BidaskClub Lowers Marvell Technology Group Ltd. (MRVL) to Hold

BidaskClub lowered shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.

A number of other analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Marvell Technology Group from a buy rating to a hold rating in a report on Wednesday, May 3rd. Needham & Company LLC restated a buy rating and set a $21.00 price target on shares of Marvell Technology Group in a report on Tuesday, April 18th. B. Riley restated a buy rating and set a $21.00 price target on shares of Marvell Technology Group in a report on Thursday, March 23rd. Vetr upgraded shares of Marvell Technology Group from a buy rating to a strong-buy rating and set a $18.47 price target for the company in a report on Monday, March 13th. Finally, TheStreet upgraded shares of Marvell Technology Group from a c rating to a b rating in a report on Thursday, May 25th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $17.93.

Shares of Marvell Technology Group (NASDAQ MRVL) traded down 0.899% on Wednesday, hitting $15.985. The company’s stock had a trading volume of 4,345,927 shares. The stock has a 50-day moving average price of $17.03 and a 200 day moving average price of $15.63. Marvell Technology Group has a one year low of $9.68 and a one year high of $18.18. The firm has a market cap of $8.03 billion, a price-to-earnings ratio of 54.003 and a beta of 1.11.

Marvell Technology Group (NASDAQ:MRVL) last announced its quarterly earnings results on Thursday, May 25th. The semiconductor company reported $0.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.04. The business had revenue of $579.18 million during the quarter, compared to the consensus estimate of $570.72 million. Marvell Technology Group had a net margin of 6.19% and a return on equity of 7.96%. The business’s revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.01 EPS. Equities research analysts predict that Marvell Technology Group will post $1.10 EPS for the current year.

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The business also recently declared a quarterly dividend, which will be paid on Friday, July 21st. Investors of record on Wednesday, July 5th will be paid a dividend of $0.06 per share. The ex-dividend date is Friday, June 30th. This represents a $0.24 annualized dividend and a yield of 1.49%. Marvell Technology Group’s dividend payout ratio is currently 82.76%.

A number of large investors have recently made changes to their positions in MRVL. Profund Advisors LLC raised its stake in shares of Marvell Technology Group by 19.1% in the first quarter. Profund Advisors LLC now owns 80,048 shares of the semiconductor company’s stock valued at $1,222,000 after buying an additional 12,821 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Marvell Technology Group by 136.8% in the first quarter. First Trust Advisors LP now owns 364,273 shares of the semiconductor company’s stock valued at $5,559,000 after buying an additional 210,421 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its stake in shares of Marvell Technology Group by 18.2% in the first quarter. Dynamic Technology Lab Private Ltd now owns 20,203 shares of the semiconductor company’s stock valued at $309,000 after buying an additional 3,106 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Marvell Technology Group by 454.8% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,777 shares of the semiconductor company’s stock valued at $122,000 after buying an additional 7,195 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Marvell Technology Group by 7.7% in the fourth quarter. Franklin Resources Inc. now owns 14,079 shares of the semiconductor company’s stock valued at $195,000 after buying an additional 1,006 shares in the last quarter. Hedge funds and other institutional investors own 74.09% of the company’s stock.

About Marvell Technology Group

Marvell Technology Group Ltd. is a semiconductor provider of application-specific standard products. The Company is engaged in the design, development and sale of integrated circuits. The Company develops System-on-a-Chip (SoC) devices. It also develops integrated hardware platforms along with software that incorporates digital computing technologies designed and configured to provide an optimized computing solution.

Analyst Recommendations for Marvell Technology Group (NASDAQ:MRVL)

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