Creative Planning boosted its position in shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) by 39.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,008 shares of the semiconductor company’s stock after buying an additional 2,850 shares during the period. Creative Planning’s holdings in Marvell Technology Group were worth $165,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Marvell Technology Group by 2.9% in the first quarter. Vanguard Group Inc. now owns 31,899,958 shares of the semiconductor company’s stock worth $486,793,000 after buying an additional 887,640 shares during the period. BlackRock Inc. boosted its position in Marvell Technology Group by 4,078.2% in the first quarter. BlackRock Inc. now owns 24,309,056 shares of the semiconductor company’s stock worth $370,955,000 after buying an additional 23,727,243 shares during the period. State Street Corp boosted its position in Marvell Technology Group by 3.6% in the first quarter. State Street Corp now owns 9,846,772 shares of the semiconductor company’s stock worth $150,267,000 after buying an additional 341,686 shares during the period. UBS Asset Management Americas Inc. boosted its position in Marvell Technology Group by 71.0% in the first quarter. UBS Asset Management Americas Inc. now owns 8,705,347 shares of the semiconductor company’s stock worth $132,844,000 after buying an additional 3,613,160 shares during the period. Finally, Victory Capital Management Inc. boosted its position in Marvell Technology Group by 109.2% in the first quarter. Victory Capital Management Inc. now owns 4,014,790 shares of the semiconductor company’s stock worth $61,266,000 after buying an additional 2,095,294 shares during the period. Institutional investors own 74.62% of the company’s stock.

Marvell Technology Group Ltd. (NASDAQ MRVL) traded down 1.81% during trading on Thursday, hitting $15.22. 1,131,952 shares of the stock were exchanged. The firm has a market cap of $7.65 billion, a PE ratio of 51.42 and a beta of 1.10. Marvell Technology Group Ltd. has a 52 week low of $11.30 and a 52 week high of $18.18. The firm’s 50-day moving average is $16.29 and its 200 day moving average is $15.97.

Marvell Technology Group (NASDAQ:MRVL) last issued its quarterly earnings data on Thursday, May 25th. The semiconductor company reported $0.20 earnings per share (EPS) for the quarter, beating 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 net margin of 6.19% and a return on equity of 7.96%. The business’s revenue was up 11.5% on a year-over-year basis. During the same period last year, the company earned $0.01 earnings per share. Analysts expect that Marvell Technology Group Ltd. will post $1.10 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 21st. Stockholders of record on Wednesday, July 5th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date was Friday, June 30th. Marvell Technology Group’s dividend payout ratio is currently 82.76%.

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A number of research analysts have recently issued reports on MRVL shares. TheStreet upgraded shares of Marvell Technology Group from a “c” rating to a “b” rating in a research note on Thursday, May 25th. CIBC upgraded shares of Marvell Technology Group from a “market perform” rating to an “outperform” rating in a research report on Friday, May 26th. Citigroup Inc. upgraded shares of Marvell Technology Group to an “outperform” rating and set a $23.00 price objective for the company 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. Finally, Deutsche Bank AG boosted their price objective on shares of Marvell Technology Group from $16.00 to $18.00 and gave the stock a “hold” rating in a research report on Thursday, May 25th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average 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.

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

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