Brokerages expect Marvell Technology Group Ltd. (NASDAQ:MRVL) to announce earnings per share (EPS) of $0.33 for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Marvell Technology Group’s earnings, with estimates ranging from $0.31 to $0.37. Marvell Technology Group posted earnings of $0.32 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 3.1%. The firm is expected to report its next quarterly earnings report on Thursday, March 14th.
On average, analysts expect that Marvell Technology Group will report full year earnings of $1.24 per share for the current financial year, with EPS estimates ranging from $1.22 to $1.31. For the next fiscal year, analysts anticipate that the company will report earnings of $1.52 per share, with EPS estimates ranging from $1.43 to $1.61. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Marvell Technology Group.
Marvell Technology Group (NASDAQ:MRVL) last announced its quarterly earnings results on Tuesday, December 4th. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.01. The business had revenue of $851.05 million during the quarter, compared to the consensus estimate of $844.07 million. Marvell Technology Group had a net margin of 15.36% and a return on equity of 10.70%. The business’s revenue was up 38.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.34 EPS.
A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in Marvell Technology Group by 45.0% in the 3rd quarter. Vanguard Group Inc. now owns 53,229,098 shares of the semiconductor company’s stock valued at $1,027,321,000 after buying an additional 16,517,490 shares during the period. Morgan Stanley boosted its position in Marvell Technology Group by 837.0% in the 3rd quarter. Morgan Stanley now owns 6,592,139 shares of the semiconductor company’s stock valued at $127,230,000 after buying an additional 5,888,609 shares during the period. Legal & General Group Plc boosted its position in Marvell Technology Group by 57.2% in the 3rd quarter. Legal & General Group Plc now owns 2,614,424 shares of the semiconductor company’s stock valued at $50,362,000 after buying an additional 950,853 shares during the period. Rehmann Capital Advisory Group purchased a new position in Marvell Technology Group in the 3rd quarter valued at approximately $506,000. Finally, Penn Capital Management Co. Inc. purchased a new position in Marvell Technology Group in the 3rd quarter valued at approximately $3,099,000. 95.31% of the stock is owned by institutional investors.
Shares of NASDAQ MRVL traded down $0.88 during midday trading on Friday, reaching $15.50. 16,100,598 shares of the stock were exchanged, compared to its average volume of 8,471,935. The company has a market capitalization of $10.61 billion, a P/E ratio of 14.90, a P/E/G ratio of 2.08 and a beta of 1.01. 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 twelve month low of $14.69 and a twelve month high of $25.18.
Marvell Technology Group declared that its board has authorized a share buyback program on Tuesday, October 16th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the semiconductor company to buy up to 7.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.
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 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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