Marvell Technology Group Ltd. (NASDAQ:MRVL) declared a quarterly dividend on Friday, December 8th, RTT News reports. Shareholders of record on Wednesday, December 27th will be given a dividend of 0.06 per share by the semiconductor company on Tuesday, January 16th. This represents a $0.24 dividend on an annualized basis and a yield of 1.09%.

Shares of Marvell Technology Group (NASDAQ:MRVL) traded up $0.04 during trading on Friday, hitting $22.04. 7,064,405 shares of the stock were exchanged, compared to its average volume of 6,832,193. The company has a market capitalization of $10,810.00, a PE ratio of 23.46, a PEG ratio of 1.32 and a beta of 1.13. Marvell Technology Group has a 52 week low of $13.83 and a 52 week high of $24.22.

Marvell Technology Group (NASDAQ:MRVL) last announced its earnings results on Tuesday, November 28th. The semiconductor company reported $0.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 11.93%. Marvell Technology Group’s quarterly revenue was down 5.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.20 earnings per share. analysts expect that Marvell Technology Group will post 1.01 EPS for the current fiscal year.

A number of equities research analysts have recently issued reports on the stock. B. Riley reissued a “buy” rating and issued a $23.00 target price on shares of Marvell Technology Group in a research report on Friday, September 1st. BMO Capital Markets upped their price objective on shares of Marvell Technology Group to $25.00 and gave the stock a “market perform” rating in a research report on Monday, November 27th. Jefferies Group set a $19.00 price objective on shares of Marvell Technology Group and gave the stock a “hold” rating in a research report on Wednesday, October 18th. Bank of America raised shares of Marvell Technology Group from a “neutral” rating to a “buy” rating in a research report on Monday, November 20th. Finally, Needham & Company LLC upped their price objective on shares of Marvell Technology Group from $25.00 to $27.00 and gave the stock a “buy” rating in a research report on Wednesday, November 29th. Eight analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Marvell Technology Group presently has a consensus rating of “Buy” and a consensus target price of $23.72.

In other news, major shareholder Sehat Sutardja sold 492,343 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $17.41, for a total value of $8,571,691.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Marvell Semiconductor, Inc. Ca sold 9,812 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $21.20, for a total value of $208,014.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,610,190 shares of company stock valued at $304,106,751. Insiders own 6.80% of the company’s stock.

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About Marvell Technology Group

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.

Dividend History for Marvell Technology Group (NASDAQ:MRVL)

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