Todays Report: The Marvell Technology Group Ltd. (MRVL) Lowered to Sell at Vetr Inc.

The Marvell Technology Group Ltd. (MRVL) Lowered to Sell at Vetr Inc.

Vetr downgraded shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) from a hold rating to a sell rating in a research report sent to investors on Thursday morning. Vetr currently has $12.78 price target on the stock.

Other analysts have also recently issued research reports about the company. B. Riley reaffirmed a buy rating and issued a $15.00 price target on shares of Marvell Technology Group in a research report on Sunday, June 26th. Zacks Investment Research cut Marvell Technology Group from a hold rating to a strong sell rating in a research report on Monday, July 25th. Four research analysts have rated the stock with a sell rating, eighteen have given a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $12.59.

Shares of Marvell Technology Group (NASDAQ:MRVL) traded down 0.08% on Thursday, hitting $13.17. The stock had a trading volume of 878,315 shares. Marvell Technology Group has a 1-year low of $7.40 and a 1-year high of $13.56. The firm’s 50-day moving average is $12.67 and its 200 day moving average is $10.90. The stock’s market cap is $6.74 billion.

Marvell Technology Group (NASDAQ:MRVL) last issued its earnings results on Tuesday, September 6th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.07. Marvell Technology Group had a positive return on equity of 1.35% and a negative net margin of 1.18%. The firm had revenue of $626 million for the quarter, compared to the consensus estimate of $629.96 million. During the same quarter in the previous year, the company posted $0.12 earnings per share. The business’s quarterly revenue was down 11.8% compared to the same quarter last year. Equities analysts forecast that Marvell Technology Group will post $0.44 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 19th. Investors of record on Wednesday, September 28th will be given a dividend of $0.06 per share. The ex-dividend date is Monday, September 26th. This represents a $0.24 dividend on an annualized basis and a yield of 1.82%. Marvell Technology Group’s dividend payout ratio (DPR) is presently -480.00%.

A number of large investors have recently added to or reduced their stakes in the company. Allianz Asset Management AG raised its stake in Marvell Technology Group by 21,756.7% in the second quarter. Allianz Asset Management AG now owns 2,466,314 shares of the company’s stock worth $23,504,000 after buying an additional 2,455,030 shares during the period. JPMorgan Chase & Co. raised its stake in Marvell Technology Group by 16.8% in the first quarter. JPMorgan Chase & Co. now owns 16,982,811 shares of the company’s stock worth $175,094,000 after buying an additional 2,438,649 shares during the period. Teacher Retirement System of Texas raised its stake in Marvell Technology Group by 9,865.0% in the second quarter. Teacher Retirement System of Texas now owns 2,247,006 shares of the company’s stock worth $21,414,000 after buying an additional 2,224,457 shares during the period. Roystone Capital Management LP raised its stake in Marvell Technology Group by 70.6% in the second quarter. Roystone Capital Management LP now owns 4,485,600 shares of the company’s stock worth $42,747,000 after buying an additional 1,855,600 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in Marvell Technology Group during the first quarter worth approximately $12,977,000. Institutional investors and hedge funds own 70.60% of the company’s stock.

About Marvell Technology Group

Marvell Technology Group Ltd. (Marvell) is a fabless semiconductor provider of application-specific standard products. The Company develops System-on-a-Chip (SoC) devices. Its product portfolio includes devices for data storage, enterprise-class Ethernet data switching, Ethernet physical-layer transceivers (PHY), mobile handsets, connectivity, Internet-of-Things (IoT) devices and other consumer electronics.

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