$800.39 Million in Sales Expected for Marvell Technology Group Ltd. (NASDAQ:MRVL) This Quarter
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.
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.
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