Marvell Technology Group (NASDAQ:MRVL) Rating Reiterated by Stifel Nicolaus

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Marvell Technology Group (NASDAQ:MRVL)‘s stock had its “buy” rating reiterated by analysts at Stifel Nicolaus in a research note issued to investors on Monday, TipRanks reports. They presently have a $29.00 price target on the semiconductor company’s stock. Stifel Nicolaus’ price target indicates a potential upside of 22.47% from the stock’s current price.

MRVL has been the subject of a number of other research reports. Cowen set a $27.00 target price on shares of Marvell Technology Group and gave the stock an “outperform” rating in a research note on Monday, August 26th. Benchmark set a $30.00 target price on shares of Marvell Technology Group and gave the stock a “buy” rating in a research note on Friday, August 30th. Argus reissued a “buy” rating and set a $30.00 target price on shares of Marvell Technology Group in a research note on Friday, December 6th. They noted that the move was a valuation call. JPMorgan Chase & Co. lifted their target price on shares of Marvell Technology Group from $27.00 to $31.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Finally, Citigroup downgraded shares of Marvell Technology Group to a “buy” rating and set a $29.00 target price for the company. in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $28.12.

Shares of NASDAQ:MRVL opened at $23.68 on Monday. The firm has a market cap of $16.21 billion, a PE ratio of 27.86, a price-to-earnings-growth ratio of 11.22 and a beta of 1.19. The firm’s fifty day moving average is $25.68 and its 200-day moving average is $24.78. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.41 and a current ratio of 2.88. Marvell Technology Group has a 52 week low of $14.34 and a 52 week high of $28.38.

Marvell Technology Group (NASDAQ:MRVL) last announced its earnings results on Tuesday, December 3rd. The semiconductor company reported $0.17 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.17. Marvell Technology Group had a negative net margin of 16.47% and a positive return on equity of 3.59%. The business had revenue of $662.00 million during the quarter, compared to the consensus estimate of $660.94 million. During the same quarter last year, the firm earned $0.33 earnings per share. Marvell Technology Group’s quarterly revenue was down 22.2% on a year-over-year basis. Sell-side analysts forecast that Marvell Technology Group will post 0.28 EPS for the current year.

In other news, CEO Matthew J. Murphy sold 15,000 shares of the business’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $24.33, for a total transaction of $364,950.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Oleg Khaykin sold 20,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $25.71, for a total transaction of $514,200.00. Following the sale, the director now directly owns 23,309 shares of the company’s stock, valued at $599,274.39. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 266,077 shares of company stock valued at $7,070,578. Insiders own 1.10% of the company’s stock.

Large investors have recently bought and sold shares of the company. Sheaff Brock Investment Advisors LLC increased its position in shares of Marvell Technology Group by 8.6% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 39,508 shares of the semiconductor company’s stock worth $987,000 after acquiring an additional 3,131 shares in the last quarter. Worldquant Millennium Advisors LLC bought a new stake in shares of Marvell Technology Group during the third quarter worth about $17,649,000. Northern Oak Wealth Management Inc. bought a new stake in shares of Marvell Technology Group during the third quarter worth about $126,000. Signaturefd LLC increased its position in shares of Marvell Technology Group by 27.2% during the second quarter. Signaturefd LLC now owns 1,859 shares of the semiconductor company’s stock worth $44,000 after acquiring an additional 397 shares in the last quarter. Finally, Cookson Peirce & Co. Inc. bought a new stake in shares of Marvell Technology Group during the third quarter worth about $25,567,000. 96.32% of the stock is owned by institutional investors.

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, 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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