Research Analysts Offer Predictions for Marvell Technology Group Ltd.’s Q3 2019 Earnings (MRVL)

Marvell Technology Group Ltd. (NASDAQ:MRVL) – Stock analysts at B. Riley lifted their Q3 2019 earnings per share estimates for shares of Marvell Technology Group in a research report issued on Wednesday. B. Riley analyst C. Ellis now forecasts that the semiconductor company will post earnings per share of $0.33 for the quarter, up from their prior forecast of $0.30. B. Riley currently has a “Buy” rating and a $29.00 price objective on the stock. B. Riley also issued estimates for Marvell Technology Group’s Q4 2019 earnings at $0.32 EPS and FY2019 earnings at $1.19 EPS.

Marvell Technology Group (NASDAQ:MRVL) last posted its quarterly earnings data on Tuesday, November 28th. The semiconductor company reported $0.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.01. The business had revenue of $616.00 million for the quarter, compared to analysts’ expectations of $613.49 million. Marvell Technology Group had a net margin of 16.53% and a return on equity of 11.99%. The business’s revenue was down 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.20 earnings per share.

Several other equities analysts also recently issued reports on MRVL. BidaskClub upgraded shares of Marvell Technology Group from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 16th. Cowen reaffirmed a “buy” rating and set a $21.00 price objective on shares of Marvell Technology Group in a research note on Monday, August 21st. Credit Suisse Group reiterated a “buy” rating on shares of Marvell Technology Group in a research report on Wednesday, August 23rd. Jefferies Group reiterated a “hold” rating and set a $18.50 target price (down previously from $19.00) on shares of Marvell Technology Group in a research report on Thursday, August 24th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $21.00 target price on shares of Marvell Technology Group in a research report on Thursday, August 24th. Eight research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $23.48.

Marvell Technology Group (NASDAQ:MRVL) traded down $0.15 during mid-day trading on Monday, hitting $21.82. 6,344,550 shares of the company’s stock traded hands, compared to its average volume of 6,832,648. The stock has a market capitalization of $10,953.76, a price-to-earnings ratio of 23.98, a price-to-earnings-growth ratio of 1.35 and a beta of 1.13. Marvell Technology Group has a 1-year low of $13.83 and a 1-year high of $24.22.

In related news, major shareholder Sehat Sutardja sold 537,235 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $17.57, for a total transaction of $9,439,218.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Marvell Semiconductor, Inc. Ca sold 9,812 shares of the firm’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $21.20, for a total value of $208,014.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,147,425 shares of company stock worth $313,545,970. Insiders own 6.80% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Meeder Asset Management Inc. acquired a new position in shares of Marvell Technology Group during the third quarter worth about $106,000. D.A. Davidson & CO. lifted its stake in Marvell Technology Group by 10.2% during the second quarter. D.A. Davidson & CO. now owns 6,461 shares of the semiconductor company’s stock worth $106,000 after purchasing an additional 600 shares during the last quarter. Massey Quick Simon & CO. LLC purchased a new stake in Marvell Technology Group during the third quarter worth approximately $124,000. Creative Planning lifted its stake in Marvell Technology Group by 39.8% during the second quarter. Creative Planning now owns 10,008 shares of the semiconductor company’s stock worth $165,000 after purchasing an additional 2,850 shares during the last quarter. Finally, Boothbay Fund Management LLC purchased a new stake in Marvell Technology Group in the third quarter valued at approximately $203,000. 78.84% of the stock is owned by institutional investors and hedge funds.

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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.

Earnings History and Estimates for Marvell Technology Group (NASDAQ:MRVL)

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