Marvell Technology Group (NASDAQ:MRVL) will be posting its quarterly earnings results after the market closes on Thursday, May 31st. Analysts expect Marvell Technology Group to post earnings of $0.26 per share for the quarter. Marvell Technology Group has set its Q1 guidance at $0.29-0.33 EPS.
Marvell Technology Group (NASDAQ:MRVL) last released its earnings results on Thursday, March 8th. The semiconductor company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.01. The business had revenue of $615.40 million for the quarter, compared to analyst estimates of $610.99 million. Marvell Technology Group had a net margin of 21.56% and a return on equity of 13.13%. Marvell Technology Group’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.22 earnings per share. On average, analysts expect Marvell Technology Group to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.
Marvell Technology Group opened at $22.05 on Thursday, Marketbeat.com reports. The firm has a market capitalization of $10.71 billion, a P/E ratio of 21.20, a PEG ratio of 1.65 and a beta of 0.98. Marvell Technology Group has a 12-month low of $14.87 and a 12-month high of $25.18.
In related news, CEO Matthew J. Murphy sold 10,000 shares of the company’s stock in a transaction dated Wednesday, April 4th. The shares were sold at an average price of $20.00, for a total value of $200,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Marvell Semiconductor, Inc. Ca sold 3,310 shares of the company’s stock in a transaction dated Wednesday, April 18th. The stock was sold at an average price of $22.40, for a total transaction of $74,144.00. The disclosure for this sale can be found here. Insiders have sold 53,310 shares of company stock worth $1,208,344 in the last quarter. Company insiders own 0.10% of the company’s stock.
Several equities analysts recently issued reports on MRVL shares. Stifel Nicolaus boosted their target price on shares of Marvell Technology Group from $19.00 to $21.00 and gave the company a “hold” rating in a report on Friday, March 9th. BidaskClub lowered shares of Marvell Technology Group from a “buy” rating to a “hold” rating in a report on Tuesday, March 27th. Zacks Investment Research lowered shares of Marvell Technology Group from a “hold” rating to a “sell” rating in a report on Wednesday, March 7th. TheStreet upgraded shares of Marvell Technology Group from a “c+” rating to a “b-” rating in a report on Monday, April 16th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $23.00 target price (up previously from $22.00) on shares of Marvell Technology Group in a report on Friday, March 9th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $25.59.
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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