Craig Hallum reiterated their buy rating on shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) in a research note published on Tuesday. They currently have a $34.00 price target on the semiconductor company’s stock, up from their prior price target of $21.50.

Other research analysts have also issued reports about the stock. BidaskClub lowered shares of Marvell Technology Group from a hold rating to a sell rating in a research note on Tuesday, July 25th. Zacks Investment Research lowered shares of Marvell Technology Group from a buy rating to a hold rating in a research note on Thursday, July 27th. Cowen and Company reiterated a buy rating and set a $21.00 price target on shares of Marvell Technology Group in a research note on Monday, August 21st. B. Riley reiterated a buy rating and set a $23.00 price target on shares of Marvell Technology Group in a research note on Monday, August 21st. Finally, Credit Suisse Group reiterated a buy rating on shares of Marvell Technology Group in a research note on Wednesday, August 23rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. Marvell Technology Group currently has an average rating of Buy and an average price target of $22.10.

Marvell Technology Group (NASDAQ MRVL) opened at $23.28 on Tuesday. The company has a market cap of $10,704.32, a price-to-earnings ratio of 27.68, a price-to-earnings-growth ratio of 1.48 and a beta of 1.05. Marvell Technology Group has a one year low of $13.59 and a one year high of $23.41.

Marvell Technology Group (NASDAQ:MRVL) last posted its quarterly earnings data on Thursday, August 24th. The semiconductor company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.03). The business had revenue of $604.75 million during the quarter, compared to analyst estimates of $600.76 million. Marvell Technology Group had a net margin of 10.97% and a return on equity of 9.99%. The company’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.18 earnings per share. research analysts forecast that Marvell Technology Group will post 0.97 EPS for the current fiscal year.

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The business also recently declared a quarterly dividend, which was paid on Thursday, October 26th. Investors of record on Tuesday, October 10th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend was Friday, October 6th. Marvell Technology Group’s dividend payout ratio (DPR) is 47.06%.

In other news, major shareholder Sehat Sutardja sold 2,727,810 shares of the stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $18.49, for a total value of $50,437,206.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 17,558,035 shares of company stock valued at $320,838,284 in the last three months. Company insiders own 6.80% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in MRVL. Bank of Montreal Can increased its position in shares of Marvell Technology Group by 593.9% in the second quarter. Bank of Montreal Can now owns 493,150 shares of the semiconductor company’s stock worth $8,147,000 after acquiring an additional 422,078 shares in the last quarter. NN Investment Partners Holdings N.V. increased its position in shares of Marvell Technology Group by 764.7% in the second quarter. NN Investment Partners Holdings N.V. now owns 20,598 shares of the semiconductor company’s stock worth $340,000 after acquiring an additional 18,216 shares in the last quarter. Creative Planning increased its position in shares of Marvell Technology Group by 39.8% in the second quarter. Creative Planning now owns 10,008 shares of the semiconductor company’s stock worth $165,000 after acquiring an additional 2,850 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its position in shares of Marvell Technology Group by 468.3% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 65,966 shares of the semiconductor company’s stock worth $1,090,000 after acquiring an additional 54,359 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC increased its position in shares of Marvell Technology Group by 4.1% in the second quarter. Quantitative Systematic Strategies LLC now owns 17,107 shares of the semiconductor company’s stock worth $288,000 after acquiring an additional 673 shares in the last quarter. 77.03% of the stock is owned by institutional investors.

Marvell Technology Group Company Profile

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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