Marvell Technology Group Ltd. (NASDAQ:MRVL)’s share price gapped up before the market opened on Monday after Vetr upgraded the stock from a buy rating to a strong-buy rating. The stock had previously closed at $14.97, but opened at $14.80. Vetr now has a $16.75 price target on the stock. Marvell Technology Group shares last traded at $14.86, with a volume of 5,646,218 shares traded.

Other equities research analysts have also issued reports about the stock. B. Riley restated a “buy” rating and set a $19.00 price objective on shares of Marvell Technology Group in a report on Sunday. Citigroup Inc. lowered shares of Marvell Technology Group to a “sell” rating in a report on Saturday. Benchmark Co. set a $13.00 price objective on shares of Marvell Technology Group and gave the stock a “hold” rating in a report on Saturday. Cowen and Company raised their price objective on shares of Marvell Technology Group from $16.00 to $18.00 and gave the stock an “outperform” rating in a report on Friday, November 18th. Finally, Susquehanna upgraded shares of Marvell Technology Group from a “neutral” rating to a “positive” rating in a report on Friday, November 18th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $14.00.

A number of institutional investors have recently made changes to their positions in MRVL. Piedmont Investment Advisors LLC acquired a new position in shares of Marvell Technology Group during the third quarter valued at about $485,000. B. Riley Financial Inc. acquired a new position in shares of Marvell Technology Group during the third quarter valued at about $237,000. Park West Asset Management LLC acquired a new position in shares of Marvell Technology Group during the third quarter valued at about $11,943,000. Xact Kapitalforvaltning AB acquired a new position in shares of Marvell Technology Group during the third quarter valued at about $722,000. Finally, Symmetry Peak Management LLC acquired a new position in shares of Marvell Technology Group during the third quarter valued at about $464,000. Hedge funds and other institutional investors own 68.13% of the company’s stock.

The stock’s 50-day moving average is $13.15 and its 200 day moving average is $11.62. The firm’s market capitalization is $7.58 billion.

Marvell Technology Group (NASDAQ:MRVL) last released its quarterly earnings data on Thursday, November 17th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates 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 earned $654 million during the quarter, compared to analyst estimates of $615.66 million. During the same period last year, the business earned $0.05 earnings per share. Marvell Technology Group’s revenue was down 3.1% compared to the same quarter last year. On average, equities analysts predict that Marvell Technology Group Ltd. will post $0.45 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 28th. Stockholders of record on Tuesday, December 6th will be given a $0.06 dividend. The ex-dividend date of this dividend is Friday, December 2nd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.62%. Marvell Technology Group’s dividend payout ratio (DPR) is currently 114.29%.

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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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