Research Analysts’ Recent Ratings Changes for Marvell Technology Group (MRVL)

Several brokerages have updated their recommendations and price targets on shares of Marvell Technology Group (NASDAQ: MRVL) in the last few weeks:

  • 10/11/2019 – Marvell Technology Group was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. They now have a $25.00 price target on the stock. According to Zacks, “Marvell is benefiting from strong growth in networking business. Demand stemming from HDD, SSD and fiber channel end markets positively impacted storage revenues. The company’s recent acquisitions of Avera and Aquantia are expected to boost its Ethernet and PHY businesses. Further, Marvell divested its Wi-Fi business to NXP Semiconductors recently, which will help it focus on other high growth areas. However, increasing operational expenses were headwinds. The Huawei ban and negligible demand from base station OEMs that are currently migrating 4G to 5G were overhangs. Further, export restriction and CPU shortages are expected to keep storage revenues under pressure. Seasonal decline in Wi-Fi revenues is also expected to be an overhang in the near term. Shares have underperformed the industry on a year to date basis.”
  • 10/11/2019 – Marvell Technology Group was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 10/4/2019 – Marvell Technology Group had its “buy” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $29.00 price target on the stock.
  • 10/2/2019 – Marvell Technology Group was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 9/4/2019 – Marvell Technology Group was downgraded by analysts at TheStreet from a “b-” rating to a “c+” rating.
  • 9/1/2019 – Marvell Technology Group had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $28.00 price target on the stock.
  • 8/30/2019 – Marvell Technology Group was given a new $20.00 price target on by analysts at Morgan Stanley. They now have a “hold” rating on the stock.
  • 8/30/2019 – Marvell Technology Group was given a new $28.00 price target on by analysts at Rosenblatt Securities. They now have a “buy” rating on the stock.
  • 8/30/2019 – Marvell Technology Group was given a new $28.00 price target on by analysts at Susquehanna Bancshares Inc. They now have a “buy” rating on the stock.
  • 8/30/2019 – Marvell Technology Group was downgraded by analysts at Citigroup Inc to a “buy” rating. They now have a $29.00 price target on the stock.
  • 8/30/2019 – Marvell Technology Group was given a new $30.00 price target on by analysts at Piper Jaffray Companies. They now have a “buy” rating on the stock.
  • 8/30/2019 – Marvell Technology Group was given a new $30.00 price target on by analysts at Benchmark Co.. They now have a “buy” rating on the stock.
  • 8/30/2019 – Marvell Technology Group was given a new $30.00 price target on by analysts at Oppenheimer Holdings Inc.. They now have a “buy” rating on the stock.
  • 8/30/2019 – Marvell Technology Group was given a new $27.00 price target on by analysts at JPMorgan Chase & Co.. They now have a “buy” rating on the stock.
  • 8/30/2019 – Marvell Technology Group was given a new $30.00 price target on by analysts at Barclays PLC. They now have a “buy” rating on the stock.
  • 8/30/2019 – Marvell Technology Group was given a new $28.00 price target on by analysts at Bank of America Corp. They now have a “buy” rating on the stock.
  • 8/30/2019 – Marvell Technology Group was upgraded by analysts at Craig Hallum from a “hold” rating to a “buy” rating. They now have a $28.00 price target on the stock.
  • 8/26/2019 – Marvell Technology Group was given a new $27.00 price target on by analysts at Cowen Inc. They now have an “outperform” rating on the stock.
  • 8/26/2019 – Marvell Technology Group was given a new $28.00 price target on by analysts at BMO Capital Markets. They now have a “buy” rating on the stock.
  • 8/26/2019 – Marvell Technology Group was given a new $28.00 price target on by analysts at B. Riley. They now have a “buy” rating on the stock.
  • 8/23/2019 – Marvell Technology Group was given a new $29.00 price target on by analysts at UBS Group AG. They now have a “buy” rating on the stock.
  • 8/22/2019 – Marvell Technology Group was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 8/21/2019 – Marvell Technology Group had its “buy” rating reaffirmed by analysts at Benchmark Co.. They now have a $30.00 price target on the stock.

MRVL opened at $24.40 on Wednesday. Marvell Technology Group Ltd. has a twelve month low of $14.34 and a twelve month high of $27.64. The company has a quick ratio of 2.68, a current ratio of 3.06 and a debt-to-equity ratio of 0.23. The company has a fifty day moving average of $24.53 and a 200-day moving average of $24.13. The stock has a market cap of $16.19 billion, a PE ratio of 28.71, a price-to-earnings-growth ratio of 11.29 and a beta of 1.19.

Marvell Technology Group (NASDAQ:MRVL) last posted its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.11. 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 $656.56 million during the quarter, compared to analysts’ expectations of $650.29 million. During the same period in the prior year, the company posted $0.28 earnings per share. Marvell Technology Group’s revenue for the quarter was down 1.3% compared to the same quarter last year. Sell-side analysts anticipate that Marvell Technology Group Ltd. will post 0.34 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 30th. Investors of record on Thursday, October 10th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date is Wednesday, October 9th. Marvell Technology Group’s payout ratio is currently 28.24%.

In other Marvell Technology Group news, EVP Dan Christman sold 64,856 shares of Marvell Technology Group stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $24.97, for a total value of $1,619,454.32. Following the sale, the executive vice president now owns 1,629 shares of the company’s stock, valued at $40,676.13. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Matthew J. Murphy sold 15,000 shares of Marvell Technology Group stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $24.33, for a total transaction of $364,950.00. The disclosure for this sale can be found here. Insiders have sold 250,933 shares of company stock worth $6,285,232 over the last three months. 1.10% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its position in Marvell Technology Group by 128.1% in the second quarter. Price T Rowe Associates Inc. MD now owns 97,954,732 shares of the semiconductor company’s stock worth $2,338,179,000 after acquiring an additional 55,005,127 shares during the period. Vanguard Group Inc. raised its position in shares of Marvell Technology Group by 1.1% in the second quarter. Vanguard Group Inc. now owns 56,926,422 shares of the semiconductor company’s stock valued at $1,358,833,000 after purchasing an additional 628,141 shares during the period. Allianz Asset Management GmbH raised its position in shares of Marvell Technology Group by 137.1% in the second quarter. Allianz Asset Management GmbH now owns 9,718,724 shares of the semiconductor company’s stock valued at $231,986,000 after purchasing an additional 5,619,751 shares during the period. Nuveen Asset Management LLC bought a new stake in shares of Marvell Technology Group in the second quarter valued at approximately $212,265,000. Finally, Whale Rock Capital Management LLC bought a new stake in shares of Marvell Technology Group in the second quarter valued at approximately $204,888,000.

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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