Aperio Group LLC increased its holdings in Marvell Technology Group Ltd. (NASDAQ:MRVL) by 6.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 65,349 shares of the semiconductor company’s stock after purchasing an additional 4,244 shares during the period. Aperio Group LLC’s holdings in Marvell Technology Group were worth $1,403,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in MRVL. Boston Partners boosted its stake 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 purchasing an additional 4,143,929 shares in the last quarter. Epoch Investment Partners Inc. boosted its position in Marvell Technology Group by 981.1% during 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 during the period. Allianz Asset Management GmbH boosted its position in Marvell Technology Group by 38.8% during the 3rd quarter. Allianz Asset Management GmbH now owns 4,760,965 shares of the semiconductor company’s stock valued at $85,221,000 after buying an additional 1,331,765 shares during the period. TD Asset Management Inc. boosted its position in Marvell Technology Group by 88.3% during the 3rd quarter. TD Asset Management Inc. now owns 2,022,923 shares of the semiconductor company’s stock valued at $36,210,000 after buying an additional 948,804 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Marvell Technology Group by 9.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 9,581,295 shares of the semiconductor company’s stock valued at $172,175,000 after buying an additional 830,797 shares during the period. 89.44% of the stock is owned by institutional investors.
Marvell Technology Group Ltd. (NASDAQ MRVL) opened at $23.25 on Friday. The stock has a market cap of $11,530.00, a PE ratio of 40.79, a P/E/G ratio of 1.22 and a beta of 0.95. Marvell Technology Group Ltd. has a 12 month low of $14.58 and a 12 month high of $24.22.
Marvell Technology Group (NASDAQ:MRVL) last issued its quarterly earnings results on Tuesday, November 28th. The semiconductor company reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.01. The company had revenue of $616.00 million during the quarter, compared to analyst estimates of $613.49 million. Marvell Technology Group had a net margin of 16.53% and a return on equity of 11.93%. Marvell Technology Group’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same period last year, the business earned $0.20 EPS. equities analysts expect that Marvell Technology Group Ltd. will post 1.01 EPS for the current year.
Several equities research analysts have weighed in on the stock. BidaskClub raised shares of Marvell Technology Group from a “hold” rating to a “buy” rating in a research report on Friday. ValuEngine raised shares of Marvell Technology Group from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Piper Jaffray Companies assumed coverage on shares of Marvell Technology Group in a research report on Monday, December 18th. They set an “overweight” rating and a $25.00 price target for the company. Morgan Stanley increased their price target on shares of Marvell Technology Group from $20.50 to $22.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 13th. Finally, Oppenheimer reissued a “buy” rating and set a $30.00 price target on shares of Marvell Technology Group in a research report on Wednesday, November 29th. Seven research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $23.92.
In related news, insider Marvell Semiconductor, Inc. Ca sold 9,812 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $21.20, for a total value of $208,014.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael G. Strachan sold 20,000 shares of the stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $23.65, for a total transaction of $473,000.00. Following the completion of the transaction, the director now owns 19,702 shares of the company’s stock, valued at $465,952.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,324 shares of company stock valued at $717,091. 6.80% of the stock is owned by company insiders.
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Marvell Technology Group Company Profile
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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