$0.31 EPS Expected for Marvell Technology Group Ltd. (MRVL) This Quarter
$0.31 EPS Expected for Marvell Technology Group Ltd. (MRVL) This Quarter
23 February, 2018, 23:23
Marvell Technology Group Ltd. (MRVL) has been given an average price target of $27.26 from analysts, according to data collected by Finviz. They expect $0.27 EPS, up 50.00% or $0.09 from last year's $0.18 per share.
Marvell Technology Group Ltd. (MRVL) remained successful in beating the consensus-estimated $0.33 as it actually earned $0.34 per share in its last reported financial results. Montag A & Associates Inc.'s holdings in Marvell Technology Group were worth $1,786,000 at the end of the most recent reporting period. New York-based D E Shaw Incorporated has invested 0.01% in Marvell Technology Group Ltd. (NASDAQ:MRVL).
Marvell Technology Group (NASDAQ:MRVL) last announced its quarterly earnings data on Tuesday, November 28th. According to the Analysts, the Low Earnings estimate for the current quarter is $0.27, while the High earnings estimate is $0.32.Comparatively, EPS for the same quarter past year was $0.26. The company had revenue of $616.00 million for the quarter, compared to analysts' expectations of $613.49 million. Marvell Technology Group had a net margin of 16.53% and a return on equity of 11.93%. The firm's revenue for the quarter was down 5.8% compared to the same quarter past year. After $0.57 actual EPS reported by Cavium, Inc. for the previous quarter, Wall Street now forecasts -28.07% negative EPS growth.
MRVL has been the subject of a number of research analyst reports. Zacks Investment Research raised Marvell Technology Group from a "hold" rating to a "buy" rating and set a $23.00 price objective on the stock in a research report on Tuesday, November 21st. Cowen reaffirmed an "outperform" rating and set a $29.00 price objective (up from $21.00) on shares of Marvell Technology Group in a research note on Monday, November 27th.
Marvell Technology Group (NASDAQ:MRVL) last released its earnings results on Tuesday, November 28th. Following the completion of the sale, the director now directly owns 19,702 shares in the company, valued at $465,952.30. (The Scale is from 1-5 where 1 means Strong Buy and 5 means Strong Sell). Marvell Technology Group now has a consensus rating of "Buy" and a consensus price target of $23.92.
Marvell Technology is a leading designer, developer and supplier of mixed-signal and digital signal processing integrated circuit for high-speed, high-density, digital data storage and broadband digital data networking markets. Jericho Capital Asset Management Lp who had been investing in Marvell Technology Group Ltd for a number of months, seems to be less bullish one the $11.50B market cap company. The company has the market capitalization of $129.82 Billion. At current stock price levels, we have noted that MRVL's stock price is separated -4.50% from the 52 week high and 58.64% off of the 52 week low.
Cavium, Inc. designs, develops, and markets semiconductor processors for intelligent and secure networks in the United States and internationally. The rating was maintained by UBS on Thursday, December 1 with "Sell". (FGEN) price hitting a mean target of $69 a share, meaning the stock still has potential that could lift the price another 23.21% Also, the recent close suggests the stock is underpriced by 42.86% compared to the most bullish target. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
In other Marvell Technology Group news, Director Michael G. Strachan sold 20,000 shares of the stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $23.65, for a total transaction of $473,000.00. JPMorgan Chase & Co. now owns 9,581,295 shares of the semiconductor company's stock worth $172,175,000 after purchasing an additional 830,797 shares in the last quarter. The disclosure for this sale can be found here. LLC acquired a new stake in shares of Marvell Technology Group during the third quarter worth approximately $124,000. The company has volume of 6.85 Million shares.
Several large investors have recently made changes to their positions in MRVL. Advisor Group Inc. raised its holdings in Marvell Technology Group by 516.2% in the 4th quarter. The firm owned 83,168 shares of the semiconductor company's stock after selling 31,900 shares during the period. Finally, Advisors Asset Management Inc. increased its holdings in Marvell Technology Group by 8.0% in the third quarter. Lucus Advsr Ltd Llc reported 0.49% of its portfolio in Marvell Technology Group Ltd. (NASDAQ:MRVL).
When we see the company's Volatility, it now has a monthly volatility of 3.10% and weekly volatility of 2.71%. Finally, JPMorgan Chase & Co. grew its stake in shares of Marvell Technology Group by 9.5% in the 3rd quarter. Allianz Asset Management GmbH now owns 4,760,965 shares of the semiconductor company's stock worth $85,221,000 after purchasing an additional 1,331,765 shares in the last quarter.
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