Marvell Technology Group Ltd. (NASDAQ:MRVL)‘s stock had its “hold” rating restated by investment analysts at BMO Capital Markets in a research note issued on Thursday. They presently have a $11.00 price target on the stock. BMO Capital Markets’ target price indicates a potential downside of 5.74% from the company’s current price.
MRVL has been the subject of several other reports. B. Riley reissued a “buy” rating and set a $12.00 price target on shares of Marvell Technology Group in a research report on Monday, April 11th. Brean Capital raised Marvell Technology Group from a “hold” rating to a “buy” rating and set a $12.50 price target for the company in a research report on Tuesday, April 5th. FBR & Co reissued a “market perform” rating and set a $11.00 price target on shares of Marvell Technology Group in a research report on Friday, April 1st. Cowen and Company reissued an “outperform” rating and set a $15.00 price target on shares of Marvell Technology Group in a research report on Thursday, April 7th. Finally, Morgan Stanley raised their price objective on Marvell Technology Group from $10.50 to $12.00 in a research report on Wednesday, April 6th. Four investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $11.57.
Marvell Technology Group (NASDAQ:MRVL) traded up 1.89% during mid-day trading on Thursday, hitting $11.89. The stock had a trading volume of 17,071,597 shares. The firm’s market capitalization is $6.08 billion. The stock’s 50 day moving average price is $10.16 and its 200 day moving average price is $9.77. Marvell Technology Group has a one year low of $7.40 and a one year high of $13.35.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 12th. Shareholders of record on Tuesday, June 14th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend was Friday, June 10th.
Several large investors have modified their holdings of the stock. Envestnet Asset Management Inc. increased its stake in shares of Marvell Technology Group by 12.4% in the first quarter. Envestnet Asset Management Inc. now owns 14,273 shares of the company’s stock worth $147,000 after buying an additional 1,575 shares in the last quarter. LS Investment Advisors LLC increased its stake in Marvell Technology Group by 12.2% in the second quarter. LS Investment Advisors LLC now owns 16,557 shares of the company’s stock valued at $158,000 after buying an additional 1,794 shares during the period. Nisa Investment Advisors L.L.C. increased its stake in Marvell Technology Group by 5.9% in the first quarter. Nisa Investment Advisors L.L.C. now owns 37,800 shares of the company’s stock valued at $390,000 after buying an additional 2,100 shares during the period. Daiwa Securities Group Inc. increased its stake in Marvell Technology Group by 23.6% in the second quarter. Daiwa Securities Group Inc. now owns 11,000 shares of the company’s stock valued at $105,000 after buying an additional 2,100 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its stake in Marvell Technology Group by 0.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,508,118 shares of the company’s stock valued at $15,549,000 after buying an additional 4,540 shares during the period.
Marvell Technology Group Ltd. (Marvell) is a fabless semiconductor provider of application-specific standard products. The Company develops System-on-a-Chip (SoC) devices. Its product portfolio includes devices for data storage, enterprise-class Ethernet data switching, Ethernet physical-layer transceivers (PHY), mobile handsets, connectivity, Internet-of-Things (IoT) devices and other consumer electronics.
