Positive News Coverage Somewhat Unlikely to Affect Marvell Technology Group (MRVL) Stock Price
News stories about Marvell Technology Group (NASDAQ:MRVL) have trended positive recently, according to Accern Sentiment Analysis. The research group ranks the sentiment of news coverage by analyzing more than twenty million news and blog sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Marvell Technology Group earned a news impact score of 0.25 on Accern’s scale. Accern also gave media coverage about the semiconductor company an impact score of 46.3935404143485 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
These are some of the news headlines that may have effected Accern Sentiment Analysis’s scoring:
- Livforsakringsbolaget Skandia Omsesidigt Has $137000 Stake in Marvell Technology Group Ltd. (MRVL) (joshnaijablog.com)
- See what the IHS Markit Score report has to say about Marvell Technology Group Ltd. (finance.yahoo.com)
- Marvell’s Industry-Leading 88SS1074 SATA SSD Controller Surpasses 50 Million Shipment Milestone in Just 18 Months (finance.yahoo.com)
- Aviva PLC Sold A Little More Marvell Technology Group Ltd. (MRVL) Stock Last Quarter (highlightpress.com)
- Hoertkorn Richard Charles Has $5082000 Position in Marvell Technology Group Ltd. (MRVL) (fishinghd.com)
A number of equities research analysts have recently commented on the stock. Oppenheimer Holdings, Inc. raised shares of Marvell Technology Group from a “market perform” rating to an “outperform” rating and set a $18.50 price objective on the stock in a research note on Friday, May 26th. BidaskClub lowered shares of Marvell Technology Group from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Cowen and Company reaffirmed an “outperform” rating and issued a $21.00 price objective on shares of Marvell Technology Group in a research note on Wednesday, June 21st. Zacks Investment Research lowered shares of Marvell Technology Group from a “buy” rating to a “hold” rating in a research note on Wednesday, May 3rd. Finally, B. Riley reaffirmed a “buy” rating and issued a $23.00 price objective on shares of Marvell Technology Group in a research note on Wednesday, June 28th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $18.44.
Shares of Marvell Technology Group (NASDAQ MRVL) traded up 2.26% during mid-day trading on Friday, hitting $15.39. 3,849,629 shares of the stock traded hands. The company’s 50-day moving average price is $16.16 and its 200 day moving average price is $15.98. The company has a market capitalization of $7.74 billion, a PE ratio of 51.99 and a beta of 1.10. Marvell Technology Group has a 1-year low of $11.30 and a 1-year high of $18.18.
Marvell Technology Group (NASDAQ:MRVL) last released its earnings results on Thursday, May 25th. The semiconductor company reported $0.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.04. The company 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 firm’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.01 EPS. Equities research analysts forecast that Marvell Technology Group will post $1.10 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 21st. Shareholders of record on Wednesday, July 5th were paid a $0.06 dividend. The ex-dividend date of this dividend was Friday, June 30th. This represents a $0.24 annualized dividend and a yield of 1.56%. Marvell Technology Group’s payout ratio is 82.76%.
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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.
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