AMP Capital Investors Ltd Has $9.30 Million Stake in Marvell Technology Group Ltd. (MRVL)

AMP Capital Investors Ltd grew its position in Marvell Technology Group Ltd. (NASDAQ:MRVL) by 9.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 519,191 shares of the semiconductor company’s stock after buying an additional 45,800 shares during the quarter. AMP Capital Investors Ltd owned 0.10% of Marvell Technology Group worth $9,295,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of MRVL. Boston Partners raised its position in shares of Marvell Technology Group by 51.4% in the 3rd quarter. Boston Partners now owns 12,205,587 shares of the semiconductor company’s stock valued at $218,480,000 after buying an additional 4,143,929 shares in the last quarter. Epoch Investment Partners Inc. raised its position in shares of Marvell Technology Group by 981.1% in the 3rd quarter. Epoch Investment Partners Inc. now owns 3,983,148 shares of the semiconductor company’s stock valued at $71,298,000 after buying an additional 3,614,719 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Marvell Technology Group by 239.6% in the 2nd quarter. Renaissance Technologies LLC now owns 3,886,158 shares of the semiconductor company’s stock valued at $64,199,000 after buying an additional 2,741,914 shares in the last quarter. Jennison Associates LLC acquired a new position in shares of Marvell Technology Group in the 2nd quarter valued at approximately $36,663,000. Finally, TimesSquare Capital Management LLC raised its position in shares of Marvell Technology Group by 60.2% in the 2nd quarter. TimesSquare Capital Management LLC now owns 4,461,600 shares of the semiconductor company’s stock valued at $73,706,000 after buying an additional 1,677,100 shares in the last quarter. Institutional investors own 78.83% of the company’s stock.

Marvell Technology Group Ltd. (NASDAQ MRVL) opened at $22.05 on Tuesday. Marvell Technology Group Ltd. has a 12-month low of $13.83 and a 12-month high of $24.22. The stock has a market cap of $10,830.00, a P/E ratio of 23.70, a price-to-earnings-growth ratio of 1.33 and a beta of 1.13.

Marvell Technology Group (NASDAQ:MRVL) last announced its quarterly earnings results on Tuesday, November 28th. The semiconductor company reported $0.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.01. Marvell Technology Group had a net margin of 16.53% and a return on equity of 11.93%. The firm had revenue of $616.00 million during the quarter, compared to analysts’ expectations of $613.49 million. During the same period in the prior year, the company posted $0.20 EPS. The company’s revenue was down 5.8% on a year-over-year basis. equities research analysts forecast that Marvell Technology Group Ltd. will post 1.01 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Wednesday, December 27th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.09%. Marvell Technology Group’s dividend payout ratio (DPR) is currently 42.11%.

In other news, major shareholder Sehat Sutardja sold 1,000,000 shares of the company’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $17.73, for a total value of $17,730,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Marvell Semiconductor, Inc. Ca sold 9,812 shares of the company’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $21.20, for a total transaction of $208,014.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,075,504 shares of company stock valued at $277,335,751. Corporate insiders own 6.80% of the company’s stock.

A number of equities analysts recently issued reports on the stock. B. Riley reiterated a “buy” rating and set a $23.00 price objective on shares of Marvell Technology Group in a research report on Friday, September 1st. BidaskClub upgraded shares of Marvell Technology Group from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 16th. Stifel Nicolaus upped their price objective on shares of Marvell Technology Group from $16.00 to $19.00 and gave the stock a “hold” rating in a research report on Wednesday, November 29th. Cowen reiterated a “buy” rating and set a $21.00 price objective on shares of Marvell Technology Group in a research report on Monday, August 21st. Finally, KeyCorp upped their price objective on shares of Marvell Technology Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Friday, August 25th. Eight analysts have rated the stock with a hold rating, eighteen have issued 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 a consensus target price of $23.72.

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About Marvell Technology Group

Marvell Technology Group Ltd. is a 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) devices. It also develops integrated hardware platforms along with software that incorporates digital computing technologies designed and configured to provide an optimized computing solution.

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Institutional Ownership by Quarter for Marvell Technology Group (NASDAQ:MRVL)

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