Marvell Technology Group Ltd.(NASDAQ:MRVL) announced the earnings results for Fiscal Year 2017 and Q3. The results came in during After-hours on Nov 17, 2016. Company reported revenue of $654.42M. Analysts estimated a revenue of $615.89M. The revenues were $38.53M or 6.26% above the estimates. Earnings per share were $0.20. The reported EPS was above estimates by $0.08 or 66.67%. Analysts had estimated an EPS of $0.12.
In a different note, Susquehanna said it Initiates Coverage on Marvell Technology Group Ltd., according to a research note issued on Sep 20, 2016. The shares have been rated ‘Neutral’ by the firm. On Sep 7, 2016, Goldman Sachs said it Reinstates its rating on Marvell Technology Group Ltd.. The shares have been rated ‘Neutral’ by the firm. On Sep 2, 2016, Citigroup said it Maintains its rating on Marvell Technology Group Ltd.. In the research note, the firm Raises the price-target to $10.50 per share. The shares have been rated ‘Sell’ by the firm. Stephens & Co. said it Initiates Coverage on Marvell Technology Group Ltd., according to a research note issued on Aug 31, 2016. The shares have been rated ‘Overweight’ by the firm.
Marvell Technology Group Ltd. (MRVL) made into the market gainers list on Mondays trading session with the shares advancing 10.78% or 1.44 points. Due to strong positive momentum, the stock ended at $14.8, which is also near the day’s high of $14.8. The stock began the session at $14.63 and the volume stood at 2,54,37,256 shares. The 52-week high of the shares is $14.8 and the 52 week low is $7.4. The company has a current market capitalization of $7,578 M and it has 51,20,41,280 shares in outstanding.
Several Insider Transactions has been reported to the SEC. On Jun 25, 2015, Zining Wu (Chief Technology Officer) sold 51,312 shares at $14.51 per share price.
Marvell Technology Group Ltd. (Marvell) is a fabless semiconductor provider of application-specific standard products. The Company develops System-on-a-Chip (SoC) devices. Its product portfolio includes devices for data storage enterprise-class Ethernet data switching Ethernet physical-layer transceivers (PHY) mobile handsets connectivity Internet-of-Things (IoT) devices and other consumer electronics. Its products serve diverse applications used in carrier metropolitan enterprise and PC-client data communications and storage systems. In addition the Company serves the consumer electronics market for the convergence of voice video and data applications. As a fabless integrated circuit company the Company relies on independent third-party contractors to perform manufacturing assembly and test functions. The Company’s offers its products to three markets: mobile and wireless storage and networking.