Marvell Technology Group (NASDAQ:MRVL) updated its fourth quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.30-0.34 for the period, compared to the Thomson Reuters consensus estimate of $0.33. The company issued revenue guidance of $790-830 million, compared to the consensus revenue estimate of $849.02 million.Marvell Technology Group also updated its Q4 2019 guidance to $0.30-0.34 EPS.

A number of analysts have recently issued reports on the company. Needham & Company LLC reiterated a buy rating and set a $25.00 price target (down previously from $27.00) on shares of Marvell Technology Group in a research report on Wednesday. Craig Hallum reiterated a buy rating and set a $22.00 price target (down previously from $34.00) on shares of Marvell Technology Group in a research report on Thursday. UBS Group reiterated an in-line rating and set a $25.00 price target (down previously from $30.00) on shares of Marvell Technology Group in a research report on Thursday. Citigroup dropped their price target on Marvell Technology Group from $20.00 to $17.30 and set a neutral rating for the company in a research report on Thursday. Finally, Cowen dropped their price target on Marvell Technology Group from $26.00 to $22.00 and set an outperform rating for the company in a research report on Thursday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and seventeen have issued a buy rating to the stock. Marvell Technology Group presently has an average rating of Buy and a consensus price target of $24.44.

NASDAQ:MRVL traded up $0.26 during mid-day trading on Thursday, reaching $15.76. The stock had a trading volume of 5,686,706 shares, compared to its average volume of 8,981,598. The company has a market capitalization of $10.21 billion, a price-to-earnings ratio of 15.15, a PEG ratio of 1.97 and a beta of 1.01. Marvell Technology Group has a one year low of $14.69 and a one year high of $25.18. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.54 and a quick ratio of 1.76.

Marvell Technology Group (NASDAQ:MRVL) last released its earnings results on Tuesday, December 4th. The semiconductor company reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.01. The company had revenue of $851.05 million during the quarter, compared to the consensus estimate of $844.07 million. Marvell Technology Group had a return on equity of 10.43% and a net margin of 4.76%. Marvell Technology Group’s quarterly revenue was up 38.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 EPS. As a group, sell-side analysts anticipate that Marvell Technology Group will post 0.86 EPS for the current year.

Marvell Technology Group announced that its board has authorized a share buyback program on Tuesday, October 16th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the semiconductor company to buy up to 7.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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Marvell Technology Group Company Profile

Marvell Technology Group Ltd. designs, develops, and markets analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a range of storage products, including hard disk drive (HDD) and solid-state drive controllers, as well as HDD components, such as HDD preamps components; and develops software-enabled silicon solutions comprising serial advanced technology attachment port multipliers, bridges, serial attached SCSI, and non-volatile memory express redundant array of independent disks controllers and converged storage processors for enterprises, data centers, and cloud computing businesses.

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

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