Marvell Technology Group Ltd. (NASDAQ:MRVL)‘s stock had its “buy” rating restated by investment analysts at KeyCorp in a research report issued on Wednesday, October 4th. They presently have a $25.00 price objective on the semiconductor company’s stock. KeyCorp’s target price would indicate a potential upside of 36.76% from the stock’s previous close. KeyCorp also issued estimates for Marvell Technology Group’s Q1 2019 earnings at $0.23 EPS, Q2 2019 earnings at $0.31 EPS, Q3 2019 earnings at $0.36 EPS, Q4 2019 earnings at $0.35 EPS and FY2019 earnings at $1.25 EPS.

MRVL has been the subject of several other research reports. B. Riley reaffirmed a “buy” rating and issued a $23.00 target price on shares of Marvell Technology Group in a research note on Friday, September 1st. BidaskClub raised Marvell Technology Group from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 16th. Cowen and Company reaffirmed a “buy” rating and issued a $21.00 target price on shares of Marvell Technology Group in a research note on Monday, August 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $21.00 target price on shares of Marvell Technology Group in a research note on Thursday, August 24th. Finally, Loop Capital reiterated a “buy” rating and issued a $22.00 price objective on shares of Marvell Technology Group in a research report on Friday, August 25th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $19.31.

Marvell Technology Group (MRVL) traded down 0.05% on Wednesday, hitting $18.28. 3,585,668 shares of the stock were exchanged. The company has a 50 day moving average of $17.94 and a 200 day moving average of $16.53. The stock has a market capitalization of $9.06 billion, a P/E ratio of 35.43 and a beta of 1.13. Marvell Technology Group has a one year low of $12.30 and a one year high of $18.72.

Marvell Technology Group (NASDAQ:MRVL) last issued its quarterly earnings data on Thursday, August 24th. The semiconductor company reported $0.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.03). Marvell Technology Group had a return on equity of 9.99% and a net margin of 10.97%. The business had revenue of $604.75 million for the quarter, compared to analysts’ expectations of $600.76 million. During the same period in the previous year, the firm posted $0.18 EPS. The firm’s revenue for the quarter was up 16.4% compared to the same quarter last year. On average, equities research analysts forecast that Marvell Technology Group will post $1.13 earnings per share for the current fiscal year.

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In other news, major shareholder Sehat Sutardja sold 537,235 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $17.57, for a total value of $9,439,218.95. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold 15,754,429 shares of company stock worth $287,418,990 in the last ninety days. Corporate insiders own 6.80% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. D.A. Davidson & CO. raised its stake in Marvell Technology Group by 10.2% during the 2nd quarter. D.A. Davidson & CO. now owns 6,461 shares of the semiconductor company’s stock valued at $106,000 after purchasing an additional 600 shares during the period. Tower Research Capital LLC TRC raised its stake in Marvell Technology Group by 1,740.4% during the 1st quarter. Tower Research Capital LLC TRC now owns 7,969 shares of the semiconductor company’s stock valued at $122,000 after purchasing an additional 7,536 shares during the period. United Capital Financial Advisers LLC bought a new stake in Marvell Technology Group during the 1st quarter valued at approximately $165,000. Creative Planning raised its stake in Marvell Technology Group by 39.8% during the 2nd quarter. Creative Planning now owns 10,008 shares of the semiconductor company’s stock valued at $165,000 after purchasing an additional 2,850 shares during the period. Finally, Achmea Investment Management B.V. bought a new stake in Marvell Technology Group during the 2nd quarter valued at approximately $214,000. 76.61% of the stock is currently owned by hedge funds and other institutional investors.

About Marvell Technology Group

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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