Marvell Technology Group Ltd. (NASDAQ:MRVL) – Equities research analysts at KeyCorp increased their FY2018 earnings estimates for Marvell Technology Group in a note issued to investors on Tuesday. KeyCorp analyst M. Mcconnell now anticipates that the semiconductor company will post earnings per share of $1.02 for the year, up from their previous forecast of $0.99. KeyCorp has a “Buy” rating and a $25.00 price objective on the stock. KeyCorp also issued estimates for Marvell Technology Group’s Q4 2018 earnings at $0.27 EPS, Q1 2019 earnings at $0.25 EPS and Q2 2019 earnings at $0.32 EPS.

Marvell Technology Group (NASDAQ:MRVL) last released its earnings results on Tuesday, November 28th. The semiconductor company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. The company had revenue of $616.00 million during the quarter, compared to analysts’ expectations of $613.49 million. Marvell Technology Group had a net margin of 16.53% and a return on equity of 11.99%. Marvell Technology Group’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same period last year, the business earned $0.20 EPS.

A number of other analysts have also recently commented on MRVL. B. Riley reiterated a “buy” rating and issued a $23.00 target price on shares of Marvell Technology Group in a research note on Friday, September 1st. Stifel Nicolaus lifted their price objective on shares of Marvell Technology Group from $16.00 to $19.00 and gave the company a “hold” rating in a research note on Wednesday. Needham & Company LLC lifted their price objective on shares of Marvell Technology Group from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Wednesday. Zacks Investment Research upgraded shares of Marvell Technology Group from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research note on Tuesday, November 21st. Finally, Loop Capital restated a “buy” rating and set a $28.00 price objective on shares of Marvell Technology Group in a research note on Wednesday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty have given 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 $23.48.

Shares of Marvell Technology Group (MRVL) opened at $22.18 on Friday. The company has a market cap of $10,972.10, a P/E ratio of 24.02, a P/E/G ratio of 1.36 and a beta of 1.12. Marvell Technology Group has a 12 month low of $13.59 and a 12 month high of $24.22.

Hedge funds have recently made changes to their positions in the company. Meeder Asset Management Inc. acquired a new position in shares of Marvell Technology Group during the 3rd quarter valued at about $106,000. D.A. Davidson & CO. lifted its position in Marvell Technology Group by 10.2% in the second quarter. D.A. Davidson & CO. now owns 6,461 shares of the semiconductor company’s stock valued at $106,000 after buying an additional 600 shares during the last quarter. Massey Quick Simon & CO. LLC acquired a new position in Marvell Technology Group in the third quarter valued at about $124,000. Creative Planning lifted its position in Marvell Technology Group by 39.8% in the second quarter. Creative Planning now owns 10,008 shares of the semiconductor company’s stock valued at $165,000 after buying an additional 2,850 shares during the last quarter. Finally, Boothbay Fund Management LLC acquired a new position in Marvell Technology Group in the third quarter valued at about $203,000. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

In other news, major shareholder Sehat Sutardja sold 62,337 shares of the company’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $18.48, for a total transaction of $1,151,987.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 17,558,035 shares of company stock valued at $320,838,284 in the last ninety days. Insiders own 6.80% of the company’s stock.

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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.

Earnings History and Estimates for Marvell Technology Group (NASDAQ:MRVL)

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