Several other analysts have also recently weighed in on MRVL. Piper Jaffray started coverage on Marvell Technology Group in a report on Monday, December 18th. They issued an overweight rating and a $25.00 price target on the stock. ValuEngine raised Marvell Technology Group from a hold rating to a buy rating in a report on Sunday, December 31st. BidaskClub raised Marvell Technology Group from a hold rating to a buy rating in a report on Friday, February 23rd. Zacks Investment Research cut Marvell Technology Group from a hold rating to a sell rating in a report on Wednesday, March 7th. Finally, Argus started coverage on Marvell Technology Group in a report on Wednesday, March 7th. They issued a buy rating and a $28.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $25.59.
Shares of NASDAQ MRVL opened at $22.02 on Monday. Marvell Technology Group has a 52 week low of $14.64 and a 52 week high of $25.18. The stock has a market capitalization of $10,803.84, a price-to-earnings ratio of 21.17, a P/E/G ratio of 1.67 and a beta of 0.97.
Marvell Technology Group (NASDAQ:MRVL) last released its quarterly earnings results on Thursday, March 8th. The semiconductor company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.01. Marvell Technology Group had a return on equity of 13.13% and a net margin of 21.56%. The firm had revenue of $615.40 million for the quarter, compared to analysts’ expectations of $610.99 million. During the same quarter last year, the firm posted $0.22 EPS. The company’s revenue was up 8.7% compared to the same quarter last year. equities analysts expect that Marvell Technology Group will post 1.16 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 18th. Investors of record on Thursday, March 29th were issued a dividend of $0.06 per share. The ex-dividend date was Wednesday, March 28th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.09%. Marvell Technology Group’s dividend payout ratio is 23.08%.
In other Marvell Technology Group news, CEO Matthew J. Murphy sold 10,000 shares of Marvell Technology Group stock in a transaction that occurred on Wednesday, April 4th. The stock was sold at an average price of $20.00, for a total value of $200,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Matthew J. Murphy sold 30,000 shares of Marvell Technology Group stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $24.24, for a total value of $727,200.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,310 shares of company stock worth $1,001,344. 6.80% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in MRVL. Advisor Group Inc. increased its stake in Marvell Technology Group by 516.2% in the 4th quarter. Advisor Group Inc. now owns 4,800 shares of the semiconductor company’s stock worth $103,000 after purchasing an additional 4,021 shares during the period. Delpha Capital Management LLC purchased a new position in Marvell Technology Group in the 4th quarter worth approximately $112,000. Tower Research Capital LLC TRC increased its stake in Marvell Technology Group by 208.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,482 shares of the semiconductor company’s stock worth $118,000 after purchasing an additional 3,704 shares during the period. Envestnet Asset Management Inc. increased its stake in Marvell Technology Group by 182.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 7,322 shares of the semiconductor company’s stock worth $157,000 after purchasing an additional 4,734 shares during the period. Finally, American International Group Inc. purchased a new position in Marvell Technology Group in the 4th quarter worth approximately $181,000. 91.56% of the stock is currently owned by institutional investors and hedge funds.
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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, such as 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 consisting of 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 enterprise, data centers, and cloud computing businesses.
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