Media stories about Marvell Technology Group (NASDAQ:MRVL) have been trending somewhat positive on Tuesday, according to Accern Sentiment. The research firm identifies positive and negative press coverage by analyzing more than twenty million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Marvell Technology Group earned a daily sentiment score of 0.12 on Accern’s scale. Accern also assigned news articles about the semiconductor company an impact score of 45.7918692015318 out of 100, meaning that recent press 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’s analysis:
Several equities analysts recently issued reports on the company. ValuEngine upgraded Marvell Technology Group from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Piper Jaffray Companies started coverage on Marvell Technology Group in a research note on Monday, December 18th. They set an “overweight” rating and a $25.00 price target on the stock. Morgan Stanley boosted their price target on Marvell Technology Group from $20.50 to $22.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 13th. BidaskClub lowered Marvell Technology Group from a “buy” rating to a “hold” rating in a research note on Saturday, December 2nd. Finally, Oppenheimer reaffirmed a “buy” rating and issued a $30.00 target price on shares of Marvell Technology Group in a research note on Wednesday, November 29th. Eight research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. Marvell Technology Group presently has an average rating of “Buy” and an average target price of $23.92.
Marvell Technology Group (MRVL) traded up $0.62 during trading hours on Tuesday, reaching $21.92. 6,651,400 shares of the company’s stock were exchanged, compared to its average volume of 8,403,573. Marvell Technology Group has a one year low of $14.58 and a one year high of $24.22. The stock has a market cap of $10,770.00, a PE ratio of 38.46, a P/E/G ratio of 1.12 and a beta of 0.95.
Marvell Technology Group (NASDAQ:MRVL) last issued its quarterly earnings results on Tuesday, November 28th. The semiconductor company reported $0.34 EPS 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 11.93%. The business had revenue of $616.00 million for the quarter, compared to analysts’ expectations of $613.49 million. During the same quarter last year, the company posted $0.20 earnings per share. The company’s quarterly revenue was down 5.8% compared to the same quarter last year. analysts forecast that Marvell Technology Group will post 1.01 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Wednesday, December 27th were paid a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, December 26th. This represents a $0.24 annualized dividend and a dividend yield of 1.09%. Marvell Technology Group’s payout ratio is currently 42.11%.
In related news, Director Michael G. Strachan sold 20,000 shares of the firm’s stock in a transaction that occurred on 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 owns 19,702 shares of the company’s stock, valued at approximately $465,952.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Marvell Semiconductor, Inc. Ca sold 1,512 shares of the firm’s stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $23.86, for a total transaction of $36,076.32. The disclosure for this sale can be found here. Insiders sold 31,324 shares of company stock worth $717,091 in the last 90 days. 6.80% of the stock is owned by company 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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