Somewhat Favorable Press Coverage Somewhat Unlikely to Affect Marvell Technology Group (MRVL) Share Price

Press coverage about Marvell Technology Group (NASDAQ:MRVL) has been trending somewhat positive recently, Accern Sentiment reports. The research group ranks the sentiment of news coverage by reviewing more than twenty million blog and news sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Marvell Technology Group earned a media sentiment score of 0.13 on Accern’s scale. Accern also gave media headlines about the semiconductor company an impact score of 46.5818279802338 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.

Here are some of the news stories that may have impacted Accern Sentiment Analysis’s rankings:

Shares of Marvell Technology Group (NASDAQ MRVL) opened at 18.36 on Wednesday. The company has a market cap of $9.10 billion, a PE ratio of 35.58 and a beta of 1.13. Marvell Technology Group has a 1-year low of $12.30 and a 1-year high of $18.72. The company has a 50-day moving average price of $17.97 and a 200-day moving average price of $16.54.

Marvell Technology Group (NASDAQ:MRVL) last issued its quarterly earnings results on Thursday, August 24th. The semiconductor company reported $0.25 EPS for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.03). The business had revenue of $604.75 million for the quarter, compared to the consensus estimate of $600.76 million. Marvell Technology Group had a return on equity of 9.99% and a net margin of 10.97%. The business’s revenue was up 16.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.18 earnings per share. Equities research analysts expect that Marvell Technology Group will post $1.13 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 26th. Investors of record on Tuesday, October 10th will be issued a dividend of $0.06 per share. The ex-dividend date is Friday, October 6th. This represents a $0.24 dividend on an annualized basis and a yield of 1.31%. Marvell Technology Group’s dividend payout ratio (DPR) is currently 47.06%.

Several research firms have recently issued reports on MRVL. BidaskClub lowered Marvell Technology Group from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. Jefferies Group LLC restated a “hold” rating and set a $18.50 target price (down from $19.00) on shares of Marvell Technology Group in a research report on Thursday, August 24th. Needham & Company LLC restated a “buy” rating and set a $21.00 target price on shares of Marvell Technology Group in a research report on Thursday, August 24th. BMO Capital Markets restated a “market perform” rating and set a $16.00 target price on shares of Marvell Technology Group in a research report on Monday, August 28th. Finally, Zacks Investment Research lowered Marvell Technology Group from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $19.31.

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In other Marvell Technology Group news, major shareholder Sehat Sutardja sold 420,422 shares of the business’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $17.84, for a total value of $7,500,328.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 15,754,429 shares of company stock worth $287,418,990. Corporate insiders own 6.80% of the company’s stock.

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.

Insider Buying and Selling by Quarter for Marvell Technology Group (NASDAQ:MRVL)

Insider Buying and Selling by Quarter for Marvell Technology Group (NASDAQ:MRVL)

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