Shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) saw unusually-strong trading volume on Thursday . Approximately 5,745,526 shares were traded during mid-day 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 issued reports on MRVL shares. Brean Capital raised shares of Marvell Technology Group from a “hold” rating to a “buy” rating and set a $12.50 price target for the company in a research note on Tuesday, April 5th. Cowen and Company reissued an “outperform” rating and issued a $15.00 price target on shares of Marvell Technology Group in a research note on Friday. Bank of America Corp. reissued a “sell” rating and issued a $10.00 price target on shares of Marvell Technology Group in a research note on Wednesday. Needham & Company LLC reissued a “hold” rating on shares of Marvell Technology Group in a research note on Monday, July 18th. Finally, Morgan Stanley increased their price target on shares of Marvell Technology Group from $10.50 to $12.00 in a research note on Wednesday, April 6th. Three equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and seven have issued a buy rating to the company’s stock. Marvell Technology Group has an average rating of “Hold” and an average price target of $10.96.

The company’s market cap is $5.93 billion. The stock’s 50 day moving average price is $10.03 and its 200 day moving average price is $9.68.

Marvell Technology Group (NASDAQ:MRVL) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.09 by $0.02. During the same quarter in the previous year, the company earned $0.25 earnings per share. Analysts predict that Marvell Technology Group Ltd. will post $0.41 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 12th. Stockholders of record on Tuesday, June 14th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend was Friday, June 10th.

A number of hedge funds have recently made changes to their positions in MRVL. Mizuho Trust & Banking Co. Ltd. increased its stake in shares of Marvell Technology Group by 1.4% in the fourth quarter. Mizuho Trust & Banking Co. Ltd. now owns 589,059 shares of the company’s stock worth $5,160,000 after buying an additional 8,047 shares during the period. Swiss National Bank increased its stake in shares of Marvell Technology Group by 1.3% in the fourth quarter. Swiss National Bank now owns 749,672 shares of the company’s stock worth $6,612,000 after buying an additional 9,400 shares during the period. Comerica Bank increased its stake in shares of Marvell Technology Group by 3.3% in the fourth quarter. Comerica Bank now owns 320,118 shares of the company’s stock worth $2,632,000 after buying an additional 10,086 shares during the period. Afam Capital Inc. increased its stake in shares of Marvell Technology Group by 10.0% in the fourth quarter. Afam Capital Inc. now owns 331,309 shares of the company’s stock worth $2,922,000 after buying an additional 30,037 shares during the period. Finally, California Public Employees Retirement System increased its stake in shares of Marvell Technology Group by 3.2% in the fourth quarter. California Public Employees Retirement System now owns 1,424,034 shares of the company’s stock worth $12,560,000 after buying an additional 44,200 shares during the period.

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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