Marvell Technology Group Ltd. (MRVL) Given Consensus Rating of “Buy” by Analysts

Shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) have been given a consensus recommendation of “Buy” by the twenty-nine research firms that are presently covering the company, Marketbeat reports. Five analysts have rated the stock with a hold recommendation and twenty-three have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $25.59.

A number of equities analysts recently issued reports on the company. BidaskClub raised Marvell Technology Group from a “sell” rating to a “hold” rating in a report on Friday, November 2nd. TheStreet lowered Marvell Technology Group from a “b” rating to a “c+” rating in a report on Friday, October 26th. Barclays decreased their price objective on Marvell Technology Group from $30.00 to $25.00 and set an “overweight” rating for the company in a report on Tuesday, October 23rd. Goldman Sachs Group set a $23.00 price objective on Marvell Technology Group and gave the stock a “buy” rating in a report on Wednesday, October 17th. Finally, BMO Capital Markets raised Marvell Technology Group from a “market perform” rating to an “outperform” rating and set a $24.00 price objective for the company in a report on Monday, October 15th.

In other Marvell Technology Group news, CEO Matthew J. Murphy sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $20.64, for a total value of $206,400.00. Following the completion of the sale, the chief executive officer now directly owns 1,755 shares in the company, valued at $36,223.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.10% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new stake in shares of Marvell Technology Group during the 2nd quarter valued at $117,000. MUFG Americas Holdings Corp acquired a new stake in shares of Marvell Technology Group during the 2nd quarter valued at $120,000. Commonwealth Bank of Australia lifted its position in shares of Marvell Technology Group by 1,142.9% during the 2nd quarter. Commonwealth Bank of Australia now owns 8,700 shares of the semiconductor company’s stock valued at $185,000 after acquiring an additional 8,000 shares during the last quarter. Cerebellum GP LLC acquired a new stake in shares of Marvell Technology Group during the 3rd quarter valued at $183,000. Finally, K2 Principal Fund L.P. acquired a new stake in shares of Marvell Technology Group during the 2nd quarter valued at $207,000. Hedge funds and other institutional investors own 82.65% of the company’s stock.

MRVL stock traded down $0.17 on Thursday, reaching $16.71. The company’s stock had a trading volume of 477,768 shares, compared to its average volume of 13,257,118. Marvell Technology Group has a 52 week low of $15.31 and a 52 week high of $25.18. The firm has a market capitalization of $11.10 billion, a price-to-earnings ratio of 16.10, a price-to-earnings-growth ratio of 2.02 and a beta of 1.09. 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 (NASDAQ:MRVL) last issued its quarterly earnings data on Thursday, September 6th. The semiconductor company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01). Marvell Technology Group had a return on equity of 10.70% and a net margin of 15.36%. The business had revenue of $665.31 million during the quarter, compared to the consensus estimate of $685.00 million. During the same period last year, the company earned $0.30 earnings per share. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. On average, equities analysts anticipate that Marvell Technology Group will post 0.86 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 23rd. Shareholders of record on Tuesday, October 2nd were given a $0.06 dividend. The ex-dividend date of this dividend was Monday, October 1st. This represents a $0.24 dividend on an annualized basis and a yield of 1.44%. Marvell Technology Group’s dividend payout ratio (DPR) is 23.08%.

Marvell Technology Group announced that its board has authorized a share repurchase program on Tuesday, October 16th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the semiconductor company to purchase up to 7.9% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

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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