Marvell Technology Group Ltd. (NASDAQ:MRVL) Rated Neutral, Even As JMP Revises PT


Dallas, Texas 02/26/2014 (FINANCIALSTRENDS) – Marvell Technology Group Ltd.(NASDAQ:MRVL), Bermuda based semiconductor and application provider on the fabless platform has nearly invented the niche of System on a Chip(SoC) device making. The technology company has proved to be success because it also provides alternate technology solutions which take care of diverse Ethernet data switching to data switching. The company has been looking at various solutions which are regarded as providers of Physical-layer transreceivers besides mobile handsets as well as other range of consumer services.

Analyst revisions

Marvell Technology Group Ltd.(NASDAQ:MRVL)  has also received mixed ratings from  analysts. First, was the raise in the Price Target by JMP securities for this telecom services provider. The increase by JMP was from previous $9 to $10, following the likely downslide of 35.15% over the current price. The company also expected to see its shares trade higher following the announcement of the Feb 20 earnings data.

Marvell Technology Group Ltd.(NASDAQ:MRVL) reported $0.29 EPs which beat Reuters consensus by over $0.04.the earlier expectation was $0.25. The revenue earning too was in the region of $931.70 million for the quarter. The company also recorded that the revenue earnings estimate be in the region of $901.13 million. As per analyst discussions, this was in the region of $1.07 EPS over the fiscal year.

Marvell Technology Group Ltd.(NASDAQ:MRVL) has also offered quarterly dividend as well. This will now be scheduled for March 27. The company will offer the benefits to investors who hold investments as of March 13. The company is expected to see dividends for each share in the range of $0.06. the company also expects to see over $0.24 dividend which will be annualized along with yield of 1.56%. The ex-dividend date for the same is expected to be announced by March 11, 2014.

Marvell Technology Group Ltd.(NASDAQ:MRVL) also saw their share prices see an increase in the price target from $15.00 to $16.00. The rating is now placed on ‘hold’. The stock rating by seven other research analysts indicates ‘hold’ rating on the same. Eight others show a Buy rating. The average rating is ‘Buy’ along with target price of $15.64.