Marvell Technology Group Ltd. (NASDAQ:MRVL) Expected to Post Q2 2020 Earnings of $0.05 Per Share

Marvell Technology Group Ltd. (NASDAQ:MRVL) – Equities research analysts at William Blair issued their Q2 2020 EPS estimates for shares of Marvell Technology Group in a research note issued on Monday, July 15th. William Blair analyst A. Vecchi anticipates that the semiconductor company will earn $0.05 per share for the quarter. William Blair has a “Outperform” rating and a $25.40 price target on the stock. William Blair also issued estimates for Marvell Technology Group’s Q3 2020 earnings at $0.11 EPS, Q4 2020 earnings at $0.16 EPS, FY2020 earnings at $0.41 EPS, Q1 2021 earnings at $0.15 EPS, Q2 2021 earnings at $0.19 EPS, Q3 2021 earnings at $0.25 EPS, Q4 2021 earnings at $0.27 EPS and FY2021 earnings at $0.87 EPS.

A number of other equities analysts also recently commented on MRVL. Raymond James set a C$2.25 price objective on shares of Integra Resources and gave the stock an “outperform” rating in a research report on Wednesday, June 19th. Piper Jaffray Companies upped their price objective on shares of Marvell Technology Group from $22.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. B. Riley set a $18.00 price objective on shares of TiVo and gave the stock a “buy” rating in a research report on Friday, May 31st. ValuEngine upgraded shares of Vale from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Zacks Investment Research upgraded shares of Grana y Montero SAA from a “sell” rating to a “hold” rating in a research report on Monday, June 10th. Five research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $26.00.

Shares of NASDAQ:MRVL opened at $26.39 on Wednesday. The firm has a market cap of $17.02 billion, a PE ratio of 31.05, a P/E/G ratio of 8.13 and a beta of 1.17. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.67 and a current ratio of 2.07. Marvell Technology Group has a 1-year low of $14.34 and a 1-year high of $26.65. The stock’s fifty day simple moving average is $24.16.

Marvell Technology Group (NASDAQ:MRVL) last issued its quarterly earnings results on Thursday, May 30th. The semiconductor company reported $0.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.02. The firm had revenue of $662.00 million during the quarter, compared to analysts’ expectations of $651.07 million. Marvell Technology Group had a negative net margin of 12.18% and a positive return on equity of 5.88%. Marvell Technology Group’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.32 EPS.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, July 12th will be issued a $0.06 dividend. The ex-dividend date is Thursday, July 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.91%. Marvell Technology Group’s dividend payout ratio is presently 28.24%.

In other Marvell Technology Group news, CAO Willem A. Meintjes sold 28,057 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $24.32, for a total transaction of $682,346.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Oleg Khaykin sold 10,000 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $23.89, for a total transaction of $238,900.00. Following the transaction, the director now owns 33,204 shares of the company’s stock, valued at $793,243.56. The disclosure for this sale can be found here. Insiders sold a total of 323,057 shares of company stock valued at $8,299,646 in the last quarter. Insiders own 1.10% of the company’s stock.

Large investors have recently bought and sold shares of the business. Quadrant Capital Group LLC increased its holdings in Marvell Technology Group by 1,266.3% during the 1st quarter. Quadrant Capital Group LLC now owns 2,678 shares of the semiconductor company’s stock valued at $51,000 after acquiring an additional 2,482 shares in the last quarter. Massey Quick Simon & CO. LLC purchased a new position in Marvell Technology Group during the 1st quarter valued at about $59,000. YorkBridge Wealth Partners LLC purchased a new position in Marvell Technology Group during the 1st quarter valued at about $68,000. Whittier Trust Co. increased its holdings in Marvell Technology Group by 1,140.7% during the 1st quarter. Whittier Trust Co. now owns 6,526 shares of the semiconductor company’s stock valued at $130,000 after acquiring an additional 6,000 shares in the last quarter. Finally, Investors Research Corp purchased a new position in Marvell Technology Group during the 1st quarter valued at about $135,000.

Marvell Technology Group Company Profile

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 preamplifiers; supports a variety of host system interfaces consisting of serial attached SCSI (SAS), serial advanced technology attachment (SATA), peripheral component interconnect express, and non-volatile memory express; and develops software-enabled silicon solutions comprising SATA port multipliers, bridges, SATA, SAS, 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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