Somewhat Positive Press Coverage Somewhat Unlikely to Affect Marvell Technology Group (MRVL) Share Price
Media stories about Marvell Technology Group (NASDAQ:MRVL) have trended somewhat positive recently, according to Accern Sentiment. The research group ranks the sentiment of press coverage by monitoring more than 20 million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Marvell Technology Group earned a media sentiment score of 0.19 on Accern’s scale. Accern also gave media headlines about the semiconductor company an impact score of 46.527098037654 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the next several days.
These are some of the news stories that may have effected Accern Sentiment’s scoring:
- Marvell Technology Group’s (MRVL) Superior Earnings Growth Keep it a Buy (investorplace.com)
- Traders Purchase High Volume of Call Options on Marvell Technology Group (MRVL) (americanbankingnews.com)
- Marvell Technology Group Ltd. (MRVL) Sees Significant Decrease in Short Interest (americanbankingnews.com)
- Noteworthy Friday Option Activity: ITW, IFF, MRVL (nasdaq.com)
- Brokerages Anticipate Marvell Technology Group Ltd. (MRVL) Will Post Earnings of $0.31 Per Share (americanbankingnews.com)
A number of brokerages have recently commented on MRVL. B. Riley restated a “buy” rating and issued a $24.00 price target on shares of Marvell Technology Group in a report on Monday, September 25th. Citigroup upgraded Marvell Technology Group from a “sell” rating to a “neutral” rating and set a $22.00 price target on the stock in a report on Tuesday, November 7th. Benchmark upgraded Marvell Technology Group from a “hold” rating to a “buy” rating and boosted their price target for the company from $17.00 to $30.00 in a report on Monday, November 20th. Zacks Investment Research upgraded Marvell Technology Group from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a report on Tuesday, November 21st. Finally, Piper Jaffray Companies began coverage on Marvell Technology Group in a report on Monday, December 18th. They issued an “overweight” rating and a $25.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating, twenty 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 an average target price of $23.92.
Marvell Technology Group (NASDAQ:MRVL) last issued its quarterly earnings data on Tuesday, November 28th. The semiconductor company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $616.00 million during the quarter, compared to analysts’ expectations of $613.49 million. During the same quarter in the previous year, the company posted $0.20 earnings per share. The business’s revenue was down 5.8% on a year-over-year basis. research analysts expect that Marvell Technology Group will post 1.01 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Wednesday, December 27th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend was Tuesday, December 26th. Marvell Technology Group’s dividend payout ratio is presently 42.11%.
In other news, major shareholder Sehat Sutardja sold 62,337 shares of the business’s stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $18.48, for a total transaction of $1,151,987.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Marvell Semiconductor, Inc. Ca sold 9,812 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was 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 90 days, insiders have sold 1,338,647 shares of company stock valued at $24,853,540. Corporate insiders own 6.80% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: This piece of content was originally posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this piece of content on another domain, it was stolen and republished in violation of United States & international trademark & copyright law. The legal version of this piece of content can be read at https://www.thecerbatgem.com/2018/01/17/somewhat-positive-press-coverage-somewhat-unlikely-to-affect-marvell-technology-group-mrvl-share-price.html.
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.
Receive News & Ratings for Marvell Technology Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marvell Technology Group and related companies with MarketBeat.com's FREE daily email newsletter.