Marvell Technology Group (NASDAQ:MRVL) Earns Outperform Rating from Analysts at William Blair

William Blair began coverage on shares of Marvell Technology Group (NASDAQ:MRVL) in a research note published on Monday, Benzinga reports. The firm issued an outperform rating and a $25.40 price target on the semiconductor company’s stock. William Blair also issued estimates for Marvell Technology Group’s Q2 2020 earnings at $0.05 EPS, Q3 2020 earnings at $0.11 EPS, Q4 2020 earnings at $0.16 EPS, FY2020 earnings at $0.41 EPS, Q1 2021 earnings at $0.15 EPS, Q2 2021 earnings at $0.19 EPS, Q3 2021 earnings at $0.25 EPS, Q4 2021 earnings at $0.27 EPS and FY2021 earnings at $0.87 EPS.

A number of other equities research analysts have also weighed in on MRVL. UBS Group lifted their target price on W. R. Berkley from $53.00 to $56.00 and gave the company a sell rating in a research report on Wednesday, April 24th. Bank of America reaffirmed a buy rating and set a C$10.00 target price on shares of Hexo in a research report on Wednesday, April 17th. Piper Jaffray Companies lifted their target price on Marvell Technology Group from $22.00 to $30.00 and gave the company an overweight rating in a research report on Friday, May 3rd. MKM Partners lifted their target price on Marvell Technology Group from $25.00 to $28.00 and gave the company a buy rating in a research report on Friday, May 31st. Finally, Morgan Stanley reduced their price target on Zuora from $22.00 to $16.00 and set an equal weight rating for the company in a research report on Friday, May 31st. Five analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company’s stock. Marvell Technology Group presently has an average rating of Buy and a consensus price target of $26.00.

Shares of NASDAQ MRVL opened at $26.10 on Monday. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.23. The firm’s fifty day moving average price is $24.06. The company has a market cap of $17.02 billion, a price-to-earnings ratio of 38.40, a PEG ratio of 8.13 and a beta of 1.17. Marvell Technology Group has a twelve month low of $14.34 and a twelve month high of $26.28.

Marvell Technology Group (NASDAQ:MRVL) last issued its earnings results on Thursday, May 30th. The semiconductor company reported $0.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.02. The business had revenue of $662.00 million during the quarter, compared to analyst estimates of $651.07 million. Marvell Technology Group had a positive return on equity of 5.88% and a negative net margin of 12.18%. Marvell Technology Group’s revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.32 EPS. On average, equities research analysts anticipate that Marvell Technology Group will post 0.43 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, July 12th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, July 11th. This represents a $0.24 annualized dividend and a yield of 0.92%. Marvell Technology Group’s dividend payout ratio (DPR) is 28.24%.

In other Marvell Technology Group news, CAO Willem A. Meintjes sold 28,057 shares of the business’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $24.32, for a total transaction of $682,346.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Michael G. Strachan sold 10,000 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $23.78, for a total value of $237,800.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 323,057 shares of company stock worth $8,299,646. 1.10% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of MRVL. FMR LLC grew its stake in Marvell Technology Group by 48.1% during the 4th quarter. FMR LLC now owns 80,824,523 shares of the semiconductor company’s stock valued at $1,308,549,000 after purchasing an additional 26,251,979 shares during the last quarter. BlackRock Inc. grew its stake in Marvell Technology Group by 29.1% during the 1st quarter. BlackRock Inc. now owns 46,081,466 shares of the semiconductor company’s stock valued at $916,559,000 after purchasing an additional 10,388,875 shares during the last quarter. FIL Ltd grew its stake in Marvell Technology Group by 117.7% during the 1st quarter. FIL Ltd now owns 10,543,241 shares of the semiconductor company’s stock valued at $209,705,000 after purchasing an additional 5,700,711 shares during the last quarter. Norges Bank purchased a new stake in Marvell Technology Group during the 4th quarter valued at about $90,449,000. Finally, JPMorgan Chase & Co. grew its stake in Marvell Technology Group by 62.7% during the 1st quarter. JPMorgan Chase & Co. now owns 10,742,547 shares of the semiconductor company’s stock valued at $213,670,000 after purchasing an additional 4,138,462 shares during the last quarter.

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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