Marvell Technology Group Ltd. (NASDAQ:MRVL) – Oppenheimer Holdings increased their Q3 2018 EPS estimates for Marvell Technology Group in a research note issued to investors on Monday. Oppenheimer Holdings analyst R. Schafer now expects that the semiconductor company will post earnings of $0.29 per share for the quarter, up from their previous forecast of $0.28. Oppenheimer Holdings has a “Outperform” rating and a $30.00 price objective on the stock. Oppenheimer Holdings also issued estimates for Marvell Technology Group’s FY2018 earnings at $0.99 EPS and Q3 2019 earnings at $0.30 EPS.

Several other equities analysts have also weighed in on the stock. Craig Hallum reiterated a “buy” rating on shares of Marvell Technology Group in a report on Tuesday. Needham & Company LLC boosted their target price on shares of Marvell Technology Group from $21.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday. Zacks Investment Research upgraded shares of Marvell Technology Group from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a report on Tuesday. Loop Capital reiterated a “buy” rating and issued a $26.00 target price on shares of Marvell Technology Group in a report on Tuesday. Finally, Jefferies Group LLC upgraded shares of Marvell Technology Group from a “hold” rating to a “buy” rating and set a $18.50 target price on the stock in a report on Tuesday. One analyst has rated the stock with a sell rating, six have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $21.59.

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Marvell Technology Group (MRVL) traded up $0.55 during trading hours on Wednesday, reaching $23.83. 27,234,801 shares of the company’s stock traded hands, compared to its average volume of 6,637,551. The firm has a market cap of $12,090.00, a price-to-earnings ratio of 30.55, a price-to-earnings-growth ratio of 1.68 and a beta of 1.05. Marvell Technology Group has a 12 month low of $13.59 and a 12 month high of $24.22.

Marvell Technology Group (NASDAQ:MRVL) last posted its quarterly earnings results on Thursday, August 24th. The semiconductor company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.03). The business had revenue of $604.75 million for the quarter, compared to analyst estimates of $600.76 million. Marvell Technology Group had a return on equity of 9.99% and a net margin of 10.97%. The business’s revenue was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.18 earnings per share.

Several hedge funds have recently modified their holdings of MRVL. Boston Partners acquired a new position in shares of Marvell Technology Group in the 2nd quarter worth approximately $133,179,000. Epoch Investment Partners Inc. lifted its holdings in shares of 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 increased its stake in Marvell Technology Group by 239.6% during the 2nd quarter. Renaissance Technologies LLC now owns 3,886,158 shares of the semiconductor company’s stock worth $64,199,000 after buying an additional 2,741,914 shares during the period. Jennison Associates LLC purchased a new stake in Marvell Technology Group during the 2nd quarter worth approximately $36,663,000. Finally, TimesSquare Capital Management LLC increased its stake in Marvell Technology Group by 60.2% during the 2nd quarter. TimesSquare Capital Management LLC now owns 4,461,600 shares of the semiconductor company’s stock worth $73,706,000 after buying an additional 1,677,100 shares during the period. Hedge funds and other institutional investors own 77.03% of the company’s stock.

In other news, major shareholder Sehat Sutardja sold 537,235 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $17.57, for a total value of $9,439,218.95. The sale was disclosed in a document filed with the SEC, which is available through this link. Over the last 90 days, insiders sold 17,558,035 shares of company stock worth $320,838,284. Company insiders own 6.80% of the company’s stock.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 26th. Stockholders of record on Tuesday, October 10th were issued a $0.06 dividend. The ex-dividend date was Friday, October 6th. This represents a $0.24 annualized dividend and a dividend yield of 1.01%. Marvell Technology Group’s dividend payout ratio is currently 54.55%.

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.

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

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