Analysts predict that Marvell Technology Group Ltd. (NASDAQ:MRVL) will announce sales of $800.39 million for the current quarter, Zacks reports. Ten analysts have provided estimates for Marvell Technology Group’s earnings, with the highest sales estimate coming in at $802.00 million and the lowest estimate coming in at $799.82 million. Marvell Technology Group reported sales of $693.64 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 15.4%. The business is scheduled to report its next quarterly earnings results on Thursday, May 27th.

On average, analysts expect that Marvell Technology Group will report full-year sales of $3.51 billion for the current financial year, with estimates ranging from $3.37 billion to $3.67 billion. For the next year, analysts expect that the company will post sales of $3.97 billion, with estimates ranging from $3.70 billion to $4.36 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Marvell Technology Group.

Marvell Technology Group (NASDAQ:MRVL) last announced its earnings results on Tuesday, March 2nd. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.29. The firm had revenue of $797.82 million during the quarter, compared to analysts’ expectations of $786.30 million. Marvell Technology Group had a return on equity of 3.76% and a net margin of 51.19%. The company’s revenue was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.17 earnings per share.

MRVL has been the subject of several research reports. Credit Suisse Group increased their price objective on Marvell Technology Group from $50.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, December 17th. Barclays increased their price objective on Marvell Technology Group from $50.00 to $60.00 and gave the company an “overweight” rating in a research report on Tuesday, January 26th. They noted that the move was a valuation call. Evercore ISI increased their price objective on Marvell Technology Group from $52.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday, March 12th. Morgan Stanley increased their price objective on Marvell Technology Group from $44.00 to $49.00 and gave the company an “equal weight” rating in a research report on Monday, March 8th. Finally, Piper Sandler increased their price objective on Marvell Technology Group from $50.00 to $60.00 and gave the company an “overweight” rating in a research report on Wednesday, January 13th. Four research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $49.84.

Marvell Technology Group stock traded down $0.15 during trading hours on Monday, reaching $50.21. 522,958 shares of the company were exchanged, compared to its average volume of 11,140,216. The firm has a market cap of $33.93 billion, a price-to-earnings ratio of 23.10, a PEG ratio of 4.41 and a beta of 1.17. The company has a current ratio of 1.42, a quick ratio of 1.19 and a debt-to-equity ratio of 0.12. The stock has a 50-day moving average of $47.40 and a 200 day moving average of $45.92. Marvell Technology Group has a 12 month low of $23.86 and a 12 month high of $55.70.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 28th. Shareholders of record on Friday, April 9th will be paid a dividend of $0.06 per share. The ex-dividend date is Thursday, April 8th. This represents a $0.24 annualized dividend and a yield of 0.48%. Marvell Technology Group’s dividend payout ratio is currently 75.00%.

In other Marvell Technology Group news, CFO Jean X. Hu sold 11,753 shares of the stock in a transaction on Friday, January 15th. The stock was sold at an average price of $51.48, for a total transaction of $605,044.44. Following the completion of the transaction, the chief financial officer now directly owns 93,868 shares in the company, valued at $4,832,324.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Matthew J. Murphy sold 7,500 shares of the stock in a transaction on Friday, January 15th. The stock was sold at an average price of $51.00, for a total value of $382,500.00. The disclosure for this sale can be found here. Insiders have sold 44,253 shares of company stock valued at $2,286,719 over the last quarter. Corporate insiders own 0.29% of the company’s stock.

Several large investors have recently made changes to their positions in MRVL. Truist Financial Corp increased its stake in shares of Marvell Technology Group by 9.4% in the third quarter. Truist Financial Corp now owns 70,684 shares of the semiconductor company’s stock valued at $2,805,000 after buying an additional 6,101 shares in the last quarter. Wetherby Asset Management Inc. acquired a new stake in shares of Marvell Technology Group in the third quarter valued at $260,000. Gyon Technologies Capital Management LP acquired a new stake in shares of Marvell Technology Group in the third quarter valued at $304,000. Engineers Gate Manager LP increased its stake in shares of Marvell Technology Group by 1,050.1% in the third quarter. Engineers Gate Manager LP now owns 107,539 shares of the semiconductor company’s stock valued at $4,269,000 after buying an additional 98,189 shares in the last quarter. Finally, ExodusPoint Capital Management LP increased its stake in shares of Marvell Technology Group by 108.0% in the third quarter. ExodusPoint Capital Management LP now owns 457,302 shares of the semiconductor company’s stock valued at $18,155,000 after buying an additional 237,483 shares in the last quarter. Institutional investors own 87.32% of the company’s stock.

About Marvell Technology Group

Marvell Technology Group Ltd., together with its subsidiaries, designs, develops, and sells analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a portfolio of Ethernet solutions, including controllers, network adapters, physical transceivers, and switches; single or multiple core processors; application specific integrated circuits; and printer SoC products and application processors.

Read More: Tariff

Get a free copy of the Zacks research report on Marvell Technology Group (MRVL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

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.