Marvell Technology Group Ltd. (MRVL) Expected to Announce Earnings of $0.32 Per Share

Equities analysts expect Marvell Technology Group Ltd. (NASDAQ:MRVL) to announce earnings per share (EPS) of $0.32 for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Marvell Technology Group’s earnings, with the highest EPS estimate coming in at $0.33 and the lowest estimate coming in at $0.32. Marvell Technology Group posted earnings per share of $0.34 in the same quarter last year, which suggests a negative year over year growth rate of 5.9%. The firm is expected to issue its next earnings report on Tuesday, November 27th.

According to Zacks, analysts expect that Marvell Technology Group will report full-year earnings of $1.25 per share for the current fiscal year, with EPS estimates ranging from $1.22 to $1.31. For the next year, analysts expect that the business will report earnings of $1.55 per share, with EPS estimates ranging from $1.50 to $1.61. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for Marvell Technology Group.

Marvell Technology Group (NASDAQ:MRVL) last posted its quarterly earnings data on Thursday, September 6th. The semiconductor company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.01). The firm had revenue of $665.31 million for the quarter, compared to analysts’ expectations of $685.00 million. Marvell Technology Group had a return on equity of 10.70% and a net margin of 15.36%. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.30 earnings per share.

Several research firms have commented on MRVL. Stifel Nicolaus raised shares of Marvell Technology Group from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research note on Friday. B. Riley decreased their target price on Marvell Technology Group from $30.00 to $26.00 and set a “buy” rating for the company in a research report on Wednesday. BidaskClub upgraded Marvell Technology Group from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 29th. Goldman Sachs Group started coverage on Marvell Technology Group in a research report on Tuesday, September 18th. They set a “buy” rating and a $23.00 target price for the company. Finally, Citigroup decreased their target price on Marvell Technology Group from $23.00 to $20.00 and set a “neutral” rating for the company in a research report on Friday, September 14th. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-two have assigned a buy rating to the company. Marvell Technology Group has an average rating of “Buy” and an average price target of $25.77.

NASDAQ MRVL traded up $0.29 on Friday, hitting $18.01. 12,997,398 shares of the stock were exchanged, compared to its average volume of 9,366,493. The company has a quick ratio of 1.76, a current ratio of 2.54 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $12.71 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 2.31 and a beta of 0.96. Marvell Technology Group has a 52-week low of $17.18 and a 52-week high of $25.18.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 23rd. Investors of record on Tuesday, October 2nd will be issued a $0.06 dividend. The ex-dividend date is Monday, October 1st. This represents a $0.24 annualized dividend and a dividend yield of 1.33%. Marvell Technology Group’s payout ratio is currently 23.08%.

In related news, CEO Matthew J. Murphy sold 10,000 shares of Marvell Technology Group stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $20.64, for a total value of $206,400.00. Following the completion of the sale, the chief executive officer now directly owns 1,755 shares in the company, valued at $36,223.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.10% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in MRVL. Commonwealth Equity Services LLC raised its holdings in shares of Marvell Technology Group by 9.3% in the first quarter. Commonwealth Equity Services LLC now owns 32,691 shares of the semiconductor company’s stock valued at $686,000 after acquiring an additional 2,783 shares in the last quarter. Achmea Investment Management B.V. raised its holdings in shares of Marvell Technology Group by 103.3% in the first quarter. Achmea Investment Management B.V. now owns 61,540 shares of the semiconductor company’s stock valued at $1,292,000 after acquiring an additional 31,274 shares in the last quarter. Element Capital Management LLC bought a new stake in shares of Marvell Technology Group in the first quarter valued at about $862,000. Guggenheim Capital LLC raised its holdings in shares of Marvell Technology Group by 39.2% in the first quarter. Guggenheim Capital LLC now owns 113,769 shares of the semiconductor company’s stock valued at $2,389,000 after acquiring an additional 32,060 shares in the last quarter. Finally, Cubist Systematic Strategies LLC raised its holdings in shares of Marvell Technology Group by 93.7% in the first quarter. Cubist Systematic Strategies LLC now owns 164,110 shares of the semiconductor company’s stock valued at $3,446,000 after acquiring an additional 79,400 shares in the last quarter. Hedge funds and other institutional investors own 81.56% of the company’s stock.

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 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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