Marvell Technology Group Ltd. (NASDAQ:MRVL) Lowered to “Sell” at BidaskClub

BidaskClub cut shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) from a hold rating to a sell rating in a research report sent to investors on Tuesday, July 25th.

Several other analysts have also weighed in on the company. Zacks Investment Research lowered Marvell Technology Group from a buy rating to a hold rating in a report on Wednesday, May 3rd. B. Riley reaffirmed a buy rating and set a $23.00 price objective on shares of Marvell Technology Group in a research note on Wednesday, June 28th. Needham & Company LLC reaffirmed a buy rating and set a $21.00 price objective on shares of Marvell Technology Group in a research note on Tuesday, April 18th. TheStreet raised Marvell Technology Group from a c rating to a b rating in a research note on Thursday, May 25th. Finally, MKM Partners reaffirmed a buy rating and set a $20.00 price objective on shares of Marvell Technology Group in a research note on Thursday, April 6th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of Buy and an average target price of $18.44.

Marvell Technology Group (NASDAQ:MRVL) traded up 2.26% during trading on Tuesday, hitting $15.39. 3,849,629 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $16.16 and its 200 day moving average price is $15.98. Marvell Technology Group has a 12-month low of $11.30 and a 12-month high of $18.18. The firm has a market cap of $7.74 billion, a price-to-earnings ratio of 51.99 and a beta of 1.10.

Marvell Technology Group (NASDAQ:MRVL) last posted its earnings results on Thursday, May 25th. The semiconductor company reported $0.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.04. The company had revenue of $579.18 million for the quarter, compared to analyst estimates of $570.72 million. Marvell Technology Group had a return on equity of 7.96% and a net margin of 6.19%. Marvell Technology Group’s revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.01 earnings per share. Equities analysts forecast that Marvell Technology Group will post $1.10 earnings per share for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which was paid on Friday, July 21st. Stockholders of record on Wednesday, July 5th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date was Friday, June 30th. Marvell Technology Group’s dividend payout ratio is presently 82.76%.

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Marvell Technology Group by 0.9% in the second quarter. Vanguard Group Inc. now owns 32,190,297 shares of the semiconductor company’s stock worth $531,785,000 after buying an additional 290,339 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Marvell Technology Group by 4,078.2% in the first quarter. BlackRock Inc. now owns 24,309,056 shares of the semiconductor company’s stock worth $370,955,000 after buying an additional 23,727,243 shares in the last quarter. State Street Corp boosted its stake in shares of Marvell Technology Group by 3.6% in the first quarter. State Street Corp now owns 9,846,772 shares of the semiconductor company’s stock worth $150,267,000 after buying an additional 341,686 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of Marvell Technology Group by 2.3% in the second quarter. UBS Asset Management Americas Inc. now owns 8,901,332 shares of the semiconductor company’s stock worth $147,050,000 after buying an additional 195,985 shares in the last quarter. Finally, Boston Partners bought a new stake in shares of Marvell Technology Group during the second quarter worth $133,179,000. Institutional investors and hedge funds own 74.62% of the company’s stock.

Marvell Technology Group Company Profile

Marvell Technology Group Ltd. is a semiconductor provider of application-specific standard products. The Company is engaged in the design, development and sale of integrated circuits. The Company develops System-on-a-Chip (SoC) devices. It also develops integrated hardware platforms along with software that incorporates digital computing technologies designed and configured to provide an optimized computing solution.

Analyst Recommendations for Marvell Technology Group (NASDAQ:MRVL)

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