TheStreet Upgrades Marvell Technology Group (NASDAQ:MRVL) to B-

Marvell Technology Group (NASDAQ:MRVL) was upgraded by TheStreet from a “c+” rating to a “b-” rating in a report issued on Monday, April 16th.

Other equities research analysts have also recently issued research reports about the stock. UBS began coverage on shares of Marvell Technology Group in a research note on Wednesday, April 4th. They issued a “buy” rating for the company. Zacks Investment Research raised shares of Marvell Technology Group from a “sell” rating to a “hold” rating in a research note on Tuesday, March 20th. BidaskClub raised shares of Marvell Technology Group from a “hold” rating to a “buy” rating in a research report on Friday, February 23rd. Cowen increased their price target on shares of Marvell Technology Group from $21.00 to $29.00 and gave the company an “outperform” rating in a research report on Friday, March 9th. Finally, Argus assumed coverage on shares of Marvell Technology Group in a report on Wednesday, March 7th. They issued a “buy” rating and a $28.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. Marvell Technology Group currently has an average rating of “Buy” and a consensus target price of $25.59.

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Marvell Technology Group stock traded up $0.29 during midday trading on Monday, reaching $20.65. 10,595,088 shares of the stock were exchanged, compared to its average volume of 8,589,751. Marvell Technology Group has a 52 week low of $14.64 and a 52 week high of $25.18. The firm has a market capitalization of $10,108.74, a PE ratio of 19.86, a price-to-earnings-growth ratio of 1.57 and a beta of 0.97.

Marvell Technology Group (NASDAQ:MRVL) last released its quarterly earnings results on Thursday, March 8th. The semiconductor company reported $0.32 EPS for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.01. Marvell Technology Group had a net margin of 21.56% and a return on equity of 13.13%. The business had revenue of $615.40 million during the quarter, compared to analysts’ expectations of $610.99 million. During the same quarter in the previous year, the company earned $0.22 EPS. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. research analysts anticipate that Marvell Technology Group will post 1.16 earnings per share for the current year.

In related news, CEO Matthew J. Murphy sold 30,000 shares of the business’s stock in a transaction on Monday, March 12th. The shares were sold at an average price of $24.24, for a total value of $727,200.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Marvell Semiconductor, Inc. Ca sold 3,310 shares of the business’s stock in a transaction on Wednesday, April 18th. The stock was sold at an average price of $22.40, for a total transaction of $74,144.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,310 shares of company stock worth $1,001,344. Company insiders own 6.80% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Public Employees Retirement Association of Colorado increased its position in Marvell Technology Group by 3.0% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 82,258 shares of the semiconductor company’s stock worth $1,766,000 after purchasing an additional 2,388 shares during the last quarter. Hoertkorn Richard Charles boosted its stake in Marvell Technology Group by 0.9% during the fourth quarter. Hoertkorn Richard Charles now owns 306,718 shares of the semiconductor company’s stock worth $6,585,000 after buying an additional 2,600 shares during the period. US Bancorp DE boosted its stake in Marvell Technology Group by 0.6% during the fourth quarter. US Bancorp DE now owns 436,306 shares of the semiconductor company’s stock worth $9,368,000 after buying an additional 2,674 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in Marvell Technology Group by 7.1% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 54,821 shares of the semiconductor company’s stock worth $1,177,000 after buying an additional 3,651 shares during the period. Finally, Amalgamated Bank boosted its stake in Marvell Technology Group by 5.0% during the fourth quarter. Amalgamated Bank now owns 76,424 shares of the semiconductor company’s stock worth $1,641,000 after buying an additional 3,660 shares during the period. Institutional investors own 91.40% of the company’s stock.

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Marvell Technology Group Company Profile

Marvell Technology Group Ltd. designs, develops, and markets analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a range of storage products, such as hard disk drive (HDD) and solid-state drive controllers, as well as HDD components, such as HDD preamps components; and develops software enabled silicon solutions consisting of serial advanced technology attachment port multipliers, bridges, serial attached SCSI, and non-volatile memory express redundant array of independent disks controllers and converged storage processors for enterprise, data centers, and cloud computing businesses.

Analyst Recommendations for Marvell Technology Group (NASDAQ:MRVL)

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