BidaskClub cut shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) from a hold rating to a sell rating in a report issued on Tuesday morning.

MRVL has been the topic of a number of other research reports. CIBC upgraded Marvell Technology Group from a market perform rating to an outperform rating in a report on Friday, May 26th. TheStreet upgraded Marvell Technology Group from a c rating to a b rating in a report on Thursday, May 25th. Macquarie initiated coverage on Marvell Technology Group in a report on Thursday, March 30th. They set a neutral rating and a $16.00 price target on the stock. MKM Partners restated a buy rating and set a $20.00 price target on shares of Marvell Technology Group in a report on Thursday, April 6th. Finally, Needham & Company LLC restated a buy rating and set a $21.00 price target on shares of Marvell Technology Group in a report on Tuesday, April 18th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Marvell Technology Group presently has an average rating of Buy and an average target price of $18.44.

Shares of Marvell Technology Group (MRVL) traded down 1.76% during midday trading on Tuesday, hitting $15.59. The stock had a trading volume of 6,166,998 shares. The firm’s 50-day moving average price is $16.72 and its 200-day moving average price is $15.90. Marvell Technology Group has a 1-year low of $11.27 and a 1-year high of $18.18. The stock has a market cap of $7.84 billion, a price-to-earnings ratio of 52.67 and a beta of 1.11.

Marvell Technology Group (NASDAQ:MRVL) last released its quarterly earnings data on Thursday, May 25th. The semiconductor company reported $0.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.04. The firm had revenue of $579.18 million for the quarter, compared to the consensus estimate of $570.72 million. Marvell Technology Group had a return on equity of 7.96% and a net margin of 6.19%. The company’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.01 earnings per share. Analysts forecast that Marvell Technology Group will post $1.10 earnings per share for the current year.

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The company also recently disclosed a quarterly dividend, which was paid on Friday, July 21st. Shareholders of record on Wednesday, July 5th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.54%. The ex-dividend date was Friday, June 30th. Marvell Technology Group’s payout ratio is currently 82.76%.

A number of hedge funds have recently made changes to their positions in MRVL. Profund Advisors LLC raised its position in shares of Marvell Technology Group by 19.1% in the first quarter. Profund Advisors LLC now owns 80,048 shares of the semiconductor company’s stock worth $1,222,000 after buying an additional 12,821 shares during the period. First Trust Advisors LP raised its position in shares of Marvell Technology Group by 136.8% in the first quarter. First Trust Advisors LP now owns 364,273 shares of the semiconductor company’s stock worth $5,559,000 after buying an additional 210,421 shares during the period. Dynamic Technology Lab Private Ltd raised its position in shares of Marvell Technology Group by 18.2% in the first quarter. Dynamic Technology Lab Private Ltd now owns 20,203 shares of the semiconductor company’s stock worth $309,000 after buying an additional 3,106 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Marvell Technology Group by 454.8% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,777 shares of the semiconductor company’s stock worth $122,000 after buying an additional 7,195 shares during the period. Finally, Dai Ichi Life Insurance Company Ltd raised its position in shares of Marvell Technology Group by 19.0% in the first quarter. Dai Ichi Life Insurance Company Ltd now owns 471,404 shares of the semiconductor company’s stock worth $7,194,000 after buying an additional 75,360 shares during the period. 74.19% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Marvell Technology Group (NASDAQ:MRVL)

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