Wall Street analysts expect Marvell Technology Group Ltd. (NASDAQ:MRVL) to post sales of $600.31 million for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Marvell Technology Group’s earnings, with estimates ranging from $597.11 million to $603.00 million. Marvell Technology Group reported sales of $626.40 million in the same quarter last year, which would suggest a negative year over year growth rate of 4.2%. The business is scheduled to issue its next earnings results after the market closes on Thursday, August 24th.

According to Zacks, analysts expect that Marvell Technology Group will report full year sales of $600.31 million for the current financial year, with estimates ranging from $2.38 billion to $2.45 billion. For the next fiscal year, analysts expect that the business will post sales of $2.48 billion per share, with estimates ranging from $2.39 billion to $2.66 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Marvell Technology Group.

Marvell Technology Group (NASDAQ:MRVL) last announced its quarterly earnings data 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. The firm had revenue of $579.18 million during the quarter, compared to analyst estimates of $570.72 million. Marvell Technology Group had a net margin of 6.19% and a return on equity of 7.96%. The business’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.01 EPS.

A number of research analysts recently weighed in on the stock. BidaskClub lowered shares of Marvell Technology Group from a “sell” rating to a “strong sell” rating in a report on Wednesday. Zacks Investment Research lowered shares of Marvell Technology Group from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Cowen and Company reaffirmed a “buy” rating on shares of Marvell Technology Group in a research note on Friday, July 14th. MKM Partners reaffirmed a “buy” rating and set a $20.00 price objective on shares of Marvell Technology Group in a research note on Tuesday, July 4th. Finally, B. Riley reaffirmed a “buy” rating and set a $23.00 price objective on shares of Marvell Technology Group in a research note on Wednesday, June 28th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $18.44.

COPYRIGHT VIOLATION WARNING: This piece of content was first posted by Daily Political and is the property of of Daily Political. If you are viewing this piece of content on another website, it was copied illegally and reposted in violation of U.S. and international trademark & copyright law. The correct version of this piece of content can be viewed at https://www.dailypolitical.com/2017/08/06/600-31-million-in-sales-expected-for-marvell-technology-group-ltd-mrvl-this-quarter.html.

Shares of Marvell Technology Group (NASDAQ MRVL) traded up 0.32% during midday trading on Tuesday, hitting $15.55. 4,100,144 shares of the stock were exchanged. Marvell Technology Group has a 52-week low of $11.27 and a 52-week high of $18.18. The firm has a market cap of $7.82 billion, a PE ratio of 52.53 and a beta of 1.10. The firm’s 50-day moving average is $16.62 and its 200 day moving average is $15.94.

The company also recently announced a quarterly dividend, which was paid on Friday, July 21st. Investors of record on Wednesday, July 5th were given a $0.06 dividend. The ex-dividend date of this dividend was Friday, June 30th. This represents a $0.24 dividend on an annualized basis and a yield of 1.54%. Marvell Technology Group’s dividend payout ratio is currently 82.76%.

Large investors have recently modified their holdings of the stock. Creative Planning raised its stake in shares of Marvell Technology Group by 175.3% in the first quarter. Creative Planning now owns 7,158 shares of the semiconductor company’s stock worth $109,000 after buying an additional 4,558 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Marvell Technology Group by 103.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 7,258 shares of the semiconductor company’s stock worth $102,000 after buying an additional 3,696 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Marvell Technology Group by 1,740.4% in the first quarter. Tower Research Capital LLC TRC now owns 7,969 shares of the semiconductor company’s stock worth $122,000 after buying an additional 7,536 shares in the last quarter. James Investment Research Inc. purchased a new stake in shares of Marvell Technology Group during the first quarter worth approximately $138,000. Finally, United Capital Financial Advisers LLC purchased a new stake in shares of Marvell Technology Group during the first quarter worth approximately $165,000. Hedge funds and other institutional investors own 74.12% of the company’s stock.

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.

Get a free copy of the Zacks research report on Marvell Technology Group (MRVL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Marvell Technology Group (NASDAQ:MRVL)

Receive News & Ratings for Marvell Technology Group Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marvell Technology Group Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.