Marvell Technology Group Ltd. (MRVL) Set to Announce Quarterly Earnings on Wednesday

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%.

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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.

Earnings History for Marvell Technology Group (NASDAQ:MRVL)

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