Marvell Technology Group Ltd. (NASDAQ:MRVL) CEO Matthew J. Murphy sold 7,500 shares of the company's stock in a transaction dated Wednesday, July 15th. The stock was sold at an average price of $36.72, for a total transaction of $275,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
MRVL stock traded down $0.07 during mid-day trading on Friday, reaching $36.52. 4,674,161 shares of the stock traded hands, compared to its average volume of 10,335,780. The firm has a market capitalization of $24.30 billion, a PE ratio of 16.33, a P/E/G ratio of 2.86 and a beta of 1.08. The business has a 50-day moving average of $34.77 and a two-hundred day moving average of $27.41. Marvell Technology Group Ltd. has a 52 week low of $16.45 and a 52 week high of $39.40. The company has a quick ratio of 1.75, a current ratio of 2.14 and a debt-to-equity ratio of 0.17.
Marvell Technology Group (NASDAQ:MRVL) last posted its quarterly earnings data on Thursday, May 28th. The semiconductor company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.04. The business had revenue of $694.00 million during the quarter, compared to analysts' expectations of $680.19 million. Marvell Technology Group had a return on equity of 2.82% and a net margin of 55.66%. The firm's revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.16 EPS. On average, equities research analysts anticipate that Marvell Technology Group Ltd. will post 0.57 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 29th. Stockholders of record on Monday, July 13th will be given a $0.06 dividend. The ex-dividend date is Friday, July 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.66%. Marvell Technology Group's dividend payout ratio is 75.00%.
Several equities research analysts recently weighed in on the stock. B. Riley upped their price objective on shares of Marvell Technology Group from $34.00 to $38.00 and gave the stock a "buy" rating in a report on Friday, May 29th. Benchmark upped their target price on Marvell Technology Group from $30.00 to $35.00 and gave the company a "buy" rating in a report on Wednesday, May 27th. Susquehanna Bancshares reiterated a "buy" rating and issued a $36.00 price target on shares of Marvell Technology Group in a research report on Friday, May 29th. Morgan Stanley boosted their price objective on Marvell Technology Group from $33.50 to $36.00 and gave the stock an "equal weight" rating in a report on Tuesday, June 16th. Finally, JPMorgan Chase & Co. raised their target price on shares of Marvell Technology Group from $31.00 to $36.00 and gave the stock an "overweight" rating in a report on Friday, May 29th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company's stock. Marvell Technology Group currently has an average rating of "Buy" and an average price target of $32.96.
Institutional investors have recently made changes to their positions in the company. First Mercantile Trust Co. raised its stake in Marvell Technology Group by 1.5% during the 1st quarter. First Mercantile Trust Co. now owns 26,464 shares of the semiconductor company's stock valued at $599,000 after purchasing an additional 396 shares during the last quarter. Gagnon Securities LLC raised its holdings in shares of Marvell Technology Group by 3.5% during the first quarter. Gagnon Securities LLC now owns 14,200 shares of the semiconductor company's stock worth $321,000 after acquiring an additional 477 shares during the period. American International Group Inc. boosted its stake in Marvell Technology Group by 5.1% in the 1st quarter. American International Group Inc. now owns 10,808 shares of the semiconductor company's stock worth $245,000 after purchasing an additional 524 shares during the period. Savior LLC raised its stake in shares of Marvell Technology Group by 1.6% in the 1st quarter. Savior LLC now owns 32,553 shares of the semiconductor company's stock valued at $737,000 after purchasing an additional 528 shares during the period. Finally, Pendal Group Ltd lifted its holdings in shares of Marvell Technology Group by 4.5% in the first quarter. Pendal Group Ltd now owns 20,338 shares of the semiconductor company's stock valued at $460,000 after purchasing an additional 877 shares in the last quarter. Institutional investors and hedge funds own 91.91% of the company's stock.
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 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.
Featured Article: What is the 52-week high/low?
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
10 Buy and Hold Stocks to Add to Your Portfolio
“Set it and forget it” are words many investors don’t want to hear. Even the most venerable brokerage houses are encouraging their clients to actively trade so they can beat the market. Buy and hold is a relic, they say. It doesn’t reflect the reality of today.
In other words, “this time it’s different”.
As the ongoing volatility in the market shows you, it’s not different. It’s not even close to being different. The simple fact is that many active traders lose money by being too aggressive and too active for their own good.
And while it’s true that the market won’t always be this choppy, and certain stocks may be a great buy in months to come, right now investors are looking for safe harbors. One of the safest ways to invest is to find stocks that you can feel comfortable holding on to even in the worst of times. Frequently that can be because the stocks offer an attractive dividend. But sometimes, it’s also because they are in a market that is always in demand.
But that doesn’t mean you have to limit yourself to defensive stocks. You can find some quality buy-and-hold stocks that offer some attractive growth prospects.
View the "10 Buy and Hold Stocks to Add to Your Portfolio".