of the semiconductor company’s stock valued at $76,758,000 after buying an additional 205,575 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in Marvell Technology Group by 35.7% in the fourth quarter. UBS Asset Management Americas Inc. now owns 5,092,187 shares of the semiconductor company’s stock valued at $70,630,000 after buying an additional 1,339,243 shares during the last quarter. Finally, Argent Capital Management LLC acquired a new stake in Marvell Technology Group during the third quarter valued at about $60,316,000. 73.41% of the stock is owned by institutional investors and hedge funds.
Shares of Marvell Technology Group (NASDAQ:MRVL) traded down 0.46% on Tuesday, hitting $15.02. The company had a trading volume of 8,507,189 shares. The company has a market cap of $7.55 billion, a price-to-earnings ratio of 366.34 and a beta of 1.11. Marvell Technology Group has a 12-month low of $9.05 and a 12-month high of $16.72. The company has a 50 day moving average of $15.40 and a 200-day moving average of $14.63.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 20th. Investors of record on Tuesday, April 4th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.60%. The ex-dividend date was Friday, March 31st. Marvell Technology Group’s payout ratio is presently 114.29%.
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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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