J. Goldman & Co LP bought a new position in Marvell Technology Group Ltd. (NASDAQ:MRVL) during the fourth quarter, HoldingsChannel.com reports. The firm bought 116,067 shares of the semiconductor company’s stock, valued at approximately $2,492,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. OLD Mutual Customised Solutions Proprietary Ltd. lifted its holdings in shares of Marvell Technology Group by 35.7% in the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 28,500 shares of the semiconductor company’s stock worth $612,000 after purchasing an additional 7,500 shares in the last quarter. Meitav Dash Investments Ltd. bought a new position in Marvell Technology Group during the 4th quarter valued at $19,511,000. Gotham Asset Management LLC lifted its stake in Marvell Technology Group by 30.4% during the 4th quarter. Gotham Asset Management LLC now owns 473,847 shares of the semiconductor company’s stock valued at $10,173,000 after acquiring an additional 110,504 shares in the last quarter. Glenmede Trust Co. NA lifted its stake in Marvell Technology Group by 44.0% during the 4th quarter. Glenmede Trust Co. NA now owns 134,067 shares of the semiconductor company’s stock valued at $2,877,000 after acquiring an additional 40,936 shares in the last quarter. Finally, Castleark Management LLC lifted its stake in Marvell Technology Group by 48.6% during the 4th quarter. Castleark Management LLC now owns 601,968 shares of the semiconductor company’s stock valued at $12,924,000 after acquiring an additional 196,960 shares in the last quarter. Institutional investors own 91.65% of the company’s stock.

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Shares of Marvell Technology Group stock opened at $22.85 on Thursday. Marvell Technology Group Ltd. has a 52 week low of $14.58 and a 52 week high of $25.18. The company has a market capitalization of $11,465.43, a price-to-earnings ratio of 22.33, a PEG ratio of 1.78 and a beta of 0.91.

Marvell Technology Group (NASDAQ:MRVL) last announced its quarterly earnings data on Thursday, March 8th. The semiconductor company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.01. Marvell Technology Group had a return on equity of 13.25% and a net margin of 21.56%. The company had revenue of $615.40 million during the quarter, compared to analyst estimates of $610.99 million. During the same quarter last year, the firm posted $0.22 EPS. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. equities analysts expect that Marvell Technology Group Ltd. will post 1.16 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 18th. Investors of record on Thursday, March 29th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Wednesday, March 28th. Marvell Technology Group’s dividend payout ratio (DPR) is currently 23.30%.

Several equities analysts have weighed in on MRVL shares. Cowen restated an “outperform” rating and set a $29.00 price objective (up from $21.00) on shares of Marvell Technology Group in a research note on Monday, November 27th. BMO Capital Markets raised their price objective on Marvell Technology Group to $25.00 and gave the company a “market perform” rating in a research note on Monday, November 27th. Credit Suisse Group restated an “outperform” rating and set a $30.00 price objective (up from $22.00) on shares of Marvell Technology Group in a research note on Tuesday, November 28th. Stifel Nicolaus raised their price objective on Marvell Technology Group from $16.00 to $19.00 and gave the company a “hold” rating in a research note on Wednesday, November 29th. Finally, Needham & Company LLC raised their price objective on Marvell Technology Group from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Wednesday, November 29th. Seven investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $25.02.

In other Marvell Technology Group news, CEO Matthew J. Murphy sold 30,000 shares of Marvell Technology Group stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $24.24, for a total transaction of $727,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Marvell Semiconductor, Inc. Ca sold 1,512 shares of Marvell Technology Group stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $23.86, for a total value of $36,076.32. The disclosure for this sale can be found here. In the last three months, insiders sold 51,512 shares of company stock valued at $1,236,276. 6.80% of the stock is currently owned by insiders.

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About Marvell Technology Group

Marvell Technology Group Ltd. is a 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) devices. It also develops integrated hardware platforms along with software that incorporates digital computing technologies designed and configured to provide an optimized computing solution.

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

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