BidaskClub cut shares of Marvell Technology Group (NASDAQ:MRVL) from a buy rating to a hold rating in a research note released on Monday, BidAskClub reports.

A number of other brokerages also recently issued reports on MRVL. UBS Group lifted their price target on shares of Marvell Technology Group from $22.00 to $29.00 and gave the stock a buy rating in a research note on Wednesday, April 24th. Bank of America lifted their price target on shares of Marvell Technology Group from $24.00 to $28.00 and gave the stock a buy rating in a research note on Wednesday, April 17th. Piper Jaffray Companies raised their price objective on shares of Marvell Technology Group from $22.00 to $30.00 and gave the stock an overweight rating in a report on Friday, May 3rd. BMO Capital Markets raised their price objective on shares of Marvell Technology Group to $28.00 and gave the stock an outperform rating in a report on Tuesday, May 7th. Finally, Citigroup raised their price objective on shares of Marvell Technology Group from $22.00 to $28.00 and gave the stock a buy rating in a report on Wednesday, April 17th. Four equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $25.55.

Shares of Marvell Technology Group stock opened at $22.60 on Monday. Marvell Technology Group has a 52-week low of $14.34 and a 52-week high of $25.74. The company has a quick ratio of 1.76, a current ratio of 2.19 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $14.91 billion, a P/E ratio of 26.59, a PEG ratio of 4.11 and a beta of 1.11.

Marvell Technology Group (NASDAQ:MRVL) last issued its quarterly earnings results on Thursday, March 7th. The semiconductor company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.02). Marvell Technology Group had a positive return on equity of 7.95% and a negative net margin of 6.25%. The firm had revenue of $744.80 million during the quarter, compared to analysts’ expectations of $739.88 million. During the same quarter in the prior year, the firm earned $0.32 EPS. On average, equities research analysts anticipate that Marvell Technology Group will post 0.63 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 24th. Stockholders of record on Wednesday, April 3rd were issued a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, April 2nd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.06%. Marvell Technology Group’s payout ratio is 28.24%.

In other news, EVP Mitchell Gaynor sold 10,000 shares of Marvell Technology Group stock in a transaction on Friday, April 12th. The shares were sold at an average price of $23.64, for a total value of $236,400.00. Following the transaction, the executive vice president now directly owns 25,576 shares of the company’s stock, valued at approximately $604,616.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.10% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Utah Retirement Systems increased its stake in Marvell Technology Group by 0.6% in the 4th quarter. Utah Retirement Systems now owns 102,116 shares of the semiconductor company’s stock valued at $1,653,000 after buying an additional 600 shares during the period. Montag & Caldwell LLC increased its stake in Marvell Technology Group by 4.3% in the 1st quarter. Montag & Caldwell LLC now owns 20,250 shares of the semiconductor company’s stock valued at $403,000 after buying an additional 837 shares during the period. Rothschild Investment Corp IL increased its stake in Marvell Technology Group by 6.9% in the 4th quarter. Rothschild Investment Corp IL now owns 15,436 shares of the semiconductor company’s stock valued at $250,000 after buying an additional 1,000 shares during the period. Wilbanks Smith & Thomas Asset Management LLC increased its stake in Marvell Technology Group by 3.4% in the 1st quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 35,510 shares of the semiconductor company’s stock valued at $706,000 after buying an additional 1,161 shares during the period. Finally, Daiwa Securities Group Inc. boosted its position in shares of Marvell Technology Group by 5.5% during the 4th quarter. Daiwa Securities Group Inc. now owns 23,024 shares of the semiconductor company’s stock worth $373,000 after purchasing an additional 1,200 shares in the last quarter. 97.26% of the stock is currently owned by institutional investors.

About Marvell Technology Group

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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