Marvell Technology Group Ltd. (MRVL) Upgraded by Vetr Inc. to Strong-Buy
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.
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.
ILLEGAL ACTIVITY NOTICE: “Marvell Technology Group Ltd. (MRVL) Upgraded by Vetr Inc. to Strong-Buy” was first posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this report on another site, it was stolen and republished in violation of US and international copyright & trademark legislation. The original version of this report can be read at https://www.thecerbatgem.com/2016/11/23/marvell-technology-group-ltd-mrvl-upgraded-by-vetr-inc-to-strong-buy.html.
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.
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.