Marvell Technology Group Ltd. (NASDAQ:MRVL) had its target price increased by Needham & Company LLC from $21.00 to $25.00 in a research note released on Tuesday, Marketbeat reports. Needham & Company LLC currently has a buy rating on the semiconductor company’s stock.

MRVL has been the subject of a number of other reports. B. Riley reaffirmed a buy rating and set a $23.00 target price on shares of Marvell Technology Group in a research report on Friday, September 1st. Jefferies Group LLC set a $19.00 target price on Marvell Technology Group and gave the company a hold rating in a research report on Wednesday, October 18th. Bank of America Corporation raised Marvell Technology Group from a neutral rating to a buy rating in a research report on Monday. KeyCorp lifted their price target on Marvell Technology Group from $22.00 to $23.00 and gave the company an overweight rating in a report on Friday, August 25th. Finally, Oppenheimer Holdings, Inc. reiterated a buy rating and issued a $23.00 price target on shares of Marvell Technology Group in a report on Friday, August 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $21.59.

Shares of Marvell Technology Group (NASDAQ:MRVL) traded up $0.55 during midday trading on Tuesday, reaching $23.83. The company’s stock had a trading volume of 27,234,801 shares, compared to its average volume of 6,637,551. The company has a market cap of $12,090.00, a price-to-earnings ratio of 30.55, a PEG ratio of 1.68 and a beta of 1.05. Marvell Technology Group has a 1-year low of $13.59 and a 1-year high of $24.22.

Marvell Technology Group (NASDAQ:MRVL) last issued its earnings results on Thursday, August 24th. The semiconductor company reported $0.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.03). The firm had revenue of $604.75 million for the quarter, compared to the consensus estimate of $600.76 million. Marvell Technology Group had a net margin of 10.97% and a return on equity of 9.99%. The company’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same period last year, the firm earned $0.18 earnings per share. research analysts expect that Marvell Technology Group will post 0.97 EPS for the current year.

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The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 26th. Stockholders of record on Tuesday, October 10th were issued a $0.06 dividend. The ex-dividend date of this dividend was Friday, October 6th. This represents a $0.24 annualized dividend and a dividend yield of 1.01%. Marvell Technology Group’s dividend payout ratio (DPR) is presently 54.55%.

In other news, major shareholder Sehat Sutardja sold 537,235 shares of the business’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $17.57, for a total value of $9,439,218.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders sold 17,558,035 shares of company stock valued at $320,838,284. Insiders own 6.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MRVL. D.A. Davidson & CO. raised its holdings in Marvell Technology Group by 10.2% in the 2nd quarter. D.A. Davidson & CO. now owns 6,461 shares of the semiconductor company’s stock worth $106,000 after purchasing an additional 600 shares during the period. Meeder Asset Management Inc. purchased a new stake in Marvell Technology Group during the 3rd quarter worth approximately $106,000. Massey Quick Simon & CO. LLC purchased a new stake in Marvell Technology Group during the 3rd quarter worth approximately $124,000. Creative Planning increased its stake in Marvell Technology Group by 39.8% during the 2nd quarter. Creative Planning now owns 10,008 shares of the semiconductor company’s stock worth $165,000 after buying an additional 2,850 shares in the last quarter. Finally, Boothbay Fund Management LLC purchased a new stake in Marvell Technology Group during the 3rd quarter worth approximately $203,000. 77.03% of the stock is owned by institutional investors.

Marvell Technology Group Company Profile

Marvell Technology Group Ltd. is a 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) devices. It also develops integrated hardware platforms along with software that incorporates digital computing technologies designed and configured to provide an optimized computing solution.

Analyst Recommendations for Marvell Technology Group (NASDAQ:MRVL)

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