Marvell Technology Group Ltd. (NASDAQ:MRVL) was upgraded by Susquehanna from a “neutral” rating to a “positive” rating in a note issued to investors on Friday.

Other equities research analysts also recently issued reports about the stock. B. Riley reissued a “buy” rating and issued a $16.00 price target on shares of Marvell Technology Group in a report on Monday, July 25th. Benchmark Co. set a $12.00 price target on shares of Marvell Technology Group and gave the stock a “hold” rating in a report on Sunday, November 6th. Finally, Cowen and Company increased their price target on shares of Marvell Technology Group from $16.00 to $18.00 and gave the stock an “outperform” rating in a report on Friday. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Marvell Technology Group has an average rating of “Hold” and an average target price of $13.77.

Analyst Recommendations for Marvell Technology Group (NASDAQ:MRVL)

Shares of Marvell Technology Group (NASDAQ:MRVL) opened at 13.36 on Friday. Marvell Technology Group has a 12-month low of $7.40 and a 12-month high of $13.61. The company’s market capitalization is $6.84 billion. The firm’s 50-day moving average is $13.02 and its 200-day moving average is $11.48.

Marvell Technology Group (NASDAQ:MRVL) last issued its earnings results on Thursday, November 17th. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.08. The firm earned $654 million during the quarter, compared to analyst estimates of $615.66 million. Marvell Technology Group had a negative net margin of 1.18% and a positive return on equity of 1.35%. The company’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the business earned $0.05 earnings per share. On average, equities analysts predict that Marvell Technology Group will post $0.45 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 28th. Shareholders of record on Tuesday, December 6th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.80%. Marvell Technology Group’s payout ratio is -480.00%.

A number of hedge funds and other institutional investors have recently bought and sold shares of MRVL. B. Riley Financial Inc. acquired a new position in Marvell Technology Group during the third quarter valued at $237,000. Park West Asset Management LLC acquired a new position in Marvell Technology Group during the third quarter valued at $11,943,000. Xact Kapitalforvaltning AB acquired a new position in Marvell Technology Group during the third quarter valued at $722,000. Symmetry Peak Management LLC acquired a new position in Marvell Technology Group during the third quarter valued at $464,000. Finally, Baker Avenue Asset Management LP acquired a new position in Marvell Technology Group during the third quarter valued at $214,000. Institutional investors and hedge funds own 69.37% of the company’s stock.

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

Receive News & Stock Ratings for Marvell Technology Group Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marvell Technology Group Ltd. and related stocks with our FREE daily email newsletter.