Marvell Technology Group Ltd. (NASDAQ:MRVL)‘s stock had its “buy” rating reaffirmed by investment analysts at Cowen and Company in a research report issued on Friday.

A number of other research analysts also recently issued reports on the stock. Oppenheimer Holdings, Inc. upgraded shares of Marvell Technology Group from a “market perform” rating to an “outperform” rating and set a $18.50 price target on the stock in a research report on Friday, May 26th. BidaskClub downgraded shares of Marvell Technology Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Zacks Investment Research downgraded shares of Marvell Technology Group from a “buy” rating to a “hold” rating in a research report on Wednesday, May 3rd. B. Riley restated a “buy” rating and issued a $23.00 price target on shares of Marvell Technology Group in a research report on Wednesday, June 28th. Finally, Pacific Crest upgraded shares of Marvell Technology Group from a “sector weight” rating to an “overweight” rating and set a $22.00 price target on the stock in a research report on Tuesday, June 20th. One analyst has rated the stock with a sell rating, nine have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $18.05.

Marvell Technology Group (MRVL) opened at 16.58 on Friday. The company has a 50-day moving average of $17.03 and a 200 day moving average of $15.63. The firm has a market capitalization of $8.33 billion, a price-to-earnings ratio of 56.01 and a beta of 1.11. Marvell Technology Group has a one year low of $9.68 and a one year high of $18.18.

Marvell Technology Group (NASDAQ:MRVL) last posted its earnings results on Thursday, May 25th. The semiconductor company reported $0.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.04. Marvell Technology Group had a net margin of 6.19% and a return on equity of 7.96%. The firm had revenue of $579.18 million for the quarter, compared to analyst estimates of $570.72 million. During the same period in the previous year, the firm posted $0.01 EPS. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. On average, analysts anticipate that Marvell Technology Group will post $1.10 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 21st. Investors of record on Wednesday, July 5th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Friday, June 30th. Marvell Technology Group’s dividend payout ratio is currently 82.76%.

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A number of large investors have recently made changes to their positions in the stock. ProShare Advisors LLC increased its stake in shares of Marvell Technology Group by 0.3% in the first quarter. ProShare Advisors LLC now owns 27,321 shares of the semiconductor company’s stock worth $417,000 after buying an additional 75 shares in the last quarter. Prudential Financial Inc. increased its stake in shares of Marvell Technology Group by 0.7% in the first quarter. Prudential Financial Inc. now owns 27,940 shares of the semiconductor company’s stock worth $426,000 after buying an additional 200 shares in the last quarter. Greenwood Capital Associates LLC increased its stake in shares of Marvell Technology Group by 2.8% in the first quarter. Greenwood Capital Associates LLC now owns 13,795 shares of the semiconductor company’s stock worth $211,000 after buying an additional 380 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its stake in shares of Marvell Technology Group by 4.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 11,607 shares of the semiconductor company’s stock worth $166,000 after buying an additional 492 shares in the last quarter. Finally, World Asset Management Inc increased its stake in shares of Marvell Technology Group by 1.5% in the first quarter. World Asset Management Inc now owns 33,066 shares of the semiconductor company’s stock worth $505,000 after buying an additional 498 shares in the last quarter. 74.08% of the stock is currently owned by institutional investors and hedge funds.

Marvell Technology Group Company Profile

Marvell Technology Group Ltd. is a semiconductor provider of application-specific standard products. The Company is engaged in the design, development and sale of integrated circuits. The Company develops System-on-a-Chip (SoC) devices. It also develops integrated hardware platforms along with software that incorporates digital computing technologies designed and configured to provide an optimized computing solution.

Analyst Recommendations for Marvell Technology Group (NASDAQ:MRVL)

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