Cowen and Company Reiterates Buy Rating for Marvell Technology Group Ltd. (MRVL)

Marvell Technology Group Ltd. (NASDAQ:MRVL)‘s stock had its “buy” rating restated by Cowen and Company in a research report issued to clients and investors on Friday.

Other equities research analysts have also issued research reports about the company. B. Riley restated a “buy” rating and set a $21.00 price target on shares of Marvell Technology Group in a research note on Monday, May 1st. Zacks Investment Research upgraded Marvell Technology Group from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research note on Friday, May 26th. Citigroup Inc. upgraded Marvell Technology Group to an “outperform” rating and set a $23.00 price target on the stock in a research note on Friday, May 26th. BidaskClub lowered Marvell Technology Group from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Finally, Loop Capital reiterated a “buy” rating and issued a $20.00 target price on shares of Marvell Technology Group in a research report on Thursday, March 16th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Marvell Technology Group currently has an average rating of “Buy” and a consensus target price of $18.05.

Shares of Marvell Technology Group (NASDAQ:MRVL) opened at 16.26 on Friday. Marvell Technology Group has a 12 month low of $9.68 and a 12 month high of $18.18. The stock has a market capitalization of $8.17 billion, a P/E ratio of 54.93 and a beta of 1.11. The company’s 50-day moving average is $17.03 and its 200 day moving average is $15.63.

Marvell Technology Group (NASDAQ:MRVL) last posted its earnings results on Thursday, May 25th. The semiconductor company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.04. Marvell Technology Group had a return on equity of 7.96% and a net margin of 6.19%. The company had revenue of $579.18 million for the quarter, compared to analyst estimates of $570.72 million. During the same quarter in the previous year, the firm earned $0.01 earnings per share. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. Equities research analysts predict that Marvell Technology Group will post $1.10 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently made changes to their positions in MRVL. Envestnet Asset Management Inc. increased its stake in Marvell Technology Group by 103.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 7,258 shares of the semiconductor company’s stock worth $102,000 after buying an additional 3,696 shares during the period. GSA Capital Partners LLP acquired a new stake in Marvell Technology Group during the fourth quarter worth $417,000. Franklin Resources Inc. increased its stake in Marvell Technology Group by 7.7% in the fourth quarter. Franklin Resources Inc. now owns 14,079 shares of the semiconductor company’s stock worth $195,000 after buying an additional 1,006 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its stake in Marvell Technology Group by 454.8% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,777 shares of the semiconductor company’s stock worth $122,000 after buying an additional 7,195 shares during the period. Finally, Quadrature Capital Ltd acquired a new stake in Marvell Technology Group during the fourth quarter worth $2,267,000. Institutional investors own 74.19% of the company’s stock.

Marvell Technology Group Company Profile

Marvell Technology Group Ltd. is a semiconductor provider of application-specific standard products. The Company is engaged in the design, development and sale of integrated circuits. The Company develops System-on-a-Chip (SoC) devices. It also develops integrated hardware platforms along with software that incorporates digital computing technologies designed and configured to provide an optimized computing solution.

Analyst Recommendations for Marvell Technology Group (NASDAQ:MRVL)

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