BidaskClub downgraded shares of Marvell Technology Group (NASDAQ:MRVL) from a hold rating to a sell rating in a research report report published on Friday, BidAskClub reports.

Other analysts also recently issued research reports about the company. Needham & Company LLC reaffirmed a buy rating and set a $28.00 target price on shares of Marvell Technology Group in a research note on Sunday, September 1st. Bank of America set a $28.00 price target on Marvell Technology Group and gave the company a buy rating in a report on Friday, August 30th. Rosenblatt Securities restated a buy rating and set a $28.00 price objective on shares of Marvell Technology Group in a research note on Tuesday, November 26th. TheStreet cut shares of Marvell Technology Group from a b- rating to a c+ rating in a research note on Wednesday, September 4th. Finally, B. Riley started coverage on shares of Marvell Technology Group in a report on Wednesday, December 4th. They issued a buy rating and a $32.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twenty have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $28.12.

NASDAQ MRVL opened at $24.17 on Friday. The company has a 50-day moving average price of $25.67 and a two-hundred day moving average price of $24.75. Marvell Technology Group has a 52 week low of $14.34 and a 52 week high of $28.38. The stock has a market cap of $16.21 billion, a price-to-earnings ratio of 28.44, a price-to-earnings-growth ratio of 11.22 and a beta of 1.19. The company has a current ratio of 2.88, a quick ratio of 2.41 and a debt-to-equity ratio of 0.28.

Marvell Technology Group (NASDAQ:MRVL) last released its quarterly earnings results on Tuesday, December 3rd. The semiconductor company reported $0.17 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.17. The company had revenue of $662.00 million for the quarter, compared to analysts’ expectations of $660.94 million. Marvell Technology Group had a positive return on equity of 3.59% and a negative net margin of 16.47%. The business’s revenue for the quarter was down 22.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 earnings per share. As a group, equities research analysts expect that Marvell Technology Group will post 0.28 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, December 26th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.99%. Marvell Technology Group’s dividend payout ratio is presently 28.24%.

In other Marvell Technology Group news, CEO Matthew J. Murphy sold 100,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $28.00, for a total transaction of $2,800,000.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Michael G. Strachan sold 10,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $25.99, for a total transaction of $259,900.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 251,077 shares of company stock valued at $6,715,078. Corporate insiders own 1.10% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC lifted its position in shares of Marvell Technology Group by 276.3% in the 3rd quarter. Millennium Management LLC now owns 1,573,314 shares of the semiconductor company’s stock valued at $39,285,000 after acquiring an additional 1,155,172 shares in the last quarter. Man Group plc acquired a new stake in Marvell Technology Group during the 3rd quarter valued at $2,477,000. Raine Capital LLC raised its stake in Marvell Technology Group by 37.5% during the 3rd quarter. Raine Capital LLC now owns 275,000 shares of the semiconductor company’s stock valued at $6,866,000 after purchasing an additional 75,000 shares during the period. Voloridge Investment Management LLC purchased a new stake in shares of Marvell Technology Group in the third quarter valued at $9,081,000. Finally, Worldquant Millennium Advisors LLC purchased a new stake in shares of Marvell Technology Group in the third quarter valued at $17,649,000. 96.32% of the stock is currently owned by institutional investors and hedge funds.

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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