Marvell Technology Group Ltd. (MRVL) Expected to Announce Earnings of $0.31 Per Share

Analysts forecast that Marvell Technology Group Ltd. (NASDAQ:MRVL) will report $0.31 earnings per share (EPS) for the current quarter, Zacks reports. Nine analysts have issued estimates for Marvell Technology Group’s earnings, with the lowest EPS estimate coming in at $0.31 and the highest estimate coming in at $0.32. Marvell Technology Group posted earnings of $0.22 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 40.9%. The business is scheduled to issue its next quarterly earnings report on Thursday, March 1st.

On average, analysts expect that Marvell Technology Group will report full year earnings of $1.19 per share for the current year, with EPS estimates ranging from $1.18 to $1.20. For the next fiscal year, analysts forecast that the firm will post earnings of $1.33 per share, with EPS estimates ranging from $1.22 to $1.48. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that cover Marvell Technology Group.

Marvell Technology Group (NASDAQ:MRVL) last released its quarterly earnings results on Tuesday, November 28th. The semiconductor company reported $0.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.01. The company had revenue of $616.00 million for the quarter, compared to analyst estimates of $613.49 million. Marvell Technology Group had a net margin of 16.53% and a return on equity of 11.93%. The firm’s revenue was down 5.8% on a year-over-year basis. During the same quarter last year, the business earned $0.20 earnings per share.

Several analysts recently commented on the stock. B. Riley restated a “buy” rating and set a $23.00 price target on shares of Marvell Technology Group in a research report on Friday, September 1st. Stifel Nicolaus raised their price target on shares of Marvell Technology Group from $16.00 to $19.00 and gave the company a “hold” rating in a research report on Wednesday, November 29th. BidaskClub upgraded shares of Marvell Technology Group from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 16th. Needham & Company LLC raised their price target on shares of Marvell Technology Group from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Wednesday, November 29th. Finally, MKM Partners raised their price target on shares of Marvell Technology Group to $30.00 and gave the company a “buy” rating in a research report on Wednesday, November 29th. Eight analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. Marvell Technology Group currently has a consensus rating of “Buy” and a consensus price target of $23.72.

In related news, major shareholder Sehat Sutardja sold 62,337 shares of the firm’s stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $18.48, for a total transaction of $1,151,987.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Marvell Semiconductor, Inc. Ca sold 9,812 shares of the firm’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $21.20, for a total transaction of $208,014.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,610,190 shares of company stock worth $304,106,751. Insiders own 6.80% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Marvell Technology Group by 0.9% during the second quarter. Vanguard Group Inc. now owns 32,190,297 shares of the semiconductor company’s stock worth $531,785,000 after purchasing an additional 290,339 shares during the last quarter. Boston Partners increased its position in Marvell Technology Group by 51.4% during the third quarter. Boston Partners now owns 12,205,587 shares of the semiconductor company’s stock worth $218,480,000 after purchasing an additional 4,143,929 shares during the last quarter. JPMorgan Chase & Co. increased its position in Marvell Technology Group by 9.5% during the third quarter. JPMorgan Chase & Co. now owns 9,581,295 shares of the semiconductor company’s stock worth $172,175,000 after purchasing an additional 830,797 shares during the last quarter. Contour Asset Management LLC increased its position in Marvell Technology Group by 11.5% during the second quarter. Contour Asset Management LLC now owns 9,192,978 shares of the semiconductor company’s stock worth $151,868,000 after purchasing an additional 944,622 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its position in Marvell Technology Group by 2.3% during the second quarter. UBS Asset Management Americas Inc. now owns 8,901,332 shares of the semiconductor company’s stock worth $147,050,000 after purchasing an additional 195,985 shares during the last quarter. Hedge funds and other institutional investors own 78.84% of the company’s stock.

Shares of Marvell Technology Group (MRVL) opened at $22.04 on Friday. The company has a market cap of $10,810.00, a price-to-earnings ratio of 23.46, a P/E/G ratio of 1.32 and a beta of 1.13. Marvell Technology Group has a 52-week low of $13.83 and a 52-week high of $24.22.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Wednesday, December 27th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.09%. Marvell Technology Group’s dividend payout ratio is currently 42.11%.

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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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Earnings History and Estimates for Marvell Technology Group (NASDAQ:MRVL)

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