Wall Street analysts predict that Marvell Technology Group Ltd. (NASDAQ:MRVL) will report $660.23 million in sales for the current fiscal quarter, Zacks reports. Nine analysts have provided estimates for Marvell Technology Group’s earnings, with the highest sales estimate coming in at $661.43 million and the lowest estimate coming in at $660.00 million. Marvell Technology Group posted sales of $851.05 million during the same quarter last year, which would indicate a negative year over year growth rate of 22.4%. The business is expected to announce its next quarterly earnings results after the market closes on Tuesday, December 3rd.

On average, analysts expect that Marvell Technology Group will report full-year sales of $2.68 billion for the current fiscal year, with estimates ranging from $2.66 billion to $2.69 billion. For the next fiscal year, analysts expect that the firm will report sales of $3.08 billion, with estimates ranging from $2.99 billion to $3.22 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that follow Marvell Technology Group.

A number of research analysts have commented on MRVL shares. UBS Group set a $29.00 price target on shares of Marvell Technology Group and gave the stock a “buy” rating in a research note on Friday, August 23rd. TheStreet cut shares of Marvell Technology Group from a “b-” rating to a “c+” rating in a research note on Wednesday, September 4th. JPMorgan Chase & Co. set a $27.00 price target on shares of Marvell Technology Group and gave the stock a “buy” rating in a research note on Friday, August 30th. Stifel Nicolaus restated a “buy” rating and set a $29.00 price target on shares of Marvell Technology Group in a research note on Friday, October 4th. Finally, Susquehanna Bancshares restated a “buy” rating and set a $28.00 price target on shares of Marvell Technology Group in a research note on Monday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-two have issued a buy rating to the company. Marvell Technology Group currently has an average rating of “Buy” and a consensus price target of $27.42.

In related news, Director Oleg Khaykin sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $25.71, for a total value of $514,200.00. Following the completion of the transaction, the director now owns 23,309 shares in the company, valued at approximately $599,274.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew J. Murphy sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $28.00, for a total transaction of $2,800,000.00. The disclosure for this sale can be found here. Insiders sold 370,933 shares of company stock valued at $9,666,982 in the last quarter. 1.10% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the stock. Capital Investment Advisory Services LLC bought a new position in Marvell Technology Group in the 2nd quarter worth approximately $31,000. CWM LLC raised its position in Marvell Technology Group by 296.0% in the 3rd quarter. CWM LLC now owns 1,497 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 1,119 shares during the last quarter. Patriot Financial Group Insurance Agency LLC raised its position in Marvell Technology Group by 198.2% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,807 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 1,201 shares during the last quarter. Signaturefd LLC raised its position in Marvell Technology Group by 27.2% in the 2nd quarter. Signaturefd LLC now owns 1,859 shares of the semiconductor company’s stock worth $44,000 after purchasing an additional 397 shares during the last quarter. Finally, Mizuho Securities Co. Ltd. bought a new position in Marvell Technology Group in the 2nd quarter worth approximately $48,000. Hedge funds and other institutional investors own 96.38% of the company’s stock.

MRVL stock opened at $25.81 on Tuesday. Marvell Technology Group has a twelve month low of $14.34 and a twelve month high of $28.38. The company has a market cap of $17.59 billion, a PE ratio of 30.36, a price-to-earnings-growth ratio of 12.69 and a beta of 1.19. The business’s 50-day simple moving average is $25.66 and its 200 day simple moving average is $24.72. The company has a quick ratio of 2.68, a current ratio of 3.06 and a debt-to-equity ratio of 0.23.

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 preamplifiers; supports a variety of host system interfaces consisting of serial attached SCSI (SAS), serial advanced technology attachment (SATA), peripheral component interconnect express, and non-volatile memory express; and develops software-enabled silicon solutions comprising SATA port multipliers, bridges, SATA, SAS, 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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