Marvell Technology Group Ltd. (MRVL) Holdings Increased by WINTON GROUP Ltd

WINTON GROUP Ltd grew its holdings in shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) by 201.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,026 shares of the semiconductor company’s stock after buying an additional 24,728 shares during the period. WINTON GROUP Ltd’s holdings in Marvell Technology Group were worth $778,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Commonwealth Equity Services LLC increased its position in shares of Marvell Technology Group by 9.3% during the first quarter. Commonwealth Equity Services LLC now owns 32,691 shares of the semiconductor company’s stock worth $686,000 after purchasing an additional 2,783 shares in the last quarter. Xact Kapitalforvaltning AB increased its position in shares of Marvell Technology Group by 4.6% during the first quarter. Xact Kapitalforvaltning AB now owns 65,011 shares of the semiconductor company’s stock worth $1,365,000 after purchasing an additional 2,886 shares in the last quarter. Profund Advisors LLC increased its position in shares of Marvell Technology Group by 3.0% during the first quarter. Profund Advisors LLC now owns 102,539 shares of the semiconductor company’s stock worth $2,153,000 after purchasing an additional 2,973 shares in the last quarter. C M Bidwell & Associates Ltd. increased its position in shares of Marvell Technology Group by 24.3% during the first quarter. C M Bidwell & Associates Ltd. now owns 15,794 shares of the semiconductor company’s stock worth $332,000 after purchasing an additional 3,085 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its position in shares of Marvell Technology Group by 7.1% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 54,821 shares of the semiconductor company’s stock worth $1,177,000 after purchasing an additional 3,651 shares in the last quarter.

Shares of Marvell Technology Group opened at $21.44 on Monday, Marketbeat.com reports. The stock has a market capitalization of $10.75 billion, a P/E ratio of 20.62, a P/E/G ratio of 1.58 and a beta of 1.05. Marvell Technology Group Ltd. has a 52-week low of $14.87 and a 52-week high of $25.18.

Marvell Technology Group (NASDAQ:MRVL) last issued its quarterly earnings results on Thursday, May 31st. The semiconductor company reported $0.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.01. The firm had revenue of $604.63 million for the quarter, compared to analysts’ expectations of $601.85 million. Marvell Technology Group had a return on equity of 13.84% and a net margin of 22.24%. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.24 EPS. equities analysts expect that Marvell Technology Group Ltd. will post 1.2 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 31st. Shareholders of record on Monday, July 9th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend is Friday, July 6th. Marvell Technology Group’s payout ratio is 23.08%.

In other Marvell Technology Group news, CEO Matthew J. Murphy sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 4th. The stock was sold at an average price of $20.00, for a total transaction of $200,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Marvell Semiconductor, Inc. Ca sold 3,310 shares of the business’s stock in a transaction that occurred on Wednesday, April 18th. The stock was sold at an average price of $22.40, for a total value of $74,144.00. The disclosure for this sale can be found here. Insiders have sold a total of 35,065 shares of company stock worth $738,964 in the last quarter. 0.10% of the stock is currently owned by insiders.

A number of research firms have recently commented on MRVL. Argus reiterated a “buy” rating and set a $28.00 target price on shares of Marvell Technology Group in a research report on Friday. ValuEngine upgraded Marvell Technology Group from a “hold” rating to a “buy” rating in a research report on Thursday. Evercore ISI began coverage on Marvell Technology Group in a research report on Tuesday, June 26th. They set an “outperform” rating and a $27.00 target price on the stock. Deutsche Bank upgraded Marvell Technology Group from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research report on Tuesday, June 26th. Finally, BidaskClub cut Marvell Technology Group from a “hold” rating to a “sell” rating in a research report on Friday, June 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-three have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $25.67.

About Marvell Technology Group

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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