Marvell Technology Group (NASDAQ:MRVL) had its price objective increased by MKM Partners to $30.00 in a report published on Wednesday morning. MKM Partners currently has a buy rating on the semiconductor company’s stock.

Several other analysts also recently commented on the stock. Needham & Company LLC raised 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 report on Wednesday. Stifel Nicolaus raised 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 report on Wednesday. Credit Suisse Group restated an outperform rating and set a $30.00 price objective (up from $22.00) on shares of Marvell Technology Group in a research report on Tuesday, November 28th. BMO Capital Markets raised their price objective on shares of Marvell Technology Group to $25.00 and gave the company a market perform rating in a research report on Monday, November 27th. Finally, Cowen reiterated an outperform rating and issued a $29.00 price target (up from $21.00) on shares of Marvell Technology Group in a report on Monday, November 27th. Eight equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. Marvell Technology Group has an average rating of Buy and a consensus price target of $23.48.

Shares of Marvell Technology Group (NASDAQ:MRVL) opened at $22.18 on Wednesday. The company has a market cap of $10,893.51, a price-to-earnings ratio of 23.85, a PEG ratio of 1.35 and a beta of 1.12. Marvell Technology Group has a 52-week low of $13.59 and a 52-week high of $24.22.

Marvell Technology Group (NASDAQ:MRVL) last announced its quarterly earnings data on Tuesday, November 28th. The semiconductor company reported $0.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.01. The firm had revenue of $616.00 million for the quarter, compared to the consensus estimate of $613.49 million. Marvell Technology Group had a net margin of 16.53% and a return on equity of 11.99%. The company’s revenue was down 5.8% on a year-over-year basis. During the same period last year, the firm earned $0.20 EPS. equities analysts forecast that Marvell Technology Group will post 1.01 EPS for the current year.

In related news, major shareholder Sehat Sutardja sold 1,266,498 shares of Marvell Technology Group stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $18.55, for a total transaction of $23,493,537.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders have sold 17,558,035 shares of company stock valued at $320,838,284. 6.80% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. purchased a new position in shares of Marvell Technology Group during the 3rd quarter worth about $106,000. D.A. Davidson & CO. boosted its stake in shares of Marvell Technology Group by 10.2% during 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. Massey Quick Simon & CO. LLC purchased a new position in shares of Marvell Technology Group during the 3rd quarter worth about $124,000. Creative Planning boosted its position in Marvell Technology Group by 39.8% in the 2nd 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 period. Finally, Boothbay Fund Management LLC purchased a new stake in Marvell Technology Group in the 3rd quarter valued at about $203,000. 78.10% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Marvell Technology Group (NASDAQ:MRVL)

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