Canada Pension Plan Investment Board grew its stake in shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) by 24.5% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 2,856,565 shares of the semiconductor company’s stock after buying an additional 561,567 shares during the period. Canada Pension Plan Investment Board owned approximately 0.58% of Marvell Technology Group worth $51,133,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Greenwood Capital Associates LLC raised its position in shares of Marvell Technology Group by 37.0% during the second quarter. Greenwood Capital Associates LLC now owns 18,900 shares of the semiconductor company’s stock valued at $312,000 after buying an additional 5,105 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Marvell Technology Group by 9.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 547,334 shares of the semiconductor company’s stock worth $9,042,000 after buying an additional 47,648 shares during the last quarter. Jennison Associates LLC bought a new stake in shares of Marvell Technology Group during the second quarter valued at approximately $36,663,000. Seven Eight Capital LP grew its stake in shares of Marvell Technology Group by 41.3% during the second quarter. Seven Eight Capital LP now owns 228,974 shares of the semiconductor company’s stock valued at $3,783,000 after purchasing an additional 66,900 shares during the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in shares of Marvell Technology Group by 15.6% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 129,709 shares of the semiconductor company’s stock valued at $2,143,000 after purchasing an additional 17,485 shares during the last quarter. 76.66% of the stock is owned by institutional investors and hedge funds.

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MRVL has been the topic of several analyst reports. BidaskClub lowered shares of Marvell Technology Group from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 2nd. Jefferies Group LLC restated a “hold” rating and set a $18.50 price objective (down from $19.00) on shares of Marvell Technology Group in a report on Thursday, August 24th. Needham & Company LLC restated a “buy” rating and set a $21.00 price objective on shares of Marvell Technology Group in a report on Thursday, August 24th. BMO Capital Markets restated a “market perform” rating and set a $16.00 price objective on shares of Marvell Technology Group in a report on Monday, August 28th. Finally, Zacks Investment Research downgraded shares of Marvell Technology Group from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Marvell Technology Group presently has a consensus rating of “Buy” and a consensus target price of $19.34.

Shares of Marvell Technology Group Ltd. (NASDAQ MRVL) opened at $18.51 on Friday. The firm has a market capitalization of $9.06 billion, a PE ratio of 23.44, a PEG ratio of 1.25 and a beta of 1.05.

Marvell Technology Group (NASDAQ:MRVL) last announced its quarterly earnings results on Thursday, August 24th. The semiconductor company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.03). The firm had revenue of $604.75 million during the quarter, compared to analysts’ expectations of $600.76 million. Marvell Technology Group had a return on equity of 9.99% and a net margin of 10.97%. The company’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.18 earnings per share. sell-side analysts expect that Marvell Technology Group Ltd. will post 0.97 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, October 26th. Investors of record on Tuesday, October 10th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date was Friday, October 6th. Marvell Technology Group’s dividend payout ratio is currently 47.06%.

In other Marvell Technology Group news, major shareholder Sehat Sutardja sold 420,422 shares of Marvell Technology Group stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $17.84, for a total transaction of $7,500,328.48. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 17,558,035 shares of company stock worth $320,838,284 over the last ninety days. 6.80% of the stock is currently owned by insiders.

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.

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

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