Marvell Technology Group Ltd. (NASDAQ:MRVL) – Equities research analysts at B. Riley dropped their FY2019 EPS estimates for Marvell Technology Group in a report issued on Thursday, February 7th. B. Riley analyst C. Ellis now expects that the semiconductor company will earn $0.85 per share for the year, down from their prior forecast of $0.92.

A number of other equities research analysts have also commented on the company. Zacks Investment Research lowered Marvell Technology Group from a “buy” rating to a “hold” rating in a research report on Monday. Craig Hallum lowered Marvell Technology Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 7th. BidaskClub raised Marvell Technology Group from a “sell” rating to a “hold” rating in a research note on Tuesday, January 29th. Needham & Company LLC reissued a “buy” rating and issued a $25.00 price objective on shares of Marvell Technology Group in a research note on Monday, January 14th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $26.00 price objective on shares of Marvell Technology Group in a research note on Thursday, January 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $24.86.

NASDAQ MRVL opened at $19.05 on Monday. Marvell Technology Group has a 12 month low of $14.34 and a 12 month high of $25.18. The stock has a market capitalization of $12.09 billion, a price-to-earnings ratio of 18.32, a P/E/G ratio of 1.70 and a beta of 0.98. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.74 and a current ratio of 2.32.

Marvell Technology Group (NASDAQ:MRVL) last released its quarterly earnings results on Tuesday, December 4th. The semiconductor company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. Marvell Technology Group had a return on equity of 9.45% and a net margin of 4.76%. The firm had revenue of $851.05 million for the quarter, compared to analyst estimates of $844.07 million. During the same quarter in the previous year, the company posted $0.34 EPS. The business’s revenue was up 38.1% on a year-over-year basis.

Hedge funds have recently bought and sold shares of the stock. FMR LLC raised its stake in Marvell Technology Group by 5.1% during the 2nd quarter. FMR LLC now owns 55,789,566 shares of the semiconductor company’s stock worth $1,196,128,000 after buying an additional 2,685,377 shares during the period. Sterling Investment Advisors Ltd. raised its stake in Marvell Technology Group by 100.0% during the 4th quarter. Sterling Investment Advisors Ltd. now owns 6,000 shares of the semiconductor company’s stock worth $97,000 after buying an additional 3,000 shares during the period. Jennison Associates LLC raised its stake in Marvell Technology Group by 47.4% during the 3rd quarter. Jennison Associates LLC now owns 7,611,736 shares of the semiconductor company’s stock worth $146,907,000 after buying an additional 2,449,407 shares during the period. Starboard Value LP raised its stake in Marvell Technology Group by 1.7% during the 3rd quarter. Starboard Value LP now owns 34,289,997 shares of the semiconductor company’s stock worth $661,797,000 after buying an additional 569,211 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Marvell Technology Group in the third quarter worth approximately $250,000. 95.29% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director Syed Ali sold 442,000 shares of the company’s stock in a transaction that occurred on Friday, January 11th. The stock was sold at an average price of $17.14, for a total transaction of $7,575,880.00. Following the transaction, the director now directly owns 4,950,515 shares of the company’s stock, valued at approximately $84,851,827.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Jean X. Hu purchased 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 26th. The shares were purchased at an average cost of $14.67 per share, for a total transaction of $220,050.00. Following the completion of the purchase, the chief financial officer now owns 51,077 shares in the company, valued at approximately $749,299.59. The disclosure for this purchase can be found here. 0.10% of the stock is owned by insiders.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 15th. Stockholders of record on Wednesday, December 26th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date was Monday, December 24th. Marvell Technology Group’s dividend payout ratio is 23.08%.

Marvell Technology Group announced that its Board of Directors has approved a stock repurchase program on Tuesday, October 16th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the semiconductor company to purchase up to 7.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

About Marvell Technology Group

Marvell Technology Group Ltd. engages in the business of providing semiconductors to high-performance application-specific standard products. It focuses on the development of complex System-on-a-Chip devices leveraging extensive technology portfolio of intellectual property in the areas of analog, mixed-signal, digital signal processing, and embedded and stand alone integrated circuits.

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