Marvell Technology Group (NASDAQ:MRVL) will release its earnings data after the market closes on Tuesday, December 4th. Analysts expect Marvell Technology Group to post earnings of $0.19 per share for the quarter.
Marvell Technology Group (NASDAQ:MRVL) last issued its quarterly earnings results on Thursday, September 6th. The semiconductor company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.01). Marvell Technology Group had a net margin of 15.36% and a return on equity of 10.70%. The business had revenue of $665.31 million during the quarter, compared to analyst estimates of $685.00 million. During the same quarter in the previous year, the firm posted $0.30 earnings per share. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. 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 MRVL stock opened at $15.98 on Tuesday. The company has a current ratio of 2.54, a quick ratio of 1.76 and a debt-to-equity ratio of 0.25. Marvell Technology Group has a 1 year low of $14.69 and a 1 year high of $25.18. The firm has a market capitalization of $10.30 billion, a price-to-earnings ratio of 15.37, a price-to-earnings-growth ratio of 1.86 and a beta of 1.09.
Marvell Technology Group announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, October 16th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to repurchase up to 7.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
Several brokerages have issued reports on MRVL. ValuEngine lowered shares of Marvell Technology Group from a “hold” rating to a “sell” rating in a research note on Tuesday, November 20th. Zacks Investment Research reiterated a “buy” rating and issued a $19.00 price target on shares of Marvell Technology Group in a research note on Wednesday, November 14th. BidaskClub lowered shares of Marvell Technology Group from a “hold” rating to a “sell” rating in a research note on Thursday, November 8th. TheStreet lowered shares of Marvell Technology Group from a “b” rating to a “c+” rating in a research note on Friday, October 26th. Finally, Barclays lowered their price target on shares of Marvell Technology Group from $30.00 to $25.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 23rd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and twenty have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $25.41.
In other news, CEO Matthew J. Murphy sold 10,000 shares of Marvell Technology Group stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $20.64, for a total value of $206,400.00. Following the completion of the transaction, the chief executive officer now owns 1,755 shares of the company’s stock, valued at approximately $36,223.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.10% of the company’s stock.
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About Marvell Technology Group
Marvell Technology Group Ltd. designs, develops, and markets analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a range of storage products, including hard disk drive (HDD) and solid-state drive controllers, as well as HDD components, such as HDD preamps components; and develops software-enabled silicon solutions comprising serial advanced technology attachment port multipliers, bridges, serial attached SCSI, and non-volatile memory express redundant array of independent disks controllers and converged storage processors for enterprises, data centers, and cloud computing businesses.
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