Marvell Technology Group Ltd. (NASDAQ:MRVL) announced a quarterly dividend on Thursday, March 15th, RTT News reports. Shareholders 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 yield of 1.09%. The ex-dividend date is Wednesday, March 28th.
Shares of Marvell Technology Group stock traded down $0.94 during trading hours on Thursday, hitting $22.06. The company had a trading volume of 6,772,387 shares, compared to its average volume of 8,987,741. The stock has a market capitalization of $11,465.43, a PE ratio of 21.86, a price-to-earnings-growth ratio of 1.78 and a beta of 0.91. Marvell Technology Group has a one year low of $14.58 and a one year high of $25.18.
Marvell Technology Group (NASDAQ:MRVL) last announced its earnings results on Thursday, March 8th. The semiconductor company reported $0.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.01. The company had revenue of $615.40 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.22 earnings per share. equities analysts predict that Marvell Technology Group will post 1.16 EPS for the current year.
A number of analysts recently commented on MRVL shares. Cowen reiterated an “outperform” rating and set a $29.00 price target (up from $21.00) on shares of Marvell Technology Group in a report on Monday, November 27th. Stifel Nicolaus lifted their price target on Marvell Technology Group from $19.00 to $21.00 and gave the stock a “hold” rating in a report on Friday, March 9th. ValuEngine upgraded Marvell Technology Group from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. BMO Capital Markets lifted their price target on Marvell Technology Group to $25.00 and gave the stock a “market perform” rating in a report on Monday, November 27th. Finally, Oppenheimer reiterated a “buy” rating and set a $30.00 price target on shares of Marvell Technology Group in a report on Wednesday, November 29th. Seven equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $25.02.
In related news, Director Michael G. Strachan sold 20,000 shares of the business’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $23.65, for a total transaction of $473,000.00. Following the completion of the transaction, the director now directly owns 19,702 shares in the company, valued at $465,952.30. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Matthew J. Murphy sold 30,000 shares of the business’s stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $24.24, for a total value of $727,200.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 51,512 shares of company stock valued at $1,236,276. 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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