Marvell Technology Group (NASDAQ:MRVL) Downgraded by BidaskClub

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BidaskClub downgraded shares of Marvell Technology Group (NASDAQ:MRVL) from a hold rating to a sell rating in a report published on Friday morning, BidAskClub reports.

MRVL has been the topic of a number of other reports. BMO Capital Markets cut shares of Marvell Technology Group from an outperform rating to a market perform rating and set a $28.00 price objective on the stock. in a research note on Wednesday, December 4th. Zacks Investment Research cut shares of Marvell Technology Group from a hold rating to a sell rating and set a $25.00 target price for the company. in a research report on Friday, October 11th. Needham & Company LLC restated a buy rating and set a $28.00 target price on shares of Marvell Technology Group in a research report on Sunday, September 1st. Morgan Stanley upped their price target on shares of Marvell Technology Group from $20.00 to $24.00 and gave the company an equal weight rating in a report on Wednesday, December 4th. Finally, Susquehanna Bancshares reiterated a buy rating and issued a $28.00 price target on shares of Marvell Technology Group in a research report on Monday, December 2nd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twenty have assigned a buy rating to the company. The company currently has an average rating of Buy and an average target price of $28.12.

Shares of MRVL stock opened at $24.17 on Friday. The stock has a fifty day moving average price of $25.67 and a 200 day moving average price of $24.75. The stock has a market cap of $16.21 billion, a PE ratio of 28.44, a P/E/G ratio of 11.22 and a beta of 1.19. Marvell Technology Group has a 1 year low of $14.34 and a 1 year high of $28.38. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.41 and a current ratio of 2.88.

Marvell Technology Group (NASDAQ:MRVL) last posted its earnings results on Tuesday, December 3rd. The semiconductor company reported $0.17 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.17. Marvell Technology Group had a positive return on equity of 3.59% and a negative net margin of 16.47%. The company had revenue of $662.00 million for the quarter, compared to analyst estimates of $660.94 million. During the same quarter in the prior year, the company earned $0.33 earnings per share. Marvell Technology Group’s revenue was down 22.2% compared to the same quarter last year. As a group, equities research analysts predict that Marvell Technology Group will post 0.28 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, December 26th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.99%. Marvell Technology Group’s dividend payout ratio (DPR) is 28.24%.

In other Marvell Technology Group news, CFO Jean X. Hu sold 10,000 shares of Marvell Technology Group stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $26.86, for a total value of $268,600.00. Also, EVP Mitchell Gaynor sold 35,000 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $26.07, for a total transaction of $912,450.00. Following the sale, the executive vice president now directly owns 51,104 shares of the company’s stock, valued at $1,332,281.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 251,077 shares of company stock valued at $6,715,078. Corporate insiders own 1.10% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in MRVL. Sheaff Brock Investment Advisors LLC increased its stake in Marvell Technology Group by 8.6% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 39,508 shares of the semiconductor company’s stock worth $987,000 after acquiring an additional 3,131 shares during the last quarter. Worldquant Millennium Advisors LLC purchased a new stake in shares of Marvell Technology Group during the 3rd quarter worth about $17,649,000. Northern Oak Wealth Management Inc. purchased a new stake in shares of Marvell Technology Group during the 3rd quarter worth about $126,000. Signaturefd LLC increased its position in Marvell Technology Group by 27.2% during the 2nd quarter. Signaturefd LLC now owns 1,859 shares of the semiconductor company’s stock worth $44,000 after purchasing an additional 397 shares in the last quarter. Finally, Cookson Peirce & Co. Inc. acquired a new stake in Marvell Technology Group during the 3rd quarter worth approximately $25,567,000. Institutional investors and hedge funds own 96.32% 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.

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Analyst Recommendations for Marvell Technology Group (NASDAQ:MRVL)

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