Marvell Technology Group Ltd. (NASDAQ:MRVL) has been given an average rating of “Buy” by the twenty-eight brokerages that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nineteen have issued a buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $39.39.

A number of equities research analysts have recently issued reports on MRVL shares. Bank of America boosted their target price on Marvell Technology Group from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Piper Sandler boosted their target price on Marvell Technology Group from $35.00 to $42.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 21st. Benchmark boosted their target price on Marvell Technology Group from $35.00 to $40.00 in a research report on Monday, August 24th. Susquehanna Bancshares reissued a “buy” rating and set a $36.00 price target on shares of Marvell Technology Group in a research report on Friday, May 29th. Finally, Evercore ISI upped their price target on Marvell Technology Group from $45.00 to $50.00 in a research report on Thursday, September 3rd.

In related news, EVP Mitchell Gaynor sold 16,007 shares of the stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $35.13, for a total transaction of $562,325.91. Following the completion of the sale, the executive vice president now owns 54,701 shares in the company, valued at approximately $1,921,646.13. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Andrew Micallef sold 10,000 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $34.65, for a total value of $346,500.00. Following the sale, the chief operating officer now owns 100,621 shares of the company’s stock, valued at approximately $3,486,517.65. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,507 shares of company stock valued at $1,379,526. 0.29% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in the stock. Schonfeld Strategic Advisors LLC boosted its stake in Marvell Technology Group by 44.1% during the 2nd quarter. Schonfeld Strategic Advisors LLC now owns 38,097 shares of the semiconductor company’s stock valued at $1,336,000 after purchasing an additional 11,660 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its holdings in Marvell Technology Group by 3.2% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 526,568 shares of the semiconductor company’s stock valued at $18,461,000 after acquiring an additional 16,165 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Marvell Technology Group by 2.2% in the 2nd quarter. Principal Financial Group Inc. now owns 74,040 shares of the semiconductor company’s stock valued at $2,596,000 after acquiring an additional 1,625 shares in the last quarter. Toronto Dominion Bank raised its holdings in Marvell Technology Group by 19.2% in the 2nd quarter. Toronto Dominion Bank now owns 102,123 shares of the semiconductor company’s stock valued at $3,580,000 after acquiring an additional 16,439 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Marvell Technology Group by 40.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 16,604 shares of the semiconductor company’s stock worth $582,000 after buying an additional 4,771 shares in the last quarter. Hedge funds and other institutional investors own 88.51% of the company’s stock.

Shares of MRVL stock opened at $39.01 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.12 and a current ratio of 1.33. Marvell Technology Group has a 1 year low of $16.45 and a 1 year high of $41.34. The stock has a fifty day moving average of $36.34 and a two-hundred day moving average of $30.56. The firm has a market capitalization of $26.14 billion, a PE ratio of 18.66, a price-to-earnings-growth ratio of 3.22 and a beta of 1.03.

Marvell Technology Group (NASDAQ:MRVL) last posted its quarterly earnings data on Thursday, August 27th. The semiconductor company reported $0.21 EPS for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.01. Marvell Technology Group had a return on equity of 3.10% and a net margin of 50.67%. The company had revenue of $727.30 million for the quarter, compared to the consensus estimate of $720.88 million. During the same quarter in the previous year, the business earned $0.16 EPS. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. Equities research analysts predict that Marvell Technology Group will post 0.56 earnings per share for the current fiscal year.

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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Analyst Recommendations for Marvell Technology Group (NASDAQ:MRVL)

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