Marvell Technology Group (MRVL) Stock Rating Lowered by BidaskClub

BidaskClub cut shares of Marvell Technology Group (NASDAQ:MRVL) from a strong-buy rating to a buy rating in a report issued on Tuesday morning, BidAskClub reports.

Several other brokerages have also recently weighed in on MRVL. UBS Group increased their price target on Marvell Technology Group from $22.00 to $29.00 and gave the company a buy rating in a research note on Wednesday, April 24th. Bank of America upped their target price on Marvell Technology Group from $24.00 to $28.00 and gave the company a buy rating in a research 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 company an overweight rating in a research report on Friday, May 3rd. BMO Capital Markets upped their target price on Marvell Technology Group to $28.00 and gave the company an outperform rating in a research report on Tuesday, May 7th. Finally, Citigroup upped their target price on Marvell Technology Group from $22.00 to $28.00 and gave the company a buy rating in a research report on Wednesday, April 17th. Three equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Marvell Technology Group has a consensus rating of Buy and an average target price of $25.62.

Shares of MRVL stock opened at $22.89 on Tuesday. The stock has a market capitalization of $14.59 billion, a PE ratio of 26.93, a P/E/G ratio of 4.01 and a beta of 1.11. 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 1-year low of $14.34 and a 1-year high of $25.74.

Marvell Technology Group (NASDAQ:MRVL) last issued its quarterly earnings results 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). The company had revenue of $744.80 million during the quarter, compared to analyst estimates of $739.88 million. Marvell Technology Group had a negative net margin of 6.25% and a positive return on equity of 7.95%. During the same period in the previous year, the company posted $0.32 EPS. As a group, research analysts predict that Marvell Technology Group will post 0.63 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Wednesday, April 3rd were issued a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, April 2nd. This represents a $0.24 annualized dividend and a yield of 1.05%. Marvell Technology Group’s payout ratio is currently 28.24%.

In other Marvell Technology Group 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 value of $236,400.00. Following the transaction, the executive vice president now owns 25,576 shares in the company, valued at $604,616.64. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.10% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in the business. Marshall Wace LLP lifted its holdings in shares of Marvell Technology Group by 168.4% in the first quarter. Marshall Wace LLP now owns 87,259 shares of the semiconductor company’s stock valued at $1,736,000 after purchasing an additional 54,750 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Marvell Technology Group by 5.4% during the first quarter. Geode Capital Management LLC now owns 6,295,374 shares of the semiconductor company’s stock valued at $125,121,000 after acquiring an additional 321,373 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Marvell Technology Group by 7.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,689,980 shares of the semiconductor company’s stock valued at $53,504,000 after acquiring an additional 175,057 shares during the last quarter. J. Goldman & Co LP purchased a new stake in shares of Marvell Technology Group during the first quarter valued at approximately $2,967,000. Finally, Blair William & Co. IL increased its position in shares of Marvell Technology Group by 7.2% during the first quarter. Blair William & Co. IL now owns 259,481 shares of the semiconductor company’s stock valued at $5,161,000 after acquiring an additional 17,350 shares during the last quarter. Institutional investors and hedge funds own 97.26% of the company’s stock.

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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Analyst Recommendations for Marvell Technology Group (NASDAQ:MRVL)

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