Shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) hit a new 52-week high during trading on Monday . The company traded as high as $46.02 and last traded at $44.70, with a volume of 150564 shares trading hands. The stock had previously closed at $45.11.
A number of equities research analysts have recently weighed in on MRVL shares. Credit Suisse Group lifted their price target on Marvell Technology Group from $45.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, October 2nd. Zacks Investment Research raised Marvell Technology Group from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a report on Tuesday, November 10th. Deutsche Bank Aktiengesellschaft lifted their price target on Marvell Technology Group from $45.00 to $50.00 and gave the company a “buy” rating in a report on Friday, October 9th. Evercore ISI lifted their price target on Marvell Technology Group from $45.00 to $50.00 in a report on Thursday, September 3rd. Finally, Rosenblatt Securities raised Marvell Technology Group to a “buy” rating in a report on Wednesday, October 7th. Five investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $45.85.
The company’s fifty day moving average is $42.23 and its two-hundred day moving average is $37.07. The company has a quick ratio of 1.12, a current ratio of 1.33 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $30.23 billion, a price-to-earnings ratio of 21.76, a price-to-earnings-growth ratio of 3.21 and a beta of 1.09.
Marvell Technology Group (NASDAQ:MRVL) last posted its earnings results on Thursday, August 27th. The semiconductor company reported $0.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.01. The company had revenue of $727.30 million for the quarter, compared to analyst estimates of $720.88 million. Marvell Technology Group had a net margin of 50.67% and a return on equity of 3.10%. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period last year, the business posted $0.16 earnings per share. On average, equities research analysts expect that Marvell Technology Group Ltd. will post 0.57 EPS for the current year.
In related news, CEO Matthew J. Murphy sold 7,500 shares of the firm’s stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $42.83, for a total transaction of $321,225.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Jean X. Hu sold 11,796 shares of the firm’s stock in a transaction on Monday, November 16th. The stock was sold at an average price of $43.20, for a total transaction of $509,587.20. Following the sale, the chief financial officer now owns 116,208 shares in the company, valued at $5,020,185.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 69,002 shares of company stock worth $2,889,938. Company insiders own 0.29% of the company’s stock.
Large investors have recently modified their holdings of the stock. AE Wealth Management LLC acquired a new stake in shares of Marvell Technology Group during the second quarter worth $1,089,000. IBM Retirement Fund raised its holdings in shares of Marvell Technology Group by 39.1% during the third quarter. IBM Retirement Fund now owns 21,426 shares of the semiconductor company’s stock worth $851,000 after acquiring an additional 6,018 shares during the period. Engineers Gate Manager LP acquired a new stake in shares of Marvell Technology Group during the second quarter worth $328,000. Cambridge Investment Research Advisors Inc. grew its position in Marvell Technology Group by 6.3% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 47,631 shares of the semiconductor company’s stock valued at $1,670,000 after purchasing an additional 2,822 shares in the last quarter. Finally, Banco Bilbao Vizcaya Argentaria S.A. grew its position in Marvell Technology Group by 8.4% in the third quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 81,756 shares of the semiconductor company’s stock valued at $3,245,000 after purchasing an additional 6,323 shares in the last quarter. Institutional investors and hedge funds own 88.51% of the company’s stock.
Marvell Technology Group Company Profile (NASDAQ:MRVL)
Marvell Technology Group Ltd. designs, develops, and sells analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a portfolio of Ethernet solutions, including controllers, network adapters, physical transceivers, and switches; single or multiple core processors; custom application specific integrated circuits; and printer SoC products and application processors.
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