Nippon Life Global Investors Americas Inc. Buys New Position in Marvell Technology Group (MRVL)

Nippon Life Global Investors Americas Inc. bought a new stake in shares of Marvell Technology Group (NASDAQ:MRVL) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 151,830 shares of the semiconductor company’s stock, valued at approximately $3,188,000.

Several other institutional investors and hedge funds also recently made changes to their positions in MRVL. Advisor Group Inc. lifted its position in Marvell Technology Group by 516.2% during the 4th quarter. Advisor Group Inc. now owns 4,800 shares of the semiconductor company’s stock valued at $103,000 after acquiring an additional 4,021 shares during the period. Delpha Capital Management LLC purchased a new position in Marvell Technology Group during the 4th quarter valued at about $112,000. Tower Research Capital LLC TRC lifted its position in 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 valued at $118,000 after acquiring an additional 3,704 shares during the period. Envestnet Asset Management Inc. lifted its position in Marvell Technology Group by 182.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 7,322 shares of the semiconductor company’s stock valued at $157,000 after acquiring an additional 4,734 shares during the period. Finally, American International Group Inc. purchased a new position in Marvell Technology Group during the 4th quarter valued at about $181,000.

In other news, CEO Matthew J. Murphy sold 10,000 shares of Marvell Technology Group stock in a transaction that occurred on Friday, May 4th. The shares were sold at an average price of $20.70, for a total value of $207,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Marvell Semiconductor, Inc. Ca sold 3,310 shares of Marvell Technology Group stock in a transaction that occurred on Wednesday, April 18th. The stock was sold at an average price of $22.40, for a total transaction of $74,144.00. The disclosure for this sale can be found here. Insiders sold 53,310 shares of company stock valued at $1,208,344 over the last quarter. Company insiders own 0.10% of the company’s stock.

A number of research analysts recently issued reports on MRVL shares. ValuEngine raised shares of Marvell Technology Group from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. BidaskClub raised shares of Marvell Technology Group from a “hold” rating to a “buy” rating in a research report on Friday, February 23rd. Zacks Investment Research cut shares of Marvell Technology Group from a “hold” rating to a “sell” rating in a research report on Wednesday, March 7th. Argus started coverage on shares of Marvell Technology Group in a research report on Wednesday, March 7th. They set a “buy” rating and a $28.00 price target for the company. Finally, Stifel Nicolaus lifted their price target on shares of Marvell Technology Group from $19.00 to $21.00 and gave the company a “hold” rating in a research report on Friday, March 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $25.59.

Shares of Marvell Technology Group stock opened at $21.92 on Wednesday. The stock has a market capitalization of $10.71 billion, a price-to-earnings ratio of 21.08, a PEG ratio of 1.65 and a beta of 0.98. Marvell Technology Group has a 52-week low of $14.87 and a 52-week high of $25.18.

Marvell Technology Group (NASDAQ:MRVL) last issued its earnings results on Thursday, March 8th. The semiconductor company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.01. The business had revenue of $615.40 million during the quarter, compared to analysts’ expectations of $610.99 million. Marvell Technology Group had a net margin of 21.56% and a return on equity of 13.13%. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.22 earnings per share. sell-side analysts predict that Marvell Technology Group will post 1.16 EPS for the current fiscal year.

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, including 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 comprising 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 enterprises, data centers, and cloud computing businesses.

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

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