Susquehanna Bancshares Reiterates Buy Rating for Marvell Technology Group (NASDAQ:MRVL)

Susquehanna Bancshares reaffirmed their buy rating on shares of Marvell Technology Group (NASDAQ:MRVL) in a research report released on Monday morning, Stock Target Advisor reports. They currently have a $28.00 price objective on the semiconductor company’s stock.

Several other equities research analysts have also recently issued reports on MRVL. B. Riley set a $28.00 price objective on shares of Marvell Technology Group and gave the stock a buy rating in a research report on Monday, August 26th. Cowen set a $27.00 target price on Marvell Technology Group and gave the company an outperform rating in a report on Monday, August 26th. Rosenblatt Securities restated a buy rating and issued a $28.00 price target on shares of Marvell Technology Group in a research note on Tuesday, November 26th. Piper Jaffray Companies set a $30.00 price target on Marvell Technology Group and gave the stock a buy rating in a report on Friday, August 30th. Finally, UBS Group set a $29.00 price objective on Marvell Technology Group and gave the stock a buy rating in a research report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have issued a buy rating to the company’s stock. Marvell Technology Group presently has a consensus rating of Buy and an average price target of $28.04.

MRVL stock opened at $23.45 on Monday. The company’s 50 day moving average price is $25.66 and its 200 day moving average price is $24.74. The firm has a market capitalization of $17.59 billion, a price-to-earnings ratio of 27.59, a PEG ratio of 12.69 and a beta of 1.19. Marvell Technology Group has a fifty-two week low of $14.34 and a fifty-two week high of $28.38. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.68 and a current ratio of 3.06.

Marvell Technology Group (NASDAQ:MRVL) last issued its quarterly earnings results on Tuesday, December 3rd. The semiconductor company reported $0.17 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.17. Marvell Technology Group had a negative net margin of 14.42% and a positive return on equity of 5.25%. The company had revenue of $662.00 million during the quarter, compared to the consensus estimate of $660.94 million. During the same quarter in the previous year, the firm earned $0.33 earnings per share. The firm’s quarterly revenue was down 22.2% on a year-over-year basis. Equities analysts forecast that Marvell Technology Group will post 0.34 EPS for the current fiscal year.

In related news, CEO Matthew J. Murphy sold 100,000 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $28.00, for a total transaction of $2,800,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jean X. Hu sold 10,000 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $26.86, for a total transaction of $268,600.00. Insiders have sold a total of 315,933 shares of company stock worth $8,334,532 in the last 90 days. 1.10% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in MRVL. Millennium Management LLC increased its position in Marvell Technology Group by 276.3% in the 3rd quarter. Millennium Management LLC now owns 1,573,314 shares of the semiconductor company’s stock valued at $39,285,000 after acquiring an additional 1,155,172 shares during the period. Man Group plc purchased a new position in shares of Marvell Technology Group in the 3rd quarter valued at approximately $2,477,000. Raine Capital LLC increased its holdings in shares of Marvell Technology Group by 37.5% in the third quarter. Raine Capital LLC now owns 275,000 shares of the semiconductor company’s stock valued at $6,866,000 after purchasing an additional 75,000 shares during the period. Voloridge Investment Management LLC acquired a new position in shares of Marvell Technology Group in the third quarter valued at approximately $9,081,000. Finally, Worldquant Millennium Advisors LLC purchased a new stake in shares of Marvell Technology Group during the third quarter worth approximately $17,649,000. 96.38% of the stock is owned by institutional investors and hedge funds.

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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