Marvell Technology Group Ltd. (NASDAQ:MRVL) will issue its quarterly earnings data after the market closes on Wednesday, November 15th. Analysts expect the company to announce earnings of $0.31 per share for the quarter. Marvell Technology Group has set its Q3 guidance at $0.30-0.34 EPS.
Marvell Technology Group (NASDAQ:MRVL) last announced its quarterly earnings results on Thursday, August 24th. The semiconductor company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.03). The company had revenue of $604.75 million during the quarter, compared to the consensus estimate of $600.76 million. Marvell Technology Group had a return on equity of 9.99% and a net margin of 10.97%. The company’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same period last year, the business posted $0.18 EPS. On average, analysts expect Marvell Technology Group to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.
Shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) opened at $20.13 on Tuesday. The stock has a market capitalization of $9,980.45, a P/E ratio of 25.81, a P/E/G ratio of 1.38 and a beta of 1.05. Marvell Technology Group Ltd. has a 1-year low of $12.88 and a 1-year high of $21.08.
The business also recently declared a quarterly dividend, which was paid on Thursday, October 26th. Investors of record on Tuesday, October 10th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.19%. The ex-dividend date was Friday, October 6th. Marvell Technology Group’s dividend payout ratio (DPR) is 47.06%.
In related news, major shareholder Sehat Sutardja sold 492,343 shares of Marvell Technology Group stock in a transaction on Monday, September 11th. The stock was sold at an average price of $17.41, for a total value of $8,571,691.63. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold a total of 17,558,035 shares of company stock worth $320,838,284 over the last 90 days. Insiders own 6.80% of the company’s stock.
MRVL has been the topic of several recent research reports. BidaskClub downgraded Marvell Technology Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Zacks Investment Research downgraded Marvell Technology Group from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Cowen and Company reissued a “buy” rating on shares of Marvell Technology Group in a report on Friday, October 13th. Jefferies Group LLC set a $19.00 price target on Marvell Technology Group and gave the stock a “hold” rating in a report on Wednesday, October 18th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $16.00 price target on shares of Marvell Technology Group in a report on Monday, August 28th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Marvell Technology Group presently has a consensus rating of “Buy” and an average price target of $19.29.
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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