Marvell Technology Group (NASDAQ:MRVL) Price Target Increased to $21.00 by Analysts at Stifel Nicolaus

Marvell Technology Group (NASDAQ:MRVL) had its price target increased by Stifel Nicolaus from $19.00 to $21.00 in a research report sent to investors on Friday, March 9th. Stifel Nicolaus currently has a hold rating on the semiconductor company’s stock.

A number of other analysts have also commented on MRVL. Bank of America upgraded Marvell Technology Group from a neutral rating to a buy rating in a research report on Monday, November 20th. Benchmark upgraded Marvell Technology Group from a hold rating to a buy rating and lifted their price objective for the stock from $17.00 to $30.00 in a research report on Monday, November 20th. B. Riley reiterated a buy rating and issued a $24.00 price objective on shares of Marvell Technology Group in a research report on Monday, November 20th. Barclays upgraded Marvell Technology Group from an equal weight rating to an overweight rating and lifted their price objective for the stock from $20.00 to $30.00 in a research report on Tuesday, November 21st. Finally, Jefferies Group upgraded Marvell Technology Group from a hold rating to a buy rating and set a $18.50 price objective for the company in a research report on Tuesday, November 21st. Seven investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $25.45.

Shares of NASDAQ:MRVL traded down $0.80 during midday trading on Friday, reaching $20.20. The company’s stock had a trading volume of 6,992,788 shares, compared to its average volume of 8,880,460. Marvell Technology Group has a fifty-two week low of $14.58 and a fifty-two week high of $25.18. The firm has a market cap of $10,426.50, a PE ratio of 19.42, a price-to-earnings-growth ratio of 1.61 and a beta of 0.97.

Marvell Technology Group (NASDAQ:MRVL) last announced its earnings results on Thursday, March 8th. The semiconductor company reported $0.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.01. Marvell Technology Group had a return on equity of 13.25% and a net margin of 21.56%. The company had revenue of $615.40 million during the quarter, compared to analyst estimates of $610.99 million. During the same period last year, the company posted $0.22 earnings per share. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. analysts predict that Marvell Technology Group will post 1.16 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 18th. Stockholders of record on Thursday, March 29th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.19%. The ex-dividend date is Wednesday, March 28th. Marvell Technology Group’s dividend payout ratio (DPR) is presently 23.08%.

In other news, insider Marvell Semiconductor, Inc. Ca sold 1,512 shares of Marvell Technology Group stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $23.86, for a total transaction of $36,076.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Michael G. Strachan sold 20,000 shares of Marvell Technology Group stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $23.65, for a total value of $473,000.00. Following the transaction, the director now owns 19,702 shares in the company, valued at approximately $465,952.30. The disclosure for this sale can be found here. Insiders have sold a total of 51,512 shares of company stock worth $1,236,276 in the last quarter. 6.80% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in Marvell Technology Group by 3.2% in the 4th quarter. BlackRock Inc. now owns 23,774,459 shares of the semiconductor company’s stock valued at $510,438,000 after buying an additional 728,318 shares during the last quarter. Boston Partners raised its position in Marvell Technology Group by 3.4% in the 4th quarter. Boston Partners now owns 12,619,465 shares of the semiconductor company’s stock valued at $270,940,000 after buying an additional 413,878 shares during the last quarter. JPMorgan Chase & Co. raised its position in Marvell Technology Group by 9.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 9,581,295 shares of the semiconductor company’s stock valued at $172,175,000 after buying an additional 830,797 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in Marvell Technology Group by 12.5% in the 4th quarter. UBS Asset Management Americas Inc. now owns 6,755,914 shares of the semiconductor company’s stock valued at $145,049,000 after buying an additional 750,734 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in Marvell Technology Group by 11.4% in the 4th quarter. Renaissance Technologies LLC now owns 6,605,844 shares of the semiconductor company’s stock valued at $141,827,000 after buying an additional 673,369 shares during the last quarter. Institutional investors and hedge funds own 91.67% of the company’s stock.

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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, such as hard disk drive (HDD) and solid-state drive controllers, as well as HDD components, such as HDD preamps components; and develops software enabled silicon solutions consisting of serial advanced technology attachment port multipliers, bridges, serial attached SCSI, and non-volatile memory express redundant array of independent disks controllers and converged storage processors for enterprise, data centers, and cloud computing businesses.

Analyst Recommendations for Marvell Technology Group (NASDAQ:MRVL)

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