Marvell Technology Group (NASDAQ:MRVL) had its price objective trimmed by Benchmark to $30.00 in a research note issued to investors on Sunday morning.

Other equities research analysts have also recently issued reports about the stock. Stifel Nicolaus raised shares of Marvell Technology Group from a hold rating to a buy rating and set a $21.00 target price for the company in a report on Friday, October 12th. B. Riley reduced their target price on shares of Marvell Technology Group from $30.00 to $26.00 and set a buy rating for the company in a report on Wednesday, October 10th. Goldman Sachs Group started coverage on shares of Marvell Technology Group in a report on Tuesday, September 18th. They issued a buy rating and a $23.00 target price for the company. Rosenblatt Securities reaffirmed a buy rating and issued a $27.00 target price on shares of Marvell Technology Group in a report on Sunday, September 9th. Finally, Zacks Investment Research reaffirmed a buy rating and issued a $19.00 target price on shares of Marvell Technology Group in a report on Wednesday, November 14th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and seventeen have given a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $25.30.

Shares of NASDAQ:MRVL opened at $15.50 on Friday. Marvell Technology Group has a one year low of $14.69 and a one year high of $25.18. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.54 and a quick ratio of 1.76. The stock has a market capitalization of $10.61 billion, a PE ratio of 14.90, a price-to-earnings-growth ratio of 2.08 and a beta of 1.01.

Marvell Technology Group (NASDAQ:MRVL) last announced its earnings results on Tuesday, December 4th. The semiconductor company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. Marvell Technology Group had a net margin of 15.36% and a return on equity of 10.70%. The business had revenue of $851.05 million during the quarter, compared to analysts’ expectations of $844.07 million. During the same period in the prior year, the company earned $0.34 earnings per share. The business’s revenue was up 38.1% compared to the same quarter last year. As a group, sell-side analysts predict that Marvell Technology Group will post 0.86 EPS for the current year.

Marvell Technology Group declared that its Board of Directors has initiated a share repurchase program on Tuesday, October 16th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to purchase up to 7.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Institutional investors have recently modified their holdings of the company. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new position in shares of Marvell Technology Group during the second quarter worth about $117,000. MUFG Americas Holdings Corp acquired a new position in Marvell Technology Group during the second quarter worth about $120,000. Cerebellum GP LLC acquired a new position in Marvell Technology Group during the third quarter worth about $183,000. Commonwealth Bank of Australia grew its position in Marvell Technology Group by 1,142.9% during the second quarter. Commonwealth Bank of Australia now owns 8,700 shares of the semiconductor company’s stock worth $185,000 after buying an additional 8,000 shares during the period. Finally, Engineers Gate Manager LP acquired a new position in Marvell Technology Group during the third quarter worth about $203,000. Institutional investors and hedge funds own 95.31% of the company’s stock.

Marvell Technology Group Company Profile

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 HDD components, such as HDD preamps components; and develops software-enabled silicon solutions comprising serial advanced technology attachment port multipliers, bridges, serial attached SCSI, and non-volatile memory express redundant array of independent disks controllers and converged storage processors for enterprises, data centers, and cloud computing businesses.

Recommended Story: What is a capital gain?

Analyst Recommendations for Marvell Technology Group (NASDAQ:MRVL)

Receive News & Ratings for Marvell Technology Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marvell Technology Group and related companies with MarketBeat.com's FREE daily email newsletter.