Marvell Technology Group Ltd. (NASDAQ:MRVL) announced a quarterly dividend on Thursday, March 15th, RTT News reports. Stockholders of record on Thursday, March 29th will be paid a dividend of 0.06 per share by the semiconductor company on Wednesday, April 18th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.03%.
Marvell Technology Group (NASDAQ MRVL) traded down $0.21 during trading on Thursday, reaching $23.19. The company had a trading volume of 10,865,120 shares, compared to its average volume of 9,125,394. The firm has a market cap of $11,376.17, a price-to-earnings ratio of 22.79, a PEG ratio of 1.76 and a beta of 0.91. Marvell Technology Group has a 12-month low of $14.58 and a 12-month high of $25.18.
Marvell Technology Group (NASDAQ:MRVL) last released its quarterly earnings results on Thursday, March 8th. The semiconductor company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.31 by $0.01. The firm had revenue of $615.40 million for the quarter, compared to analyst estimates of $610.99 million. Marvell Technology Group had a return on equity of 13.25% and a net margin of 21.56%. Marvell Technology Group’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.22 EPS. research analysts forecast that Marvell Technology Group will post 1.16 EPS for the current year.
In related news, Director Michael G. Strachan sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $23.65, for a total transaction of $473,000.00. Following the sale, the director now directly owns 19,702 shares of the company’s stock, valued at approximately $465,952.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Marvell Semiconductor, Inc. Ca sold 1,512 shares of the company’s stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $23.86, for a total value of $36,076.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,512 shares of company stock worth $1,236,276. Corporate insiders own 6.80% of the company’s stock.
Several equities analysts recently commented on the company. BMO Capital Markets boosted their price target on Marvell Technology Group to $25.00 and gave the stock a “market perform” rating in a research report on Monday, November 27th. ValuEngine raised Marvell Technology Group from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Morgan Stanley reaffirmed an “equal weight” rating and issued a $23.00 target price (up from $22.00) on shares of Marvell Technology Group in a research report on Friday, March 9th. B. Riley reaffirmed a “buy” rating and issued a $29.00 target price on shares of Marvell Technology Group in a research report on Wednesday, November 29th. Finally, Bank of America raised Marvell Technology Group from a “neutral” rating to a “buy” rating in a research report on Monday, November 20th. Seven research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $25.02.
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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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