Vetr cut shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) from a strong-buy rating to a buy rating in a research report report published on Monday morning. Vetr currently has $15.50 target price on the stock.

Several other equities analysts have also recently issued reports on MRVL. B. Riley reiterated a buy rating and set a $16.00 price target on shares of Marvell Technology Group in a research report on Monday, July 25th. Zacks Investment Research cut shares of Marvell Technology Group from a hold rating to a strong sell rating in a report on Monday, July 25th. Needham & Company LLC restated a hold rating on shares of Marvell Technology Group in a report on Tuesday, July 26th. MKM Partners upped their price objective on shares of Marvell Technology Group from $10.00 to $14.00 and gave the stock a neutral rating in a report on Thursday, July 28th. Finally, Northland Securities upgraded shares of Marvell Technology Group from a market perform rating to an outperform rating and set a $16.00 price objective on the stock in a report on Thursday, July 28th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Marvell Technology Group currently has an average rating of Hold and an average price target of $14.00.

Marvell Technology Group (NASDAQ:MRVL) traded up 0.68% during trading on Monday, hitting $14.85. 1,005,842 shares of the company’s stock traded hands. Marvell Technology Group has a 12 month low of $7.40 and a 12 month high of $15.00. The stock’s market cap is $7.60 billion. The company’s 50 day moving average is $13.10 and its 200-day moving average is $11.58.

Marvell Technology Group (NASDAQ:MRVL) last announced its quarterly earnings results on Thursday, November 17th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.08. Marvell Technology Group had a net margin of 4.33% and a return on equity of 3.28%. The company had revenue of $654 million for the quarter, compared to analysts’ expectations of $615.66 million. During the same quarter in the previous year, the company earned $0.05 earnings per share. Marvell Technology Group’s quarterly revenue was down 3.1% on a year-over-year basis. On average, analysts predict that Marvell Technology Group will post $0.45 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 28th. Investors of record on Tuesday, December 6th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend is Friday, December 2nd. Marvell Technology Group’s payout ratio is presently 114.29%.

Large investors have recently modified their holdings of the company. Sumitomo Mitsui Asset Management Company LTD raised its stake in shares of Marvell Technology Group by 0.3% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 27,861 shares of the company’s stock valued at $369,000 after buying an additional 73 shares during the last quarter. World Asset Management Inc raised its stake in shares of Marvell Technology Group by 1.9% in the second quarter. World Asset Management Inc now owns 30,728 shares of the company’s stock valued at $293,000 after buying an additional 562 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Marvell Technology Group by 1.9% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 63,724 shares of the company’s stock valued at $846,000 after buying an additional 1,193 shares during the last quarter. Paradigm Capital Management Inc. NY raised its stake in shares of Marvell Technology Group by 1.4% in the third quarter. Paradigm Capital Management Inc. NY now owns 90,525 shares of the company’s stock valued at $1,201,000 after buying an additional 1,250 shares during the last quarter. Finally, Calvert Investment Management Inc. raised its stake in shares of Marvell Technology Group by 7.2% in the second quarter. Calvert Investment Management Inc. now owns 24,531 shares of the company’s stock valued at $234,000 after buying an additional 1,649 shares during the last quarter. 68.13% of the stock is owned by institutional investors.

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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