WINTON GROUP Ltd reduced its position in Marvell Technology Group (NASDAQ:MRVL) by 17.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 12,298 shares of the semiconductor company’s stock after selling 2,558 shares during the quarter. WINTON GROUP Ltd’s holdings in Marvell Technology Group were worth $264,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Tower Research Capital LLC TRC grew its stake in shares of Marvell Technology Group by 208.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,482 shares of the semiconductor company’s stock worth $118,000 after purchasing an additional 3,704 shares during the period. Massey Quick Simon & CO. LLC acquired a new position in shares of Marvell Technology Group during the 3rd quarter worth $124,000. American International Group Inc. acquired a new position in shares of Marvell Technology Group during the 4th quarter worth $181,000. Dorsey & Whitney Trust CO LLC acquired a new position in shares of Marvell Technology Group during the 4th quarter worth $205,000. Finally, First Personal Financial Services acquired a new position in shares of Marvell Technology Group during the 4th quarter worth $212,000. 91.67% of the stock is currently owned by institutional investors.
MRVL has been the topic of a number of recent analyst reports. Cowen upped their price target on shares of Marvell Technology Group from $21.00 to $29.00 and gave the stock an “outperform” rating in a research note on Friday, March 9th. ValuEngine raised shares of Marvell Technology Group from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. BidaskClub raised shares of Marvell Technology Group from a “hold” rating to a “buy” rating in a research note on Friday, February 23rd. Zacks Investment Research raised shares of Marvell Technology Group from a “sell” rating to a “hold” rating in a research note on Tuesday, March 13th. Finally, B. Riley reaffirmed a “buy” rating and set a $30.00 price target (up from $29.00) on shares of Marvell Technology Group in a research note on Friday, March 9th. Seven research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $25.52.
In other news, CEO Matthew J. Murphy sold 30,000 shares of the stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $24.24, for a total transaction of $727,200.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Marvell Semiconductor, Inc. Ca sold 1,512 shares of the stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $23.86, for a total transaction of $36,076.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,512 shares of company stock worth $1,436,276. Insiders own 6.80% of the company’s stock.
NASDAQ:MRVL opened at $20.51 on Friday. The stock has a market capitalization of $10,327.20, a price-to-earnings ratio of 19.72, a PEG ratio of 1.60 and a beta of 0.97. Marvell Technology Group has a 12-month low of $14.58 and a 12-month high of $25.18.
Marvell Technology Group (NASDAQ:MRVL) last released its earnings results on Thursday, March 8th. The semiconductor company reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.01. The company had revenue of $615.40 million for the quarter, compared to analyst estimates of $610.99 million. Marvell Technology Group had a net margin of 21.56% and a return on equity of 13.13%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.22 EPS. equities research analysts predict that Marvell Technology Group will post 1.16 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 18th. Stockholders of record on Thursday, March 29th will be issued a dividend of $0.06 per share. The ex-dividend date is Wednesday, March 28th. This represents a $0.24 annualized dividend and a dividend yield of 1.17%. Marvell Technology Group’s payout ratio is currently 23.08%.
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Marvell Technology Group Company Profile
Marvell Technology Group Ltd. designs, develops, and markets analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a range of storage products, such as hard disk drive (HDD) and solid-state drive controllers, as well as HDD components, such as HDD preamps components; and develops software enabled silicon solutions consisting of serial advanced technology attachment port multipliers, bridges, serial attached SCSI, and non-volatile memory express redundant array of independent disks controllers and converged storage processors for enterprise, data centers, and cloud computing businesses.
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