Wall Street brokerages forecast that Marvell Technology Group Ltd. (NASDAQ:MRVL) will post earnings per share (EPS) of $0.33 for the current quarter, Zacks reports. Three analysts have provided estimates for Marvell Technology Group’s earnings, with estimates ranging from $0.31 to $0.37. Marvell Technology Group reported earnings per share of $0.32 during the same quarter last year, which would indicate a positive year over year growth rate of 3.1%. The firm is scheduled to report its next quarterly earnings results on Thursday, March 14th.

According to Zacks, analysts expect that Marvell Technology Group will report full year earnings of $1.25 per share for the current financial year, with EPS estimates ranging from $1.18 to $1.31. For the next financial year, analysts forecast that the company will report earnings of $1.49 per share, with EPS estimates ranging from $1.39 to $1.55. Zacks’ EPS averages are an average based on a survey of research analysts that cover Marvell Technology Group.

Marvell Technology Group (NASDAQ:MRVL) last announced its quarterly earnings data on Tuesday, December 4th. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.01. Marvell Technology Group had a net margin of 4.76% and a return on equity of 10.43%. The company had revenue of $851.05 million during the quarter, compared to analysts’ expectations of $844.07 million. During the same period in the previous year, the company earned $0.34 EPS. The business’s quarterly revenue was up 38.1% compared to the same quarter last year.

MRVL has been the subject of several research reports. Benchmark lowered their price objective on shares of Marvell Technology Group to $30.00 in a research note on Sunday, December 2nd. Stifel Nicolaus raised shares of Marvell Technology Group from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research note on Friday, October 12th. B. Riley lowered their price objective on shares of Marvell Technology Group from $30.00 to $26.00 and set a “buy” rating for the company in a research note on Wednesday, October 10th. Goldman Sachs Group initiated coverage on shares of Marvell Technology Group in a research report on Tuesday, September 18th. They set a “buy” rating and a $23.00 price target for the company. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $27.00 price target on shares of Marvell Technology Group in a research report on Sunday, September 9th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and seventeen have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $24.44.

Shares of NASDAQ MRVL traded down $0.65 during trading on Friday, hitting $15.44. 10,736,582 shares of the company traded hands, compared to its average volume of 9,708,938. Marvell Technology Group has a 1 year low of $14.69 and a 1 year high of $25.18. The stock has a market capitalization of $10.21 billion, a PE ratio of 14.85, a P/E/G ratio of 1.97 and a beta of 1.01. The company has a quick ratio of 1.76, a current ratio of 2.54 and a debt-to-equity ratio of 0.25.

Marvell Technology Group announced that its Board of Directors has authorized a share repurchase program on Tuesday, October 16th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the semiconductor company to repurchase up to 7.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

A number of institutional investors have recently made changes to their positions in MRVL. Vanguard Group Inc. boosted its position in Marvell Technology Group by 45.0% during the 3rd quarter. Vanguard Group Inc. now owns 53,229,098 shares of the semiconductor company’s stock worth $1,027,321,000 after purchasing an additional 16,517,490 shares during the period. BlackRock Inc. boosted its position in Marvell Technology Group by 34.5% in the 3rd quarter. BlackRock Inc. now owns 32,541,818 shares of the semiconductor company’s stock valued at $628,056,000 after buying an additional 8,349,897 shares during the last quarter. Morgan Stanley boosted its position in Marvell Technology Group by 837.0% in the 3rd quarter. Morgan Stanley now owns 6,592,139 shares of the semiconductor company’s stock valued at $127,230,000 after buying an additional 5,888,609 shares during the last quarter. Credit Suisse AG boosted its position in Marvell Technology Group by 850.5% in the 3rd quarter. Credit Suisse AG now owns 5,980,384 shares of the semiconductor company’s stock valued at $115,422,000 after buying an additional 5,351,224 shares during the last quarter. Finally, American Century Companies Inc. purchased a new position in Marvell Technology Group in the 3rd quarter valued at about $66,004,000. 95.31% of the stock is owned by hedge funds and other institutional investors.

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.

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Earnings History and Estimates for Marvell Technology Group (NASDAQ:MRVL)

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