Marvell Technology Group Ltd. (NASDAQ:MRVL) has been given an average recommendation of “Buy” by the twenty-four analysts that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and seventeen have issued a buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $24.44.

A number of equities analysts recently commented on MRVL shares. Benchmark decreased their target price on Marvell Technology Group to $30.00 in a report on Sunday, December 2nd. Stifel Nicolaus raised Marvell Technology Group from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Friday, October 12th. B. Riley decreased their target price on Marvell Technology Group from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, October 10th. Goldman Sachs Group started coverage on Marvell Technology Group in a report on Tuesday, September 18th. They issued a “buy” rating and a $23.00 target price on the stock. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $27.00 target price on shares of Marvell Technology Group in a report on Sunday, September 9th.

Marvell Technology Group stock traded down $0.65 during trading on Monday, reaching $15.44. The company had a trading volume of 10,756,624 shares, compared to its average volume of 9,551,238. Marvell Technology Group has a 52 week low of $14.69 and a 52 week high of $25.18. The stock has a market cap of $10.59 billion, a P/E ratio of 14.85, a P/E/G ratio of 1.99 and a beta of 1.01. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.76 and a current ratio of 2.54.

Marvell Technology Group (NASDAQ:MRVL) last announced its earnings results on Tuesday, December 4th. The semiconductor company reported $0.33 EPS for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.01. Marvell Technology Group had a return on equity of 10.43% and a net margin of 4.76%. The company had revenue of $851.05 million for the quarter, compared to analysts’ expectations of $844.07 million. During the same period last year, the firm earned $0.34 EPS. Marvell Technology Group’s revenue for the quarter was up 38.1% compared to the same quarter last year. Analysts predict that Marvell Technology Group will post 0.86 EPS for the current year.

Marvell Technology Group announced that its board has approved a share buyback plan on Tuesday, October 16th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to purchase up to 7.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Large investors have recently bought and sold shares of the business. FMR LLC raised its holdings in Marvell Technology Group by 5.1% during the second quarter. FMR LLC now owns 55,789,566 shares of the semiconductor company’s stock valued at $1,196,128,000 after acquiring an additional 2,685,377 shares during the period. BlackRock Inc. grew its position in shares of Marvell Technology Group by 1.5% during the second quarter. BlackRock Inc. now owns 24,191,921 shares of the semiconductor company’s stock valued at $518,672,000 after purchasing an additional 358,921 shares in the last quarter. Swiss National Bank grew its position in shares of Marvell Technology Group by 17.0% during the second quarter. Swiss National Bank now owns 1,474,872 shares of the semiconductor company’s stock valued at $31,621,000 after purchasing an additional 214,300 shares in the last quarter. Jennison Associates LLC grew its position in shares of Marvell Technology Group by 47.4% during the third quarter. Jennison Associates LLC now owns 7,611,736 shares of the semiconductor company’s stock valued at $146,907,000 after purchasing an additional 2,449,407 shares in the last quarter. Finally, Stevens Capital Management LP purchased a new position in shares of Marvell Technology Group during the second quarter valued at about $1,608,000. 95.31% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Marvell Technology Group (NASDAQ:MRVL)

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