Wall Street brokerages expect Marvell Technology Group Ltd. (NASDAQ:MRVL) to post earnings per share of $0.32 for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for Marvell Technology Group’s earnings, with the highest EPS estimate coming in at $0.33 and the lowest estimate coming in at $0.31. Marvell Technology Group reported earnings of $0.34 per share in the same quarter last year, which would indicate a negative year over year growth rate of 5.9%. The firm is expected to report its next quarterly earnings report after the market closes on Tuesday, December 4th.

According to Zacks, analysts expect that Marvell Technology Group will report full year earnings of $1.25 per share for the current financial year, with EPS estimates ranging from $1.22 to $1.31. For the next financial year, analysts anticipate that the company will post earnings of $1.55 per share, with EPS estimates ranging from $1.50 to $1.61. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Marvell Technology Group.

Marvell Technology Group (NASDAQ:MRVL) last posted its quarterly earnings results on Thursday, September 6th. The semiconductor company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01). Marvell Technology Group had a net margin of 15.36% and a return on equity of 10.70%. The business had revenue of $665.31 million during the quarter, compared to the consensus estimate of $685.00 million. During the same quarter last year, the company posted $0.30 EPS. The firm’s revenue was up 10.1% on a year-over-year basis.

Several research analysts have weighed in on the company. TheStreet cut Marvell Technology Group from a “b” rating to a “c+” rating in a research report on Friday, October 26th. BidaskClub cut Marvell Technology Group from a “hold” rating to a “sell” rating in a research report on Saturday, October 27th. Rosenblatt Securities reiterated a “buy” rating and set a $27.00 price objective on shares of Marvell Technology Group in a research report on Sunday, September 9th. Goldman Sachs Group assumed coverage on Marvell Technology Group in a research report on Tuesday, September 18th. They set a “buy” rating and a $23.00 price objective on the stock. Finally, Barclays lowered their price objective on Marvell Technology Group from $30.00 to $25.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $25.56.

In other news, CEO Matthew J. Murphy sold 10,000 shares of the stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $20.64, for a total transaction of $206,400.00. Following the sale, the chief executive officer now directly owns 1,755 shares of the company’s stock, valued at approximately $36,223.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.10% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC grew its holdings in shares of Marvell Technology Group by 5.1% during the 2nd quarter. FMR LLC now owns 55,789,566 shares of the semiconductor company’s stock worth $1,196,128,000 after purchasing an additional 2,685,377 shares in the last quarter. BlackRock Inc. raised its holdings in Marvell Technology Group by 34.5% during the third quarter. BlackRock Inc. now owns 32,541,818 shares of the semiconductor company’s stock valued at $628,056,000 after acquiring an additional 8,349,897 shares during the period. Standard Life Aberdeen plc increased its holdings in shares of Marvell Technology Group by 16.0% in the second quarter. Standard Life Aberdeen plc now owns 14,359,692 shares of the semiconductor company’s stock worth $307,944,000 after purchasing an additional 1,979,069 shares during the last quarter. Boston Partners increased its holdings in shares of Marvell Technology Group by 2.6% in the second quarter. Boston Partners now owns 12,206,654 shares of the semiconductor company’s stock worth $261,711,000 after purchasing an additional 305,655 shares during the last quarter. Finally, Jennison Associates LLC increased its holdings in shares of Marvell Technology Group by 47.4% in the third quarter. Jennison Associates LLC now owns 7,611,736 shares of the semiconductor company’s stock worth $146,907,000 after purchasing an additional 2,449,407 shares during the last quarter. 82.65% of the stock is currently owned by institutional investors.

MRVL opened at $16.39 on Wednesday. Marvell Technology Group has a 1-year low of $15.31 and a 1-year high of $25.18. The company has a current ratio of 2.54, a quick ratio of 1.76 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $11.11 billion, a P/E ratio of 15.76, a price-to-earnings-growth ratio of 2.02 and a beta of 1.09.

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 23rd. Stockholders of record on Tuesday, October 2nd were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.46%. The ex-dividend date was Monday, October 1st. Marvell Technology Group’s dividend payout ratio (DPR) is currently 23.08%.

Marvell Technology Group announced that its board has initiated a stock repurchase program on Tuesday, October 16th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to repurchase up to 7.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Marvell Technology Group Company Profile

Marvell Technology Group Ltd. designs, develops, and markets analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a range of storage products, including hard disk drive (HDD) and solid-state drive controllers, as well as HDD components, such as HDD preamps components; and develops software-enabled silicon solutions comprising serial advanced technology attachment port multipliers, bridges, serial attached SCSI, and non-volatile memory express redundant array of independent disks controllers and converged storage processors for enterprises, data centers, and cloud computing businesses.

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

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