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.
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