Marvell Technology Group (MRVL) – Analysts’ Weekly Ratings Updates

A number of firms have modified their ratings and price targets on shares of Marvell Technology Group (NASDAQ: MRVL) recently:

  • 3/23/2017 – Marvell Technology Group had its “buy” rating reaffirmed by analysts at B. Riley. They now have a $21.00 price target on the stock.
  • 3/16/2017 – Marvell Technology Group had its “buy” rating reaffirmed by analysts at Loop Capital. They now have a $20.00 price target on the stock. They wrote, “We attended Marvell Technology Group, LTD’s (MRVL) first ever analyst day in NYC on Friday, March 10 and despite the inclement weather it was very well attended. MRVL remains one of our favorite mid-cap ideas for 2017 and we came away from the analyst day with increased confidence in the story. We believe management hit all the right notes outlining the revenue growth drivers across the breadth of its businesses, levers in the model to drive continued improvements to GM and OM, and a solid capital allocation strategy. In addition to MRVL providing a much anticipated long-term model, MRVL guided full year F2018 revenue outlook to be up slightly YoY vs. the Street estimate of down -1% YoY and pulled in and tightened the range for both pro forma gross margin and OpEx in F2018.””
  • 3/13/2017 – Marvell Technology Group had its “buy” rating reaffirmed by analysts at B. Riley. They now have a $21.00 price target on the stock.
  • 3/13/2017 – Marvell Technology Group had its price target raised by analysts at Cowen and Company from $20.00 to $21.00. They now have an “outperform” rating on the stock.
  • 3/13/2017 – Marvell Technology Group was upgraded by analysts at Needham & Company LLC from a “hold” rating to a “buy” rating. They now have a $21.00 price target on the stock. They wrote, “Following Marvell’s inaugural analyst day, in which management laid out its strategy to grow revenue, further streamline operations and increase capital returns to shareholders, we are upgrading our rating to Buy from Hold and establishing a $21 PT . We are fans of the new management team, assembled from a variety of industry leaders. We believe MRVL can drive growth in its core storage, networking and connectivity markets through share gains, targeting market transitions and entering new market segments. NG EPS should continue to increase over the next three years as management drives the business toward its new 30% OM and 30% FCF margin targets.””
  • 3/13/2017 – Marvell Technology Group had its “hold” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $18.00 price target on the stock.
  • 3/13/2017 – Marvell Technology Group was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $18.47 price target on the stock.
  • 3/6/2017 – Marvell Technology Group had its “buy” rating reaffirmed by analysts at B. Riley. They now have a $21.00 price target on the stock.
  • 3/6/2017 – Marvell Technology Group was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $18.00 price target on the stock. According to Zacks, “Marvell reported modest fourth-quarter fiscal 2017 results, wherein the bottom line surpassed the Zacks Consensus Estimate and the top line was almost in line with the same. However, revenues slumped on a year-over-year basis mainly due to lower demand in the mobile handset business. Nonetheless, the company provided an encouraging first-quarter guidance. Though the macro headwinds and stringent regulations might put the company's financials under pressure in the near term, we believe that the strong demand for Marvell’s 4G LTE products could be a growth driver. This will be supported by growth from the company’s wide range of newly-launched IoT solutions. Also, the company’s recent restructuring initiative will help Marvell improve cloud infrastructure and applications, which are expected to drive the company’s top line. The latest buyback scheme also reflects the company’s sound financial position. “
  • 3/6/2017 – Marvell Technology Group had its price target raised by analysts at Citigroup Inc from $13.00 to $14.50. They now have a “sell” rating on the stock.
  • 3/3/2017 – Marvell Technology Group had its price target raised by analysts at Morgan Stanley to $17.00.
  • 3/3/2017 – Marvell Technology Group had its “outperform” rating reaffirmed by analysts at Cowen and Company. They now have a $20.00 price target on the stock.
  • 3/3/2017 – Marvell Technology Group had its “hold” rating reaffirmed by analysts at Needham & Company LLC.
  • 3/3/2017 – Marvell Technology Group had its “hold” rating reaffirmed by analysts at Benchmark Co.. They now have a $17.00 price target on the stock, up previously from $13.00.
  • 3/3/2017 – Marvell Technology Group had its “equal weight” rating reaffirmed by analysts at Barclays PLC. They now have a $16.00 price target on the stock, up previously from $14.00.
  • 3/1/2017 – Marvell Technology Group was upgraded by analysts at Goldman Sachs Group Inc from a “sell” rating to a “neutral” rating. They now have a $16.00 price target on the stock, up previously from $12.00.
  • 3/1/2017 – Marvell Technology Group had its “buy” rating reaffirmed by analysts at Credit Suisse Group AG. They now have a $18.00 price target on the stock.
  • 2/17/2017 – Marvell Technology Group was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Marvell  is a fabless designer, developer and marketer of analog, mixed-signal and digital signal processing integrated circuits. A look at Marvell’s one year price performance shows that the company has outperformed the Zacks categorized Semiconductor-Communications industry. We believe that the strong demand for Marvell’s 4G LTE products will drive growth. This will be supported by growth from the company’s wide range of newly-launched Internet of Things (IoT) solutions. Going forward, the company’s recent restructuring initiative will benefit Marvell to improve cloud infrastructure and applications, which are expected to drive the company’s top line. The latest buyback scheme also reflects the company’s sound financial position and favorable prospects. However, competition in the semiconductor market from major players such as Intel and Texas Instruments remains a headwind.”
  • 2/15/2017 – Marvell Technology Group was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $17.00 price target on the stock. According to Zacks, “Marvell  is a fabless designer, developer and marketer of analog, mixed-signal and digital signal processing integrated circuits. A look at Marvell’s one year price performance shows that the company has outperformed the Zacks categorized Semiconductor-Communications industry. We believe that the strong demand for Marvell’s 4G LTE products will drive growth. This will be supported by growth from the company’s wide range of newly-launched Internet of Things (IoT) solutions. Going forward, the company’s recent restructuring initiative will benefit Marvell to improve cloud infrastructure and applications, which are expected to drive the company’s top line. The latest buyback scheme also reflects the company’s sound financial position and favorable prospects. However, competition in the semiconductor market from major players such as Intel and Texas Instruments remains a headwind.”
  • 2/6/2017 – Marvell Technology Group had its price target raised by analysts at Cowen and Company from $18.00 to $20.00. They now have an “outperform” rating on the stock.
  • 2/2/2017 – Marvell Technology Group was upgraded by analysts at Vetr from a “strong sell” rating to a “hold” rating. They now have a $15.20 price target on the stock.

Shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) traded down 0.849% during midday trading on Monday, hitting $15.765. The stock had a trading volume of 2,795,032 shares. Marvell Technology Group Ltd. has a one year low of $9.05 and a one year high of $16.72. The company has a market cap of $8.01 billion, a P/E ratio of 384.512 and a beta of 1.11. The stock has a 50 day moving average of $15.91 and a 200-day moving average of $14.23.

Marvell Technology Group (NASDAQ:MRVL) last released its quarterly earnings results on Thursday, March 2nd. The company reported $0.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.03. Marvell Technology Group had a return on equity of 3.28% and a net margin of 4.33%. The business had revenue of $571.40 million for the quarter, compared to analysts’ expectations of $567.68 million. During the same quarter in the previous year, the firm posted $0.11 earnings per share. The company’s revenue was down 5.2% compared to the same quarter last year. Analysts forecast that Marvell Technology Group Ltd. will post $1.01 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 20th. Investors of record on Tuesday, April 4th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend is Friday, March 31st. Marvell Technology Group’s dividend payout ratio (DPR) is 114.29%.

Marvell Technology Group Ltd. is a fabless 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) and System-in-a-Package (SiP) devices. Its product portfolio includes devices for data storage, enterprise-class Ethernet data switching, Ethernet physical-layer transceivers (PHY), wireless connectivity, Internet-of-Things (IoT) devices and multimedia solutions.

5 Day Chart for NASDAQ:MRVL

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