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.

Several hedge funds have recently added to or reduced their stakes in MRVL. Prudential Financial Inc. grew its stake in shares of Marvell Technology Group by 6.1% in the second quarter. Prudential Financial Inc. now owns 29,640 shares of the semiconductor company’s stock valued at $490,000 after acquiring an additional 1,700 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Marvell Technology Group by 21.3% in the second quarter. Principal Financial Group Inc. now owns 46,352 shares of the semiconductor company’s stock valued at $766,000 after acquiring an additional 8,136 shares in the last quarter. D.A. Davidson & CO. grew its stake in shares of Marvell Technology Group by 10.2% in the second 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 in the last quarter. Numeric Investors LLC acquired a new position in shares of Marvell Technology Group in the second quarter valued at about $354,000. Finally, Stifel Financial Corp grew its stake in shares of Marvell Technology Group by 22.6% in the second quarter. Stifel Financial Corp now owns 20,648 shares of the semiconductor company’s stock valued at $343,000 after acquiring an additional 3,811 shares in the last quarter. Institutional investors and hedge funds own 78.92% of the company’s stock.

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.

Analyst Recommendations for Marvell Technology Group (NASDAQ:MRVL)

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