Wall Street analysts expect that Marvell Technology Group Ltd. (NASDAQ:MRVL) will announce sales of $611.65 million for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have issued estimates for Marvell Technology Group’s earnings. The lowest sales estimate is $610.00 million and the highest is $620.29 million. Marvell Technology Group posted sales of $571.40 million in the same quarter last year, which suggests a positive year-over-year growth rate of 7%. The business is scheduled to issue its next earnings report on Thursday, March 1st.

On average, analysts expect that Marvell Technology Group will report full-year sales of $611.65 million for the current fiscal year, with estimates ranging from $2.40 billion to $2.42 billion. For the next financial year, analysts anticipate that the company will post sales of $2.50 billion per share, with estimates ranging from $2.46 billion to $2.58 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Marvell Technology Group.

Marvell Technology Group (NASDAQ:MRVL) last posted its earnings results on Tuesday, November 28th. The semiconductor company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.33 by $0.01. Marvell Technology Group had a return on equity of 11.93% and a net margin of 16.53%. The firm had revenue of $616.00 million for the quarter, compared to analysts’ expectations of $613.49 million. During the same period last year, the firm earned $0.20 EPS. The firm’s revenue was down 5.8% compared to the same quarter last year.

MRVL has been the topic of several analyst reports. Benchmark upgraded Marvell Technology Group from a “hold” rating to a “buy” rating and raised their target price for the company from $17.00 to $30.00 in a research report on Monday, November 20th. Citigroup upgraded Marvell Technology Group from a “sell” rating to a “neutral” rating and set a $22.00 target price on the stock in a research report on Tuesday, November 7th. Oppenheimer restated a “buy” rating and issued a $23.00 target price on shares of Marvell Technology Group in a research report on Monday, November 6th. Piper Jaffray Companies started coverage on Marvell Technology Group in a research report on Monday, December 18th. They issued an “overweight” rating and a $25.00 target price on the stock. Finally, Barclays upgraded Marvell Technology Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $20.00 to $30.00 in a research report on Tuesday, November 21st. Eight analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. Marvell Technology Group currently has an average rating of “Buy” and an average price target of $23.92.

Marvell Technology Group (NASDAQ MRVL) traded up $0.69 on Friday, reaching $23.84. The company had a trading volume of 18,421,544 shares, compared to its average volume of 5,591,744. Marvell Technology Group has a 12-month low of $13.83 and a 12-month high of $24.22. The firm has a market cap of $11,710.21, a PE ratio of 30.96, a P/E/G ratio of 1.44 and a beta of 1.12.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Wednesday, December 27th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend is Tuesday, December 26th. Marvell Technology Group’s payout ratio is 31.17%.

In related news, insider Marvell Semiconductor, Inc. Ca sold 9,812 shares of Marvell Technology Group stock in a transaction on Friday, December 1st. The stock was sold at an average price of $21.20, for a total value of $208,014.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Sehat Sutardja sold 474,771 shares of Marvell Technology Group stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $18.48, for a total value of $8,773,768.08. The disclosure for this sale can be found here. Insiders sold a total of 1,813,418 shares of company stock worth $33,627,308 over the last 90 days. Insiders own 6.80% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Teton Advisors Inc. grew its holdings in shares of Marvell Technology Group by 14.7% in the 3rd quarter. Teton Advisors Inc. now owns 71,700 shares of the semiconductor company’s stock worth $1,283,000 after acquiring an additional 9,200 shares during the last quarter. Quantitative Investment Management LLC acquired a new stake in shares of Marvell Technology Group in the second quarter worth $15,360,000. Achmea Investment Management B.V. acquired a new stake in shares of Marvell Technology Group in the second quarter worth $214,000. Nomura Holdings Inc. acquired a new stake in shares of Marvell Technology Group in the second quarter worth $539,000. Finally, Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Marvell Technology Group by 2.0% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 232,300 shares of the semiconductor company’s stock worth $4,176,000 after buying an additional 4,600 shares during the period. Institutional investors and hedge funds own 78.70% 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.

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

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