Vetr upgraded shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) from a buy rating to a strong-buy rating in a research report report published on Tuesday. The firm currently has $16.75 target price on the stock.

MRVL has been the topic of a number of other research reports. B. Riley reaffirmed a buy rating and set a $16.00 price objective on shares of Marvell Technology Group in a research report on Monday, July 25th. Zacks Investment Research downgraded Marvell Technology Group from a hold rating to a strong sell rating in a research report on Monday, July 25th. Needham & Company LLC reaffirmed a hold rating on shares of Marvell Technology Group in a research report on Tuesday, July 26th. MKM Partners increased their price target on Marvell Technology Group from $10.00 to $14.00 and gave the company a neutral rating in a research note on Thursday, July 28th. Finally, Northland Securities upgraded Marvell Technology Group from a market perform rating to an outperform rating and set a $16.00 price target for the company in a research note on Thursday, July 28th. 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 company. The company has an average rating of Hold and a consensus target price of $14.00.

Analyst Recommendations for Marvell Technology Group (NASDAQ:MRVL)

Shares of Marvell Technology Group (NASDAQ:MRVL) opened at 14.81 on Tuesday. The firm’s 50-day moving average price is $13.15 and its 200-day moving average price is $11.62. Marvell Technology Group has a one year low of $7.40 and a one year high of $15.00. The firm’s market cap is $7.58 billion.

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

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

Several institutional investors have recently modified their holdings of MRVL. Renaissance Technologies LLC acquired a new position in shares of Marvell Technology Group during the first quarter worth about $12,977,000. Legal & General Group Plc increased its position in shares of Marvell Technology Group by 3.8% in the first quarter. Legal & General Group Plc now owns 1,855,185 shares of the company’s stock worth $19,127,000 after buying an additional 68,468 shares during the period. PGGM Investments increased its position in shares of Marvell Technology Group by 6.2% in the second quarter. PGGM Investments now owns 296,231 shares of the company’s stock worth $2,823,000 after buying an additional 17,259 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Marvell Technology Group by 8.6% in the second quarter. Dimensional Fund Advisors LP now owns 6,455,008 shares of the company’s stock worth $61,514,000 after buying an additional 512,782 shares during the period. Finally, Freshford Capital Management LLC acquired a new position in shares of Marvell Technology Group during the second quarter worth about $1,839,000. 68.13% of the stock is owned by institutional investors and hedge funds.

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About Marvell Technology Group

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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