Marvell Technology Group Ltd. (NASDAQ:MRVL) saw strong trading volume on Thursday . 5,745,526 shares traded hands during trading, a decline of 1% from the previous session’s volume of 5,812,956 shares.The stock last traded at $11.09 and had previously closed at $11.23.

A number of equities analysts recently weighed in on the company. Cowen and Company reissued an “outperform” rating and set a $15.00 price objective on shares of Marvell Technology Group in a report on Thursday, April 7th. FBR & Co reissued an “outperform” rating and set a $11.00 price objective on shares of Marvell Technology Group in a report on Thursday, April 7th. B. Riley reissued a “buy” rating and set a $12.00 price objective on shares of Marvell Technology Group in a report on Wednesday, April 6th. Vetr cut Marvell Technology Group from a “strong-buy” rating to a “buy” rating and set a $11.86 price objective on the stock. in a report on Wednesday, April 6th. Finally, Morgan Stanley raised their price objective on Marvell Technology Group from $10.50 to $12.00 in a report on Wednesday, April 6th. Three equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and seven have given a buy rating to the company. Marvell Technology Group has a consensus rating of “Hold” and an average price target of $10.96.

The stock’s market capitalization is $5.69 billion. The company’s 50 day moving average price is $9.99 and its 200-day moving average price is $9.66.

Marvell Technology Group (NASDAQ:MRVL) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.09 by $0.02. During the same period in the previous year, the company earned $0.25 EPS. On average, equities analysts forecast that Marvell Technology Group Ltd. will post $0.42 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 12th. Shareholders of record on Tuesday, June 14th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, June 10th. This represents a $0.24 annualized dividend and a yield of 2.13%.

A number of hedge funds and institutional investors have recently added to or reduced their stakes in the company. State of Tennessee Treasury Department increased its position in Marvell Technology Group by 15.0% in the fourth quarter. State of Tennessee Treasury Department now owns 920,000 shares of the company’s stock valued at $8,114,000 after buying an additional 120,000 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in Marvell Technology Group by 45.8% in the fourth quarter. BNP Paribas Arbitrage SA now owns 227,355 shares of the company’s stock valued at $2,005,000 after buying an additional 71,420 shares during the last quarter. Andra AP fonden increased its position in Marvell Technology Group by 72.9% in the fourth quarter. Andra AP fonden now owns 266,600 shares of the company’s stock valued at $2,351,000 after buying an additional 112,400 shares during the last quarter. Morgan Stanley increased its position in Marvell Technology Group by 37.6% in the fourth quarter. Morgan Stanley now owns 17,512,669 shares of the company’s stock valued at $154,461,000 after buying an additional 4,789,328 shares during the last quarter. Finally, Afam Capital Inc. increased its position in Marvell Technology Group by 10.0% in the fourth quarter. Afam Capital Inc. now owns 331,309 shares of the company’s stock valued at $2,922,000 after buying an additional 30,037 shares during the last quarter.

Marvell Technology Group Ltd. (Marvell) is a fabless semiconductor provider of application-specific standard products. The Company develops System-on-a-Chip (SoC) devices. Its product portfolio includes devices for data storage, enterprise-class Ethernet data switching, Ethernet physical-layer transceivers (PHY), mobile handsets, connectivity, Internet-of-Things (IoT) devices and other consumer electronics.

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