A number of other equities research analysts have also weighed in on MRVL. Raymond James set a C$2.25 price target on shares of Integra Resources and gave the company an outperform rating in a report on Wednesday, June 19th. TheStreet raised shares of Marvell Technology Group from a c+ rating to a b- rating in a report on Wednesday, July 3rd. Cowen reissued a buy rating on shares of ImmunoGen in a report on Thursday, June 27th. ValuEngine raised shares of Vale from a sell rating to a hold rating in a report on Tuesday, July 16th. Finally, B. Riley set a $18.00 price objective on shares of TiVo and gave the stock a buy rating in a report on Friday, May 31st. Six equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. Marvell Technology Group currently has a consensus rating of Buy and an average target price of $26.00.
MRVL opened at $25.92 on Thursday. The company’s fifty day moving average price is $24.23. The firm has a market cap of $17.14 billion, a price-to-earnings ratio of 30.49, a price-to-earnings-growth ratio of 8.31 and a beta of 1.17. Marvell Technology Group has a twelve month low of $14.34 and a twelve month high of $26.65. 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 (NASDAQ:MRVL) last released its quarterly earnings results on Thursday, May 30th. The semiconductor company reported $0.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.02. The business had revenue of $662.00 million during the quarter, compared to analyst estimates of $651.07 million. Marvell Technology Group had a negative net margin of 12.18% and a positive return on equity of 5.88%. The business’s revenue was up 9.5% on a year-over-year basis. During the same period last year, the business earned $0.32 EPS. Analysts forecast that Marvell Technology Group will post 0.43 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, July 12th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Thursday, July 11th. Marvell Technology Group’s dividend payout ratio (DPR) is presently 28.24%.
In other news, CEO Matthew J. Murphy sold 265,000 shares of Marvell Technology Group stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $26.02, for a total value of $6,895,300.00. Following the completion of the transaction, the chief executive officer now directly owns 1,755 shares of the company’s stock, valued at approximately $45,665.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Willem A. Meintjes sold 28,057 shares of Marvell Technology Group stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $24.32, for a total transaction of $682,346.24. The disclosure for this sale can be found here. Insiders sold a total of 323,057 shares of company stock valued at $8,299,646 over the last ninety days. Company insiders own 1.10% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of MRVL. FMR LLC boosted its holdings in shares of Marvell Technology Group by 48.1% in the 4th quarter. FMR LLC now owns 80,824,523 shares of the semiconductor company’s stock valued at $1,308,549,000 after buying an additional 26,251,979 shares during the period. BlackRock Inc. lifted its position in Marvell Technology Group by 29.1% in the 1st quarter. BlackRock Inc. now owns 46,081,466 shares of the semiconductor company’s stock valued at $916,559,000 after purchasing an additional 10,388,875 shares during the last quarter. FIL Ltd lifted its position in Marvell Technology Group by 117.7% in the 1st quarter. FIL Ltd now owns 10,543,241 shares of the semiconductor company’s stock valued at $209,705,000 after purchasing an additional 5,700,711 shares during the last quarter. Norges Bank bought a new stake in Marvell Technology Group in the 4th quarter valued at about $90,449,000. Finally, JPMorgan Chase & Co. lifted its position in Marvell Technology Group by 62.7% in the 1st quarter. JPMorgan Chase & Co. now owns 10,742,547 shares of the semiconductor company’s stock valued at $213,670,000 after purchasing an additional 4,138,462 shares during the last quarter.
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 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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