Headlines about Marvell Technology Group (NASDAQ:MRVL) have trended somewhat positive recently, according to Accern Sentiment. Accern rates the sentiment of press coverage by reviewing more than twenty million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Marvell Technology Group earned a media sentiment score of 0.12 on Accern’s scale. Accern also assigned media stories about the semiconductor company an impact score of 45.7918692015318 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.
These are some of the media stories that may have impacted Accern’s scoring:
Several analysts have recently weighed in on MRVL shares. Zacks Investment Research upgraded shares of Marvell Technology Group from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research report on Tuesday, November 21st. Loop Capital reiterated a “buy” rating and set a $26.00 target price on shares of Marvell Technology Group in a research report on Tuesday, November 21st. Jefferies Group upgraded shares of Marvell Technology Group from a “hold” rating to a “buy” rating and set a $18.50 target price on the stock in a research report on Tuesday, November 21st. B. Riley reissued a “buy” rating and set a $24.00 price target on shares of Marvell Technology Group in a report on Monday, November 20th. Finally, Benchmark raised shares of Marvell Technology Group from a “hold” rating to a “buy” rating and lifted their price target for the company from $17.00 to $30.00 in a report on Monday, November 20th. Eight analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. Marvell Technology Group presently has a consensus rating of “Buy” and a consensus target price of $23.92.
Shares of Marvell Technology Group (MRVL) traded down $0.01 during midday trading on Friday, hitting $23.68. 7,503,114 shares of the company’s stock were exchanged, compared to its average volume of 6,970,000. Marvell Technology Group has a one year low of $13.83 and a one year high of $24.22. The company has a market capitalization of $11,630.00, a P/E ratio of 41.54, a PEG ratio of 1.43 and a beta of 1.12.
Marvell Technology Group (NASDAQ:MRVL) last announced its earnings results on Tuesday, November 28th. The semiconductor company reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.01. Marvell Technology Group had a net margin of 16.53% and a return on equity of 11.93%. The company had revenue of $616.00 million during the quarter, compared to the consensus estimate of $613.49 million. During the same period in the previous year, the firm posted $0.20 earnings per share. The company’s revenue was down 5.8% on a year-over-year basis. equities research analysts expect that Marvell Technology Group will post 1.01 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Wednesday, December 27th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend was Tuesday, December 26th. Marvell Technology Group’s dividend payout ratio is presently 42.11%.
In other Marvell Technology Group news, Director Michael G. Strachan sold 20,000 shares of the business’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $23.65, for a total value of $473,000.00. Following the completion of the transaction, the director now directly owns 19,702 shares of the company’s stock, valued at $465,952.30. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Sehat Sutardja sold 1,266,498 shares of the business’s stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $18.55, for a total transaction of $23,493,537.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,297,822 shares of company stock valued at $24,210,629. Insiders own 6.80% of the company’s stock.
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About Marvell Technology Group
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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