Marvell Technology Group (NASDAQ:MRVL) had its target price lifted by Morgan Stanley from $20.50 to $22.00 in a report issued on Wednesday. The brokerage currently has an equal weight rating on the semiconductor company’s stock.

MRVL has been the subject of several other research reports. Bank of America raised shares of Marvell Technology Group from a neutral rating to a buy rating in a research report on Monday, November 20th. Jefferies Group reaffirmed a hold rating and set a $18.50 price target (down previously from $19.00) on shares of Marvell Technology Group in a research report on Thursday, August 24th. Cowen reaffirmed an outperform rating and set a $29.00 price target (up previously from $21.00) on shares of Marvell Technology Group in a research report on Monday, November 27th. Oppenheimer reissued a buy rating and issued a $23.00 price objective on shares of Marvell Technology Group in a research report on Monday, November 6th. Finally, BMO Capital Markets reissued a market perform rating and issued a $16.00 price objective on shares of Marvell Technology Group in a research report on Monday, August 28th. Eight research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of Buy and an average price target of $23.87.

Shares of Marvell Technology Group (NASDAQ:MRVL) traded down $0.36 during mid-day trading on Wednesday, reaching $21.83. 6,337,400 shares of the company traded hands, compared to its average volume of 6,814,624. Marvell Technology Group has a 1 year low of $13.83 and a 1 year high of $24.22. The firm has a market capitalization of $10,720.00, a price-to-earnings ratio of 23.86, a price-to-earnings-growth ratio of 1.34 and a beta of 1.13.

Marvell Technology Group (NASDAQ:MRVL) last issued its quarterly earnings results on Tuesday, November 28th. The semiconductor company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.33 by $0.01. Marvell Technology Group had a net margin of 16.53% and a return on equity of 11.93%. The firm had revenue of $616.00 million during the quarter, compared to analyst estimates of $613.49 million. During the same quarter in the prior year, the business posted $0.20 earnings per share. Marvell Technology Group’s revenue for the quarter was down 5.8% compared to the same quarter last year. sell-side analysts forecast that Marvell Technology Group will post 1.01 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Wednesday, December 27th will be paid a $0.06 dividend. The ex-dividend date is Tuesday, December 26th. This represents a $0.24 annualized dividend and a dividend yield of 1.10%. Marvell Technology Group’s dividend payout ratio (DPR) is presently 42.11%.

In other Marvell Technology Group news, major shareholder Sehat Sutardja sold 93,895 shares of the stock in a transaction on Friday, September 29th. The shares were sold at an average price of $18.02, for a total transaction of $1,691,987.90. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Marvell Semiconductor, Inc. Ca sold 9,812 shares of the stock in a transaction on Friday, December 1st. The shares were sold at an average price of $21.20, for a total transaction of $208,014.40. The disclosure for this sale can be found here. Insiders sold 12,700,504 shares of company stock valued at $235,075,751 over the last 90 days. Insiders own 6.80% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. D.A. Davidson & CO. boosted its stake in Marvell Technology Group by 10.2% during the 2nd quarter. D.A. Davidson & CO. now owns 6,461 shares of the semiconductor company’s stock valued at $106,000 after acquiring an additional 600 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Marvell Technology Group during the 3rd quarter valued at $106,000. Massey Quick Simon & CO. LLC bought a new position in Marvell Technology Group during the 3rd quarter valued at $124,000. Boothbay Fund Management LLC bought a new position in shares of Marvell Technology Group in the 3rd quarter worth about $203,000. Finally, First Quadrant L P CA bought a new position in shares of Marvell Technology Group in the 3rd quarter worth about $211,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

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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.

Analyst Recommendations for Marvell Technology Group (NASDAQ:MRVL)

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