Marvell Technology Group’s (MRVL) Buy Rating Reaffirmed at Susquehanna Bancshares

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Marvell Technology Group (NASDAQ:MRVL)‘s stock had its “buy” rating reiterated by Susquehanna Bancshares in a research report issued on Monday, TipRanks reports. They currently have a $28.00 price target on the semiconductor company’s stock. Susquehanna Bancshares’ target price suggests a potential upside of 8.49% from the company’s current price.

Several other equities analysts have also issued reports on the company. JPMorgan Chase & Co. set a $27.00 price target on Marvell Technology Group and gave the stock a “buy” rating in a research report on Friday, August 30th. Wells Fargo & Co upgraded Marvell Technology Group from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $25.00 to $32.00 in a research report on Monday, November 4th. Citigroup lowered Marvell Technology Group to a “buy” rating and set a $29.00 price target on the stock. in a research report on Friday, August 30th. Bank of America set a $28.00 price target on Marvell Technology Group and gave the stock a “buy” rating in a research report on Friday, August 30th. Finally, ValuEngine lowered Marvell Technology Group from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-two have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $27.42.

MRVL traded down $0.56 on Monday, hitting $25.81. 7,092,063 shares of the company were exchanged, compared to its average volume of 9,989,479. The firm has a fifty day simple moving average of $25.51 and a two-hundred day simple moving average of $24.67. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.68 and a current ratio of 3.06. Marvell Technology Group has a 12 month low of $14.34 and a 12 month high of $28.38. The stock has a market capitalization of $17.59 billion, a PE ratio of 30.36, a price-to-earnings-growth ratio of 12.69 and a beta of 1.19.

Marvell Technology Group (NASDAQ:MRVL) last posted its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.11. Marvell Technology Group had a positive return on equity of 5.25% and a negative net margin of 14.42%. The business had revenue of $656.56 million for the quarter, compared to analyst estimates of $650.29 million. During the same period last year, the company earned $0.28 EPS. Marvell Technology Group’s revenue for the quarter was down 1.3% compared to the same quarter last year. On average, equities analysts expect that Marvell Technology Group will post 0.34 earnings per share for the current year.

In other news, CEO Matthew J. Murphy sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $28.00, for a total value of $2,800,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jean X. Hu sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $26.86, for a total value of $268,600.00. In the last 90 days, insiders sold 370,933 shares of company stock valued at $9,666,982. 1.10% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in MRVL. Nisa Investment Advisors LLC lifted its stake in shares of Marvell Technology Group by 85.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 19,640 shares of the semiconductor company’s stock valued at $469,000 after purchasing an additional 9,040 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in Marvell Technology Group by 12.0% during the second quarter. Robeco Institutional Asset Management B.V. now owns 353,102 shares of the semiconductor company’s stock valued at $8,425,000 after buying an additional 37,710 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in Marvell Technology Group by 190.1% during the second quarter. Daiwa Securities Group Inc. now owns 66,791 shares of the semiconductor company’s stock valued at $1,595,000 after buying an additional 43,767 shares during the last quarter. Arizona State Retirement System raised its stake in Marvell Technology Group by 55.1% during the second quarter. Arizona State Retirement System now owns 186,192 shares of the semiconductor company’s stock valued at $4,444,000 after buying an additional 66,169 shares during the last quarter. Finally, Ion Asset Management Ltd. purchased a new position in Marvell Technology Group during the second quarter valued at $573,000. Institutional investors own 96.38% of the company’s stock.

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, including hard disk drive (HDD) and solid-state drive controllers, as well as preamplifiers; supports a variety of host system interfaces consisting of serial attached SCSI (SAS), serial advanced technology attachment (SATA), peripheral component interconnect express, and non-volatile memory express; and develops software-enabled silicon solutions comprising SATA port multipliers, bridges, SATA, SAS, and non-volatile memory express redundant array of independent disks controllers and converged storage processors for enterprises, data centers, and cloud computing businesses.

Read More: Why Net Income is Important to Investors

Analyst Recommendations for Marvell Technology Group (NASDAQ:MRVL)

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