Wall Street brokerages forecast that Marvell Technology Group Ltd. (NASDAQ:MRVL) will report earnings of $0.31 per share for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Marvell Technology Group’s earnings, with the highest EPS estimate coming in at $0.32 and the lowest estimate coming in at $0.31. Marvell Technology Group reported earnings of $0.22 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 40.9%. The firm is scheduled to announce its next quarterly earnings report on Thursday, March 1st.

According to Zacks, analysts expect that Marvell Technology Group will report full-year earnings of $1.19 per share for the current financial year, with EPS estimates ranging from $1.18 to $1.20. For the next year, analysts anticipate that the company will report earnings of $1.33 per share, with EPS estimates ranging from $1.22 to $1.48. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Marvell Technology Group.

Marvell Technology Group (NASDAQ:MRVL) last posted its earnings results on Tuesday, November 28th. The semiconductor company reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.01. Marvell Technology Group had a net margin of 16.53% and a return on equity of 11.93%. The business had revenue of $616.00 million for the quarter, compared to analysts’ expectations of $613.49 million. During the same period in the prior year, the company posted $0.20 EPS. The business’s revenue for the quarter was down 5.8% compared to the same quarter last year.

Several research firms have recently weighed in on MRVL. B. Riley restated a “buy” rating and set a $24.00 price objective on shares of Marvell Technology Group in a research report on Monday, September 25th. Citigroup upgraded shares of Marvell Technology Group from a “sell” rating to a “neutral” rating and set a $22.00 price objective on the stock in a research report on Tuesday, November 7th. Benchmark upgraded shares of Marvell Technology Group from a “hold” rating to a “buy” rating and raised their price objective for the company from $17.00 to $30.00 in a research report on Monday, November 20th. Zacks Investment Research upgraded shares of Marvell Technology Group from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research report on Tuesday, November 21st. Finally, Piper Jaffray Companies began coverage on shares of Marvell Technology Group in a research report on Monday, December 18th. They set an “overweight” rating and a $25.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $23.92.

Shares of Marvell Technology Group (NASDAQ:MRVL) opened at $23.15 on Friday. The firm has a market cap of $11,370.00, a price-to-earnings ratio of 40.61, a PEG ratio of 1.39 and a beta of 1.12. Marvell Technology Group has a 52-week low of $13.83 and a 52-week high of $24.22.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Wednesday, December 27th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend is Tuesday, December 26th. Marvell Technology Group’s dividend payout ratio is currently 42.11%.

In other Marvell Technology Group news, insider Marvell Semiconductor, Inc. Ca sold 9,812 shares of the firm’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $21.20, for a total value of $208,014.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Sehat Sutardja sold 474,771 shares of the firm’s stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $18.48, for a total transaction of $8,773,768.08. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,813,418 shares of company stock worth $33,627,308. 6.80% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in MRVL. Boston Partners grew its holdings in Marvell Technology Group by 51.4% in the 3rd quarter. Boston Partners now owns 12,205,587 shares of the semiconductor company’s stock worth $218,480,000 after acquiring an additional 4,143,929 shares during the last quarter. Epoch Investment Partners Inc. grew its holdings in Marvell Technology Group by 981.1% in the 3rd quarter. Epoch Investment Partners Inc. now owns 3,983,148 shares of the semiconductor company’s stock worth $71,298,000 after acquiring an additional 3,614,719 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Marvell Technology Group by 239.6% in the 2nd quarter. Renaissance Technologies LLC now owns 3,886,158 shares of the semiconductor company’s stock worth $64,199,000 after acquiring an additional 2,741,914 shares during the last quarter. Allianz Asset Management GmbH grew its holdings in Marvell Technology Group by 38.8% in the 3rd quarter. Allianz Asset Management GmbH now owns 4,760,965 shares of the semiconductor company’s stock worth $85,221,000 after acquiring an additional 1,331,765 shares during the last quarter. Finally, TD Asset Management Inc. grew its holdings in Marvell Technology Group by 88.3% in the 3rd quarter. TD Asset Management Inc. now owns 2,022,923 shares of the semiconductor company’s stock worth $36,210,000 after acquiring an additional 948,804 shares during the last quarter. 78.70% of the stock is currently owned by institutional investors and hedge funds.

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About Marvell Technology Group

Marvell Technology Group Ltd. is a semiconductor provider of application-specific standard products. The Company is engaged in the design, development and sale of integrated circuits. The Company develops System-on-a-Chip (SoC) devices. It also develops integrated hardware platforms along with software that incorporates digital computing technologies designed and configured to provide an optimized computing solution.

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Earnings History and Estimates for Marvell Technology Group (NASDAQ:MRVL)

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