Marvell Technology Group Ltd. (NASDAQ:MRVL) Receives Average Rating of “Buy” from Brokerages

Shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) have been given an average rating of “Buy” by the twenty-eight analysts that are currently covering the firm, MarketBeat reports. Six research analysts have rated the stock with a hold rating and twenty have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $26.07.

MRVL has been the subject of several research analyst reports. Needham & Company LLC restated a “buy” rating and issued a $23.00 price objective on shares of Marvell Technology Group in a report on Friday, March 8th. Zacks Investment Research lowered Marvell Technology Group from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 13th. Cowen restated an “outperform” rating and issued a $22.00 price objective (up previously from $21.00) on shares of Marvell Technology Group in a report on Monday, March 18th. ValuEngine upgraded Marvell Technology Group from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Finally, BidaskClub upgraded Marvell Technology Group from a “hold” rating to a “buy” rating in a report on Wednesday, April 10th.

MRVL traded up $0.48 during trading on Friday, reaching $23.89. 247,845 shares of the company were exchanged, compared to its average volume of 10,544,794. The firm has a market capitalization of $15.73 billion, a PE ratio of 28.16, a P/E/G ratio of 7.54 and a beta of 1.17. The business’s 50 day moving average price is $23.19. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.67 and a current ratio of 2.07. Marvell Technology Group has a 52 week low of $14.34 and a 52 week high of $25.74.



Marvell Technology Group (NASDAQ:MRVL) last released its quarterly earnings results on Thursday, May 30th. The semiconductor company reported $0.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.02. Marvell Technology Group had a positive return on equity of 5.88% and a negative net margin of 12.18%. The company had revenue of $662.00 million during the quarter, compared to analysts’ expectations of $651.07 million. During the same quarter in the prior year, the business posted $0.32 earnings per share. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. On average, analysts forecast that Marvell Technology Group will post 0.43 earnings per share for the current year.

In related news, CAO Willem A. Meintjes sold 28,057 shares of the company’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $24.32, for a total transaction of $682,346.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Mitchell Gaynor sold 10,000 shares of the company’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $23.64, for a total value of $236,400.00. Following the transaction, the executive vice president now directly owns 25,576 shares in the company, valued at $604,616.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 58,057 shares of company stock valued at $1,395,446. 1.10% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the stock. Quadrant Capital Group LLC raised its position in Marvell Technology Group by 1,266.3% during 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. Massey Quick Simon & CO. LLC acquired a new position in Marvell Technology Group during the first quarter valued at $59,000. AlphaOne Investment Services LLC raised its position in Marvell Technology Group by 339.4% during 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. YorkBridge Wealth Partners LLC acquired a new position in Marvell Technology Group during the first quarter valued at $68,000. Finally, Penserra Capital Management LLC raised its position in Marvell Technology Group by 580.7% during the fourth quarter. Penserra Capital Management LLC now owns 6,126 shares of the semiconductor company’s stock valued at $98,000 after buying an additional 5,226 shares during the period.

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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