Wall Street analysts expect Marvell Technology Group Ltd. (NASDAQ:MRVL) to announce $0.19 earnings per share for the current quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Marvell Technology Group’s earnings, with the highest EPS estimate coming in at $0.21 and the lowest estimate coming in at $0.15. Marvell Technology Group reported earnings per share of $0.28 during the same quarter last year, which would suggest a negative year-over-year growth rate of 32.1%. The company is expected to announce its next quarterly earnings report on Thursday, September 5th.

According to Zacks, analysts expect that Marvell Technology Group will report full-year earnings of $0.90 per share for the current fiscal year, with EPS estimates ranging from $0.78 to $0.98. For the next financial year, analysts forecast that the business will post earnings of $1.45 per share, with EPS estimates ranging from $1.32 to $1.56. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Marvell Technology Group.

Marvell Technology Group (NASDAQ:MRVL) last announced its quarterly earnings results on Thursday, May 30th. The semiconductor company reported $0.16 EPS for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.02. The business had revenue of $662.00 million for the quarter, compared to analysts’ expectations of $651.07 million. Marvell Technology Group had a positive return on equity of 5.83% and a negative net margin of 12.18%. The business’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.32 EPS.

Several research firms recently weighed in on MRVL. BidaskClub upgraded Marvell Technology Group from a “hold” rating to a “buy” rating in a research report on Wednesday, April 10th. Bank of America boosted 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 boosted 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. MKM Partners upped their price target on Marvell Technology Group from $25.00 to $28.00 and gave the company a “buy” rating in a report on Friday. Finally, JPMorgan Chase & Co. upped their price target on Marvell Technology Group from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Friday. Five investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Marvell Technology Group has an average rating of “Buy” and a consensus price target of $25.67.

In related news, EVP Mitchell Gaynor sold 10,000 shares of the stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $23.64, for a total transaction of $236,400.00. Following the completion of the transaction, the executive vice president now directly owns 25,576 shares of the company’s stock, valued at $604,616.64. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.10% of the company’s stock.

Several large investors have recently bought and sold shares of MRVL. Utah Retirement Systems boosted its position in shares of Marvell Technology Group by 0.6% in the 4th quarter. Utah Retirement Systems now owns 102,116 shares of the semiconductor company’s stock worth $1,653,000 after purchasing an additional 600 shares in the last quarter. Montag & Caldwell LLC lifted its holdings in shares of Marvell Technology Group by 4.3% in the 1st quarter. Montag & Caldwell LLC now owns 20,250 shares of the semiconductor company’s stock valued at $403,000 after buying an additional 837 shares during the period. Wilbanks Smith & Thomas Asset Management LLC lifted its holdings in shares of Marvell Technology Group by 3.4% in the 1st quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 35,510 shares of the semiconductor company’s stock valued at $706,000 after buying an additional 1,161 shares during the period. Daiwa Securities Group Inc. lifted its holdings in shares of Marvell Technology Group by 5.5% in the 4th quarter. Daiwa Securities Group Inc. now owns 23,024 shares of the semiconductor company’s stock valued at $373,000 after buying an additional 1,200 shares during the period. Finally, Prudential Financial Inc. lifted its holdings in shares of Marvell Technology Group by 3.5% in the 4th quarter. Prudential Financial Inc. now owns 38,351 shares of the semiconductor company’s stock valued at $621,000 after buying an additional 1,290 shares during the period.

MRVL opened at $22.35 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.76 and a current ratio of 2.19. Marvell Technology Group has a 52-week low of $14.34 and a 52-week high of $25.74. The company has a market cap of $14.75 billion, a PE ratio of 33.28, a price-to-earnings-growth ratio of 5.21 and a beta of 1.17.

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 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.

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