Graham Capital Management L.P. increased its stake in shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) by 89.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 168,300 shares of the company’s stock after buying an additional 79,500 shares during the period. Graham Capital Management L.P.’s holdings in Marvell Technology Group were worth $2,334,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in MRVL. Sumitomo Mitsui Asset Management Company LTD increased its stake in shares of Marvell Technology Group by 5.2% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 27,788 shares of the company’s stock valued at $264,000 after buying an additional 1,386 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Marvell Technology Group by 59.8% in the second quarter. Nordea Investment Management AB now owns 297,026 shares of the company’s stock valued at $2,831,000 after buying an additional 111,100 shares in the last quarter. Airain ltd acquired a new stake in shares of Marvell Technology Group during the second quarter valued at $1,828,000. Neuberger Berman Group LLC increased its stake in shares of Marvell Technology Group by 912.8% in the second quarter. Neuberger Berman Group LLC now owns 111,088 shares of the company’s stock valued at $1,059,000 after buying an additional 100,120 shares in the last quarter. Finally, Cowen Prime Services LLC acquired a new stake in shares of Marvell Technology Group during the second quarter valued at $1,467,000. Hedge funds and other institutional investors own 73.41% of the company’s stock.

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

Marvell Technology Group Ltd. (NASDAQ:MRVL) traded down 0.13% on Thursday, reaching $15.79. 2,906,942 shares of the company’s stock traded hands. The firm has a market capitalization of $8.02 billion, a PE ratio of 76.65 and a beta of 1.11. Marvell Technology Group Ltd. has a 52-week low of $9.05 and a 52-week high of $15.89. The firm’s 50 day moving average price is $14.85 and its 200 day moving average price is $13.49.

Marvell Technology Group (NASDAQ:MRVL) last issued its earnings results on Thursday, November 17th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.08. Marvell Technology Group had a net margin of 4.33% and a return on equity of 3.28%. The business had revenue of $654 million for the quarter, compared to analyst estimates of $615.66 million. During the same period in the previous year, the business earned $0.05 EPS. The firm’s revenue was down 3.1% on a year-over-year basis. On average, analysts predict that Marvell Technology Group Ltd. will post $0.58 EPS for the current fiscal year.

This piece of content was originally reported by Watch List News and is the property of of Watch List News. If you are viewing this piece of content on another website, it was illegally copied and reposted in violation of US and international trademark and copyright laws. The original version of this piece of content can be viewed at http://www.watchlistnews.com/graham-capital-management-l-p-buys-79500-shares-of-marvell-technology-group-ltd-mrvl/1121087.html.

MRVL has been the subject of several recent analyst reports. Credit Suisse Group restated a “buy” rating and set a $17.50 target price on shares of Marvell Technology Group in a research note on Friday, November 18th. Brean Capital restated a “buy” rating and set a $16.00 target price (up from $15.00) on shares of Marvell Technology Group in a research note on Sunday, November 6th. B. Riley restated a “buy” rating and set a $18.00 target price on shares of Marvell Technology Group in a research note on Tuesday, November 15th. Zacks Investment Research upgraded Marvell Technology Group from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a research note on Monday, November 7th. Finally, Vetr downgraded Marvell Technology Group from a “strong-buy” rating to a “buy” rating and set a $15.50 target price for the company. in a research note on Monday, November 21st. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $14.63.

In other Marvell Technology Group news, major shareholder Sehat Sutardja sold 181,135 shares of the business’s stock in a transaction dated Wednesday, November 30th. The shares were sold at an average price of $14.48, for a total value of $2,622,834.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 20.60% of the stock is owned by insiders.

About Marvell Technology Group

Marvell Technology Group Ltd. is a fabless semiconductor provider of application-specific standard products. The Company is engaged in the design, development and sale of integrated circuits. The Company develops System-on-a-Chip (SoC) and System-in-a-Package (SiP) devices. Its product portfolio includes devices for data storage, enterprise-class Ethernet data switching, Ethernet physical-layer transceivers (PHY), wireless connectivity, Internet-of-Things (IoT) devices and multimedia solutions.

5 Day Chart for NASDAQ:MRVL

Want to see what other hedge funds are holding MRVL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marvell Technology Group Ltd. (NASDAQ:MRVL).

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