Marvell Technology Group Ltd. (NASDAQ:MRVL) has been assigned a $12.00 target price by investment analysts at Benchmark Co. in a note issued to investors on Sunday. The firm presently has a “hold” rating on the stock. Benchmark Co.’s price objective would suggest a potential downside of 18.14% from the stock’s previous close.
A number of other research analysts have also commented on the stock. Brean Capital reaffirmed a “buy” rating and set a $16.00 price objective (up from $15.00) on shares of Marvell Technology Group in a report on Sunday, November 6th. Zacks Investment Research downgraded shares of Marvell Technology Group from a “buy” rating to a “hold” rating in a report on Friday, November 4th. Needham & Company LLC reissued a “hold” rating on shares of Marvell Technology Group in a research note on Thursday, November 3rd. Vetr raised shares of Marvell Technology Group from a “buy” rating to a “strong-buy” rating and set a $15.25 price target for the company in a research note on Tuesday, November 1st. Finally, Credit Suisse Group AG raised shares of Marvell Technology Group from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $13.50 to $17.50 in a research note on Wednesday, October 12th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $14.00.
Marvell Technology Group (NASDAQ:MRVL) traded down 0.20% on Friday, hitting $14.66. The stock had a trading volume of 1,412,732 shares. The stock has a 50-day moving average of $13.24 and a 200-day moving average of $11.67. The company’s market cap is $7506.52 billion. Marvell Technology Group has a one year low of $7.40 and a one year high of $14.99.
Marvell Technology Group (NASDAQ:MRVL) last posted its earnings results on Thursday, November 17th. The company reported $0.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.08. Marvell Technology Group had a net margin of 4.33% and a return on equity of 3.28%. The firm had revenue of $654 million for the quarter, compared to analysts’ expectations of $615.66 million. During the same quarter last year, the firm earned $0.05 EPS. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. Equities analysts expect that Marvell Technology Group will post $0.45 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 28th. Shareholders of record on Tuesday, December 6th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, December 2nd. This represents a $0.24 annualized dividend and a yield of 1.64%. Marvell Technology Group’s dividend payout ratio (DPR) is currently 114.29%.
Several large investors have recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. increased its position in Marvell Technology Group by 23.6% in the second quarter. Daiwa Securities Group Inc. now owns 11,000 shares of the company’s stock worth $105,000 after buying an additional 2,100 shares during the period. Hartford Investment Management Co. acquired a new position in Marvell Technology Group during the second quarter worth approximately $110,000. Ardsley Advisory Partners acquired a new position in Marvell Technology Group during the third quarter worth approximately $159,000. Franklin Resources Inc. acquired a new position in Marvell Technology Group during the first quarter worth approximately $132,000. Finally, YHB Investment Advisors Inc. acquired a new position in Marvell Technology Group during the third quarter worth approximately $174,000. Hedge funds and other institutional investors own 68.13% of the company’s stock.
Marvell Technology Group Company Profile