What Are Analysts Report About Marvell Technology Group Ltd. (MRVL)

Marco Green
March 13, 2018

Several brokerages recently issued reports on MRVL. Cowen restated an "outperform" rating and set a $29.00 price target (up from $21.00) on shares of Marvell Technology Group in a research note on Monday, November 27th. Argus began coverage on shares of Marvell Technology Group in a research note on Wednesday. Marvell Technology Group now has an average rating of Buy and a consensus target price of $24.74. Zacks Investment Research lowered shares of Marvell Technology Group from a hold rating to a sell rating in a research note on Wednesday.

Among 38 analysts covering Marvell Technology Group (NASDAQ:MRVL), 25 have Buy rating, 1 Sell and 12 Hold. Eight equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. Roystone Capital Management Lp who had been investing in Marvell Technology Group Ltd for a number of months, seems to be less bullish one the $12.07B market cap company.

Marvell Technology Group (NASDAQ:MRVL) traded up $0.02 during midday trading on Friday, hitting $24.34. About 17.31 million shares traded or 122.57% up from the average. The company has a market capitalization of $12,070.00, a price-to-earnings ratio of 42.70, a P/E/G ratio of 1.29 and a beta of 0.91. Marvell Technology Group has a 1 year low of $14.58 and a 1 year high of $25.18.

More notable recent Marvell Technology Group Ltd. (NASDAQ:MRVL) news were published by: Stockhouse.com which released: "Marvell Technology Group Ltd.to Host Earnings Call" on March 08, 2018, also Bizjournals.com with their article: "Bay Area Corporate Counsel Awards 2018: Mitch Gaynor of Marvell Technology ..." published on March 02, 2018, Nasdaq.com published: "Marvell Technology (MRVL) Posts Earnings Beat & In-Line Guidance" on March 08, 2018. The semiconductor company reported $0.32 EPS for the quarter, topping the Thomson Reuters' consensus estimate of $0.31 by $0.01.

Analysts believe that the company has the potential to earn average revenue of $602.07 Million for the current quarter. For the next 5 years, Marvell Technology Group Ltd.is expecting Growth of 22.45% per annum, whereas in the past 5 years the growth was -7.52% per annum. Ca sold 1,512 shares of Marvell Technology Group stock in a transaction that occurred on Thursday, January 18th. The shares were 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 of the company's stock, valued at $465,952.30. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. It also increased its holding in Honeywell Intl Inc (NYSE:HON) by 2,175 shares in the quarter, for a total of 62,544 shares, and has risen its stake in Unitedhealth Group Inc (NYSE:UNH).

In other news, Director Michael G. Strachan sold 20,000 shares of Marvell Technology Group stock in a transaction that occurred on Wednesday, January 17th. The disclosure for this sale can be found here. Price T Rowe Assoc Inc Md owns 47.15 million shares.

Want to see what other hedge funds are holding MRVL? The New York-based Contour Asset Mgmt Ltd Liability Company has invested 9.42% in Marvell Technology Group Ltd. (NASDAQ:MRVL). State of Wisconsin Investment Board now owns 615,393 shares of the semiconductor company's stock worth $11,016,000 after buying an additional 127,648 shares in the last quarter. Tower Research Capital LLC TRC's holdings in Marvell Technology Group were worth $118,000 at the end of the most recent reporting period. The institutional investor held 28,345 shares of the o.e.m. company at the end of 2017Q3, valued at $1.45M, down from 47,010 at the end of the previous reported quarter. US Bancorp DE lifted its holdings in Marvell Technology Group by 0.6% during the fourth quarter. Highbridge Capital Management LLC lifted its stake in Marvell Technology Group by 1,928.6% in the 3rd 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 last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in Marvell Technology Group by 182.9% during the fourth quarter. Lingohr Partner Asset Management Gmbh reported 0.51% stake. Renaissance Technologies LLC now owns 6,605,844 shares of the semiconductor company's stock worth $141,827,000 after acquiring an additional 673,369 shares in the last quarter. Goldman Sachs Gp has invested 0.04% in Marvell Technology Group Ltd. (NASDAQ:MRVL). The Company is engaged in the design, development and sale of integrated circuits. The Company develops System-on-a-Chip (SoC) devices. It offers a range of storage products, such as hard disk drive and solid-state drive controllers, as well as HDD components, such as HDD preamps components; and develops software enabled silicon solutions consisting of 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 enterprise, data centers, and cloud computing businesses.

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