Shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) gapped down prior to trading on Tuesday . The stock had previously closed at $21.36, but opened at $22.14. Marvell Technology Group shares last traded at $22.81, with a volume of 398416 shares traded.

MRVL has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Marvell Technology Group from a “buy” rating to a “hold” rating in a research note on Monday, February 11th. Macquarie raised shares of Marvell Technology Group from a “neutral” rating to an “outperform” rating and set a $24.00 target price for the company in a research note on Tuesday, February 19th. BidaskClub raised shares of Marvell Technology Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 23rd. UBS Group lifted their target price 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. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $22.00 target price on shares of Marvell Technology Group in a research note on Thursday, February 14th. Three investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $25.55.

The firm has a market cap of $14.59 billion, a price-to-earnings ratio of 27.18, a price-to-earnings-growth ratio of 4.01 and a beta of 1.11. The company has a current ratio of 2.19, a quick ratio of 1.76 and a debt-to-equity ratio of 0.24.

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

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Wednesday, April 3rd were issued a $0.06 dividend. The ex-dividend date was Tuesday, April 2nd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.04%. Marvell Technology Group’s dividend payout ratio (DPR) is presently 28.24%.

In other Marvell Technology Group 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 owns 25,576 shares in the company, valued at approximately $604,616.64. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.10% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Loeb Partners Corp acquired a new position in shares of Marvell Technology Group during the 4th quarter valued at $44,000. Cresset Asset Management LLC acquired a new position in shares of Marvell Technology Group during the 1st quarter valued at $50,000. Quadrant Capital Group LLC lifted its holdings in shares of Marvell Technology Group by 1,266.3% during the 1st quarter. Quadrant Capital Group LLC now owns 2,678 shares of the semiconductor company’s stock valued at $51,000 after acquiring an additional 2,482 shares in the last quarter. Tyers Asset Management LLC acquired a new position in shares of Marvell Technology Group during the 1st quarter valued at $53,000. Finally, AlphaOne Investment Services LLC lifted its holdings in shares of Marvell Technology Group by 339.4% during the 4th quarter. AlphaOne Investment Services LLC now owns 3,344 shares of the semiconductor company’s stock valued at $54,000 after acquiring an additional 2,583 shares in the last quarter. Institutional investors own 97.26% of the company’s stock.

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Marvell Technology Group Company Profile (NASDAQ:MRVL)

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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