Lido Advisors LLC Takes $322,000 Position in Marvell Technology Group (NASDAQ:MRVL)

Lido Advisors LLC acquired a new position in shares of Marvell Technology Group (NASDAQ:MRVL) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 15,000 shares of the semiconductor company’s stock, valued at approximately $322,000.

A number of other large investors have also recently bought and sold shares of MRVL. Financial Advocates Investment Management acquired a new position in shares of Marvell Technology Group during the 4th quarter worth approximately $1,789,000. LPL Financial LLC boosted its holdings in shares of Marvell Technology Group by 27.4% during the 4th quarter. LPL Financial LLC now owns 19,566 shares of the semiconductor company’s stock worth $422,000 after purchasing an additional 4,212 shares during the last quarter. Weitz Investment Management Inc. acquired a new position in shares of Marvell Technology Group during the 4th quarter worth approximately $1,288,000. TIAA CREF Investment Management LLC boosted its holdings in shares of Marvell Technology Group by 60.3% during the 4th quarter. TIAA CREF Investment Management LLC now owns 2,493,165 shares of the semiconductor company’s stock worth $53,528,000 after purchasing an additional 937,925 shares during the last quarter. Finally, Teachers Advisors LLC boosted its holdings in shares of Marvell Technology Group by 4.8% during the 4th quarter. Teachers Advisors LLC now owns 618,384 shares of the semiconductor company’s stock worth $13,277,000 after purchasing an additional 28,338 shares during the last quarter. Institutional investors own 91.67% of the company’s stock.

How to Become a New Pot Stock Millionaire

Several research analysts have recently weighed in on the company. TheStreet cut Marvell Technology Group from a “b” rating to a “c+” rating in a report on Thursday, March 8th. Cowen boosted their target price on Marvell Technology Group from $21.00 to $29.00 and gave the stock an “outperform” rating in a report on Friday, March 9th. Stifel Nicolaus boosted their target price on Marvell Technology Group from $19.00 to $21.00 and gave the stock a “hold” rating in a report on Friday, March 9th. Morgan Stanley restated an “equal weight” rating and set a $23.00 target price (up from $22.00) on shares of Marvell Technology Group in a report on Friday, March 9th. Finally, B. Riley reiterated a “buy” rating and issued a $30.00 price objective (up from $29.00) on shares of Marvell Technology Group in a report on Friday, March 9th. Seven equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Marvell Technology Group has an average rating of “Buy” and a consensus target price of $25.52.

NASDAQ:MRVL traded down $0.62 during trading hours on Friday, reaching $20.51. 8,925,069 shares of the stock were exchanged, compared to its average volume of 10,016,107. Marvell Technology Group has a twelve month low of $14.58 and a twelve month high of $25.18. The stock has a market capitalization of $10,491.04, a price-to-earnings ratio of 19.72, a price-to-earnings-growth ratio of 1.62 and a beta of 0.97.

Marvell Technology Group (NASDAQ:MRVL) last posted its quarterly earnings data on Thursday, March 8th. The semiconductor company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. Marvell Technology Group had a return on equity of 13.13% and a net margin of 21.56%. The business had revenue of $615.40 million for the quarter, compared to analyst estimates of $610.99 million. During the same quarter in the prior year, the company earned $0.22 earnings per share. The company’s revenue was up 8.7% on a year-over-year basis. equities analysts predict that Marvell Technology Group will post 1.16 earnings per share for the current fiscal 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 given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend is Wednesday, March 28th. Marvell Technology Group’s dividend payout ratio is currently 23.08%.

In other news, Director Michael G. Strachan sold 20,000 shares of the company’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $23.65, for a total transaction of $473,000.00. Following the sale, the director now owns 19,702 shares of the company’s stock, valued at $465,952.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Matthew J. Murphy sold 30,000 shares of the stock in a transaction on Monday, March 12th. The shares were sold at an average price of $24.24, for a total value of $727,200.00. The disclosure for this sale can be found here. Insiders have sold 61,512 shares of company stock worth $1,436,276 in the last ninety days. Corporate insiders own 6.80% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This story was first reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this story on another publication, it was illegally stolen and reposted in violation of US & international copyright legislation. The correct version of this story can be read at https://www.dispatchtribunal.com/2018/04/08/lido-advisors-llc-buys-shares-of-15000-marvell-technology-group-ltd-mrvl.html.

Marvell Technology Group 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.

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

Receive News & Ratings for Marvell Technology Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marvell Technology Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply