Marvell Technology Group (MRVL) Raised to “Buy” at Stifel Nicolaus

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Stifel Nicolaus upgraded shares of Marvell Technology Group (NASDAQ:MRVL) from a hold rating to a buy rating in a report issued on Friday morning, Marketbeat reports. Stifel Nicolaus currently has $21.00 price target on the semiconductor company’s stock.

Other equities analysts have also issued research reports about the stock. BidaskClub lowered shares of Marvell Technology Group from a sell rating to a strong sell rating in a research report on Thursday, August 2nd. Cowen dropped their target price on shares of Marvell Technology Group from $29.00 to $26.00 and set an outperform rating on the stock in a research report on Monday, August 27th. ValuEngine raised shares of Marvell Technology Group from a hold rating to a buy rating in a research report on Thursday, June 28th. B. Riley dropped their target price on shares of Marvell Technology Group from $30.00 to $26.00 and set a buy rating on the stock in a research report on Wednesday. Finally, Deutsche Bank raised shares of Marvell Technology Group from a hold rating to a buy rating and set a $13.00 target price on the stock in a research report on Tuesday, June 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-two have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $25.77.

Shares of NASDAQ:MRVL traded up $0.29 during trading on Friday, reaching $18.01. The stock had a trading volume of 12,997,398 shares, compared to its average volume of 9,366,493. Marvell Technology Group has a 52 week low of $17.18 and a 52 week high of $25.18. The firm has a market cap of $12.71 billion, a price-to-earnings ratio of 17.32, a P/E/G ratio of 2.31 and a beta of 0.96. The company has a quick ratio of 1.76, a current ratio of 2.54 and a debt-to-equity ratio of 0.25.

Marvell Technology Group (NASDAQ:MRVL) last released its quarterly earnings results on Thursday, September 6th. The semiconductor company reported $0.28 EPS for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.01). Marvell Technology Group had a net margin of 15.36% and a return on equity of 10.70%. The firm had revenue of $665.31 million during the quarter, compared to the consensus estimate of $685.00 million. During the same period in the prior year, the business earned $0.30 EPS. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. Research analysts predict that Marvell Technology Group will post 0.86 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 23rd. Shareholders of record on Tuesday, October 2nd will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.33%. The ex-dividend date is Monday, October 1st. Marvell Technology Group’s dividend payout ratio (DPR) is presently 23.08%.

In other Marvell Technology Group news, CEO Matthew J. Murphy sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $20.64, for a total value of $206,400.00. Following the sale, the chief executive officer now owns 1,755 shares of the company’s stock, valued at approximately $36,223.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.10% of the company’s stock.

A number of institutional investors have recently made changes to their positions in MRVL. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new stake in Marvell Technology Group in the 2nd quarter valued at $117,000. MUFG Americas Holdings Corp bought a new stake in Marvell Technology Group in the 2nd quarter valued at $120,000. Cerebellum GP LLC bought a new stake in Marvell Technology Group in the 3rd quarter valued at $183,000. Point72 Asia Hong Kong Ltd bought a new stake in Marvell Technology Group in the 1st quarter valued at $184,000. Finally, Commonwealth Bank of Australia increased its holdings in Marvell Technology Group by 1,142.9% in the 2nd quarter. Commonwealth Bank of Australia now owns 8,700 shares of the semiconductor company’s stock valued at $185,000 after buying an additional 8,000 shares during the period. 81.56% of the stock is currently owned by hedge funds and other institutional investors.

About Marvell Technology Group

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, including 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 comprising 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 enterprises, data centers, and cloud computing businesses.

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Analyst Recommendations for Marvell Technology Group (NASDAQ:MRVL)

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