Equities analysts expect that Marvell Technology Group Ltd. (NASDAQ:MRVL) will report $611.65 million in sales for the current fiscal quarter, Zacks reports. Nine analysts have provided estimates for Marvell Technology Group’s earnings. The highest sales estimate is $620.29 million and the lowest is $610.00 million. Marvell Technology Group reported sales of $571.40 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 7%. The company is scheduled to announce its next earnings report after the market closes on Thursday, March 8th.
On average, analysts expect that Marvell Technology Group will report full-year sales of $611.65 million for the current financial year, with estimates ranging from $2.40 billion to $2.42 billion. For the next fiscal year, analysts expect that the firm will post sales of $2.50 billion per share, with estimates ranging from $2.46 billion to $2.58 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Marvell Technology Group.
Marvell Technology Group (NASDAQ:MRVL) last issued its earnings results on Tuesday, November 28th. The semiconductor company reported $0.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.01. The business had revenue of $616.00 million during the quarter, compared to analysts’ expectations of $613.49 million. Marvell Technology Group had a return on equity of 11.93% and a net margin of 16.53%. Marvell Technology Group’s revenue was down 5.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.20 earnings per share.
A number of research firms recently issued reports on MRVL. Zacks Investment Research raised Marvell Technology Group from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research report on Tuesday, November 21st. ValuEngine raised Marvell Technology Group from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Craig Hallum reissued a “buy” rating on shares of Marvell Technology Group in a research report on Tuesday, November 21st. Needham & Company LLC lifted their price objective on Marvell Technology Group from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Wednesday, November 29th. Finally, Loop Capital reissued a “buy” rating and set a $28.00 price objective on shares of Marvell Technology Group in a research report on Wednesday, November 29th. Eight analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. Marvell Technology Group currently has a consensus rating of “Buy” and a consensus price target of $23.92.
Marvell Technology Group (MRVL) traded up $0.52 on Friday, reaching $23.20. The company had a trading volume of 6,180,000 shares, compared to its average volume of 8,570,000. The firm has a market capitalization of $11,510.00, a PE ratio of 40.70, a price-to-earnings-growth ratio of 1.19 and a beta of 0.95. Marvell Technology Group has a 52-week low of $14.58 and a 52-week high of $24.22.
In other news, Director Michael G. Strachan sold 20,000 shares of Marvell Technology Group stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $23.65, for a total value of $473,000.00. Following the transaction, the director now directly owns 19,702 shares in the company, valued at $465,952.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Marvell Semiconductor, Inc. Ca sold 1,512 shares of Marvell Technology Group stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $23.86, for a total value of $36,076.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,324 shares of company stock worth $717,091. Corporate insiders own 6.80% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Advisor Group Inc. increased its stake in shares of Marvell Technology Group by 516.2% in the fourth quarter. Advisor Group Inc. now owns 4,800 shares of the semiconductor company’s stock worth $103,000 after purchasing an additional 4,021 shares during the period. Meeder Asset Management Inc. bought a new position in shares of Marvell Technology Group in the third quarter worth about $106,000. Delpha Capital Management LLC bought a new position in shares of Marvell Technology Group in the fourth quarter worth about $112,000. Tower Research Capital LLC TRC increased its stake in shares of Marvell Technology Group by 208.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,482 shares of the semiconductor company’s stock worth $118,000 after purchasing an additional 3,704 shares during the period. Finally, Massey Quick Simon & CO. LLC bought a new position in shares of Marvell Technology Group in the third quarter worth about $124,000. Institutional investors and hedge funds own 89.44% of the company’s stock.
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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.
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