Zacks: Analysts Expect Marvell Technology Group Ltd. (MRVL) Will Post Earnings of $0.15 Per Share
Equities analysts expect Marvell Technology Group Ltd. (NASDAQ:MRVL) to announce $0.15 earnings per share for the current quarter, according to Zacks. Six analysts have made estimates for Marvell Technology Group’s earnings. The highest EPS estimate is $0.18 and the lowest is $0.14. Marvell Technology Group reported earnings per share of $0.32 in the same quarter last year, which would indicate a negative year-over-year growth rate of 53.1%. The company is scheduled to issue its next quarterly earnings results on Thursday, May 30th.
According to Zacks, analysts expect that Marvell Technology Group will report full-year earnings of $0.95 per share for the current fiscal year, with EPS estimates ranging from $0.86 to $1.19. For the next fiscal year, analysts anticipate that the firm will post earnings of $1.39 per share, with EPS estimates ranging from $0.95 to $1.56. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for Marvell Technology Group.
Marvell Technology Group (NASDAQ:MRVL) last issued its quarterly earnings results on Thursday, March 7th. The semiconductor company reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.02). The business 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 8.19%. During the same quarter last year, the firm posted $0.32 earnings per share.
In other Marvell Technology Group news, Director Syed Ali sold 442,000 shares of the company’s stock in a transaction dated Friday, January 11th. The shares were sold at an average price of $17.14, for a total value of $7,575,880.00. Following the completion of the transaction, the director now directly owns 4,950,515 shares of the company’s stock, valued at approximately $84,851,827.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.10% of the company’s stock.
A number of large investors have recently bought and sold shares of MRVL. Loeb Partners Corp purchased a new position in Marvell Technology Group in the 4th quarter valued at about $44,000. AlphaOne Investment Services LLC lifted its position in shares of Marvell Technology Group by 339.4% during the fourth quarter. AlphaOne Investment Services LLC now owns 3,344 shares of the semiconductor company’s stock worth $54,000 after purchasing an additional 2,583 shares during the last quarter. Sterling Investment Advisors Ltd. lifted its position in shares of Marvell Technology Group by 100.0% during the fourth quarter. Sterling Investment Advisors Ltd. now owns 6,000 shares of the semiconductor company’s stock worth $97,000 after purchasing an additional 3,000 shares during the last quarter. Penserra Capital Management LLC lifted its position in shares of Marvell Technology Group by 580.7% during the fourth quarter. Penserra Capital Management LLC now owns 6,126 shares of the semiconductor company’s stock worth $98,000 after purchasing an additional 5,226 shares during the last quarter. Finally, FUKOKU MUTUAL LIFE INSURANCE Co lifted its position in shares of Marvell Technology Group by 71.8% during the fourth quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 6,700 shares of the semiconductor company’s stock worth $108,000 after purchasing an additional 2,800 shares during the last quarter. 96.95% of the stock is owned by institutional investors.
MRVL stock opened at $19.82 on Monday. The firm has a market cap of $12.94 billion, a PE ratio of 23.32, a PEG ratio of 4.49 and a beta of 1.01. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.32 and a quick ratio of 1.74. Marvell Technology Group has a 52 week low of $14.34 and a 52 week high of $22.95.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Wednesday, April 3rd will be given a $0.06 dividend. The ex-dividend date is Tuesday, April 2nd. This represents a $0.24 dividend on an annualized basis and a yield of 1.21%. Marvell Technology Group’s payout ratio is currently 28.24%.
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 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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