Marvell Technology Group Ltd. (NASDAQ:MRVL) will issue its Q317 quarterly earnings data on Thursday, November 17th. Analysts expect the company to announce earnings of $0.12 per share and revenue of $615.66 million for the quarter. Marvell Technology Group has set its Q3 guidance at $0.08-0.13 EPS.Parties that are interested in registering for the company’s conference call can do so using this link.

Marvell Technology Group (NASDAQ:MRVL) last announced its quarterly earnings data on Tuesday, September 6th. The company reported $0.18 EPS for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.07. The company earned $626 million during the quarter, compared to the consensus estimate of $629.96 million. Marvell Technology Group had a negative net margin of 1.18% and a positive return on equity of 1.35%. Marvell Technology Group’s quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.12 EPS. On average, analysts expect Marvell Technology Group to post $0.45 EPS for the current fiscal year and $0.72 EPS for the next fiscal year.

Earnings History for Marvell Technology Group (NASDAQ:MRVL)

Marvell Technology Group Ltd. (NASDAQ:MRVL) opened at 13.43 on Wednesday. Marvell Technology Group Ltd. has a 12 month low of $7.40 and a 12 month high of $13.61. The stock’s market cap is $6.87 billion. The firm’s 50-day moving average is $13.01 and its 200-day moving average is $11.45.

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 19th. Stockholders of record on Wednesday, September 28th were given a $0.06 dividend. The ex-dividend date was Monday, September 26th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.79%. Marvell Technology Group’s dividend payout ratio is currently -480.00%.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Gideon Capital Advisors Inc. purchased a new stake in Marvell Technology Group during the second quarter worth $233,000. The Manufacturers Life Insurance Company purchased a new stake in Marvell Technology Group during the third quarter worth $233,000. Prudential Financial Inc. raised its stake in Marvell Technology Group by 6.7% in the second quarter. Prudential Financial Inc. now owns 31,740 shares of the company’s stock worth $302,000 after buying an additional 2,000 shares during the period. ProShare Advisors LLC raised its stake in Marvell Technology Group by 20.2% in the second quarter. ProShare Advisors LLC now owns 32,515 shares of the company’s stock worth $310,000 after buying an additional 5,458 shares during the period. Finally, GAM Holding AG raised its stake in Marvell Technology Group by 31.6% in the second quarter. GAM Holding AG now owns 41,173 shares of the company’s stock worth $392,000 after buying an additional 9,896 shares during the period. 69.37% of the stock is owned by hedge funds and other institutional investors.

MRVL has been the topic of a number of analyst reports. B. Riley reissued a “buy” rating and issued a $16.00 price target on shares of Marvell Technology Group in a research report on Wednesday, July 20th. Jefferies Group reissued a “hold” rating on shares of Marvell Technology Group in a research report on Wednesday, July 20th. Credit Suisse Group AG reissued a “hold” rating and issued a $9.00 price target on shares of Marvell Technology Group in a research report on Wednesday, July 20th. BMO Capital Markets reissued a “hold” rating and issued a $9.00 price target on shares of Marvell Technology Group in a research report on Wednesday, July 20th. Finally, Bank of America Corp. reissued a “sell” rating and issued a $10.00 price target on shares of Marvell Technology Group in a research report on Wednesday, July 20th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Marvell Technology Group has an average rating of “Hold” and an average target price of $13.68.

Marvell Technology Group Company Profile

Marvell Technology Group Ltd. is a fabless 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) and System-in-a-Package (SiP) devices. Its product portfolio includes devices for data storage, enterprise-class Ethernet data switching, Ethernet physical-layer transceivers (PHY), wireless connectivity, Internet-of-Things (IoT) devices and multimedia solutions.

5 Day Chart for NASDAQ:MRVL

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