Marvell Technology Group (NASDAQ:MRVL) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Monday, BidAskClub reports.

A number of other equities analysts have also recently issued reports on MRVL. Zacks Investment Research raised Marvell Technology Group from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. Wells Fargo & Co began coverage on Marvell Technology Group in a report on Tuesday, May 14th. They issued a “market perform” rating and a $24.00 target price for the company. Bank of America upped their target price on Marvell Technology Group from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Piper Jaffray Companies upped their target price on Marvell Technology Group from $22.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Finally, Cowen reaffirmed an “outperform” rating and issued a $22.00 target price (up previously from $21.00) on shares of Marvell Technology Group in a report on Monday, March 18th. Four analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Marvell Technology Group presently has an average rating of “Buy” and a consensus price target of $25.55.

Shares of MRVL stock traded down $0.88 on Monday, hitting $21.74. 17,033,013 shares of the company’s stock were exchanged, compared to its average volume of 12,547,148. The company has a quick ratio of 1.76, a current ratio of 2.19 and a debt-to-equity ratio of 0.24. Marvell Technology Group has a 12 month low of $14.34 and a 12 month high of $25.74. The company has a market cap of $14.91 billion, a P/E ratio of 25.58, a P/E/G ratio of 4.11 and a beta of 1.11.

Marvell Technology Group (NASDAQ:MRVL) last announced its quarterly earnings data on Thursday, March 7th. The semiconductor company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.02). Marvell Technology Group had a positive return on equity of 7.95% and a negative net margin of 6.25%. The business had revenue of $744.80 million for the quarter, compared to the consensus estimate of $739.88 million. During the same quarter in the prior year, the company earned $0.32 earnings per share. As a group, equities research analysts anticipate that Marvell Technology Group will post 0.63 earnings per share for the current fiscal year.

In other news, EVP Mitchell Gaynor sold 10,000 shares of the stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $23.64, for a total value of $236,400.00. Following the completion of the sale, the executive vice president now owns 25,576 shares of the company’s stock, valued at $604,616.64. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.10% of the company’s stock.

Several hedge funds have recently modified their holdings of MRVL. Loeb Partners Corp acquired a new stake in shares of Marvell Technology Group in the fourth quarter valued at about $44,000. Cresset Asset Management LLC acquired a new stake in shares of Marvell Technology Group in the first quarter valued at about $50,000. Quadrant Capital Group LLC increased its stake in shares of Marvell Technology Group by 1,266.3% in the first quarter. Quadrant Capital Group LLC now owns 2,678 shares of the semiconductor company’s stock valued at $51,000 after buying an additional 2,482 shares during the period. Tyers Asset Management LLC acquired a new stake in shares of Marvell Technology Group in the first quarter valued at about $53,000. Finally, AlphaOne Investment Services LLC increased its stake in shares of Marvell Technology Group by 339.4% in the fourth quarter. AlphaOne Investment Services LLC now owns 3,344 shares of the semiconductor company’s stock valued at $54,000 after buying an additional 2,583 shares during the period. 97.26% of the stock is owned by institutional investors.

About Marvell Technology Group

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 preamplifiers; supports a variety of host system interfaces consisting of serial attached SCSI (SAS), serial advanced technology attachment (SATA), peripheral component interconnect express, and non-volatile memory express; and develops software-enabled silicon solutions comprising SATA port multipliers, bridges, SATA, SAS, and non-volatile memory express redundant array of independent disks controllers and converged storage processors for enterprises, data centers, and cloud computing businesses.

Featured Story: Calculate Your Return on Investment (ROI)

Analyst Recommendations for Marvell Technology Group (NASDAQ:MRVL)

Receive News & Ratings for Marvell Technology Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marvell Technology Group and related companies with MarketBeat.com's FREE daily email newsletter.