Press coverage about Marvell Technology Group (NASDAQ:MRVL) has been trending somewhat positive recently, according to Accern. The research group rates the sentiment of news coverage by reviewing more than 20 million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Marvell Technology Group earned a daily sentiment score of 0.18 on Accern’s scale. Accern also assigned news coverage about the semiconductor company an impact score of 48.4129482626679 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the near term.
Here are some of the media stories that may have impacted Accern Sentiment Analysis’s rankings:
MRVL has been the subject of several research analyst reports. BMO Capital Markets restated a “market perform” rating and set a $16.00 price objective on shares of Marvell Technology Group in a research report on Monday, August 28th. Jefferies Group restated a “hold” rating and set a $18.50 price objective (down from $19.00) on shares of Marvell Technology Group in a research report on Thursday, August 24th. Cowen reiterated a “buy” rating on shares of Marvell Technology Group in a report on Friday, October 13th. B. Riley reiterated a “buy” rating and set a $24.00 price target on shares of Marvell Technology Group in a report on Monday, November 20th. Finally, Loop Capital reiterated a “buy” rating and set a $26.00 price target on shares of Marvell Technology Group in a report on Tuesday, November 21st. Eight investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $23.48.
Shares of Marvell Technology Group (NASDAQ MRVL) traded up $0.12 during trading on Monday, hitting $22.30. 11,231,335 shares of the company traded hands, compared to its average volume of 6,832,827. Marvell Technology Group has a one year low of $13.59 and a one year high of $24.22. The company has a market capitalization of $11,060.00, a PE ratio of 23.85, a price-to-earnings-growth ratio of 1.34 and a beta of 1.13.
Marvell Technology Group (NASDAQ:MRVL) last issued its quarterly earnings data on Tuesday, November 28th. The semiconductor company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.01. Marvell Technology Group had a net margin of 16.53% and a return on equity of 11.99%. The company had revenue of $616.00 million for the quarter, compared to analysts’ expectations of $613.49 million. During the same quarter in the previous year, the firm posted $0.20 earnings per share. Marvell Technology Group’s revenue for the quarter was down 5.8% on a year-over-year basis. research analysts forecast that Marvell Technology Group will post 1.01 EPS for the current fiscal year.
In related news, major shareholder Sehat Sutardja sold 62,337 shares of the business’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $18.48, for a total value of $1,151,987.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last three months, insiders sold 17,558,035 shares of company stock worth $320,838,284. 6.80% of the stock is currently owned by insiders.
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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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