Marvell Technology Group Ltd. (MRVL) Receives $23.92 Average PT from Analysts
Shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) have been assigned a consensus recommendation of “Buy” from the thirty ratings firms that are presently covering the company, MarketBeat reports. Eight analysts have rated the stock with a hold recommendation, nineteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $23.92.
Several analysts have issued reports on the stock. Cowen reaffirmed an “outperform” rating and set a $29.00 price target (up from $21.00) on shares of Marvell Technology Group in a research report on Monday, November 27th. BMO Capital Markets upped their price objective on shares of Marvell Technology Group to $25.00 and gave the company a “market perform” rating in a report on Monday, November 27th. Credit Suisse Group reiterated an “outperform” rating and issued a $30.00 price objective (up from $22.00) on shares of Marvell Technology Group in a report on Tuesday, November 28th. Oppenheimer upped their price objective on shares of Marvell Technology Group from $23.00 to $30.00 and gave the company an “outperform” rating in a report on Tuesday, November 21st. Finally, Stifel Nicolaus upped their price objective on shares of Marvell Technology Group from $16.00 to $19.00 and gave the company a “hold” rating in a report on Wednesday, November 29th.
In related news, Director Michael G. Strachan sold 20,000 shares of the company’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $23.65, for a total value of $473,000.00. Following the transaction, the director now directly owns 19,702 shares in the company, valued at $465,952.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Marvell Semiconductor, Inc. Ca sold 1,512 shares of the company’s stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $23.86, for a total transaction of $36,076.32. The disclosure for this sale can be found here. Insiders sold 31,324 shares of company stock worth $717,091 over the last 90 days. 6.80% of the stock is currently owned by corporate insiders.
Marvell Technology Group (NASDAQ MRVL) traded up $0.31 during midday trading on Tuesday, reaching $21.05. 956,073 shares of the company’s stock traded hands, compared to its average volume of 8,406,441. Marvell Technology Group has a 1 year low of $14.58 and a 1 year high of $24.22. The company has a market capitalization of $10,577.76, a price-to-earnings ratio of 27.36, a P/E/G ratio of 1.12 and a beta of 0.95.
Marvell Technology Group (NASDAQ:MRVL) last posted its quarterly earnings results on Tuesday, November 28th. The semiconductor company reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 for the quarter, compared to analyst estimates of $613.49 million. During the same period in the prior year, the firm posted $0.20 earnings per share. The company’s quarterly revenue was down 5.8% compared to the same quarter last year. analysts forecast that Marvell Technology Group will post 1.01 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Wednesday, December 27th were paid a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, December 26th. This represents a $0.24 annualized dividend and a dividend yield of 1.14%. Marvell Technology Group’s dividend payout ratio (DPR) is presently 31.17%.
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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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