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.
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.
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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.
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