LS Investment Advisors LLC held its stake in shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) during the second quarter, Holdings Channel reports. The fund owned 7,653 shares of the semiconductor company’s stock at the end of the second quarter. LS Investment Advisors LLC’s holdings in Marvell Technology Group were worth $126,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Creative Planning boosted its stake in shares of Marvell Technology Group by 175.3% in the first quarter. Creative Planning now owns 7,158 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 4,558 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in Marvell Technology Group by 1,740.4% in the first quarter. Tower Research Capital LLC TRC now owns 7,969 shares of the semiconductor company’s stock valued at $122,000 after buying an additional 7,536 shares during the period. James Investment Research Inc. bought a new position in Marvell Technology Group during the first quarter valued at $138,000. United Capital Financial Advisers LLC bought a new position in Marvell Technology Group during the first quarter valued at $165,000. Finally, Mn Services Vermogensbeheer B.V. boosted its position in Marvell Technology Group by 4.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 11,607 shares of the semiconductor company’s stock valued at $166,000 after buying an additional 492 shares during the period. Hedge funds and other institutional investors own 74.62% of the company’s stock.

Shares of Marvell Technology Group Ltd. (MRVL) traded up 2.19% during mid-day trading on Friday, reaching $15.38. The company had a trading volume of 2,364,783 shares. The firm has a 50-day moving average price of $16.22 and a 200-day moving average price of $15.97. Marvell Technology Group Ltd. has a 1-year low of $11.30 and a 1-year high of $18.18. The stock has a market capitalization of $7.73 billion, a price-to-earnings ratio of 51.96 and a beta of 1.10.

Marvell Technology Group (NASDAQ:MRVL) last issued its quarterly earnings data on Thursday, May 25th. The semiconductor company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.04. The firm had revenue of $579.18 million during the quarter, compared to analysts’ expectations of $570.72 million. Marvell Technology Group had a return on equity of 7.96% and a net margin of 6.19%. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.01 EPS. Equities analysts expect that Marvell Technology Group Ltd. will post $1.10 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, July 21st. Investors of record on Wednesday, July 5th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.59%. The ex-dividend date was Friday, June 30th. Marvell Technology Group’s dividend payout ratio is currently 82.76%.

ILLEGAL ACTIVITY WARNING: This report was first reported by Watch List News and is the sole property of of Watch List News. If you are accessing this report on another site, it was stolen and reposted in violation of international copyright & trademark law. The original version of this report can be read at https://www.watchlistnews.com/marvell-technology-group-ltd-mrvl-position-maintained-by-ls-investment-advisors-llc/1475868.html.

Several research firms recently weighed in on MRVL. Zacks Investment Research upgraded shares of Marvell Technology Group from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research report on Friday, May 26th. B. Riley restated a “buy” rating and issued a $21.00 price objective on shares of Marvell Technology Group in a research report on Monday, May 1st. Citigroup Inc. upgraded shares of Marvell Technology Group to an “outperform” rating and set a $23.00 price objective on the stock in a research report on Friday, May 26th. Cowen and Company restated an “outperform” rating and issued a $21.00 price objective on shares of Marvell Technology Group in a research report on Wednesday, June 21st. Finally, BidaskClub cut shares of Marvell Technology Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $18.44.

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.

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).

Institutional Ownership by Quarter for Marvell Technology Group (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.