First Trust Advisors LP raised its holdings in Marvell Technology Group Ltd. (NASDAQ:MRVL) by 16.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 172,620 shares of the semiconductor company’s stock after purchasing an additional 24,930 shares during the period. First Trust Advisors LP’s holdings in Marvell Technology Group were worth $3,090,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of MRVL. Bank of Montreal Can boosted its holdings in Marvell Technology Group by 593.9% in the 2nd quarter. Bank of Montreal Can now owns 493,150 shares of the semiconductor company’s stock valued at $8,147,000 after purchasing an additional 422,078 shares during the period. NN Investment Partners Holdings N.V. boosted its holdings in Marvell Technology Group by 764.7% in the 2nd quarter. NN Investment Partners Holdings N.V. now owns 20,598 shares of the semiconductor company’s stock valued at $340,000 after purchasing an additional 18,216 shares during the period. Creative Planning boosted its holdings in Marvell Technology Group by 39.8% in the 2nd quarter. Creative Planning now owns 10,008 shares of the semiconductor company’s stock valued at $165,000 after purchasing an additional 2,850 shares during the period. Mn Services Vermogensbeheer B.V. boosted its holdings in Marvell Technology Group by 468.3% in the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 65,966 shares of the semiconductor company’s stock valued at $1,090,000 after purchasing an additional 54,359 shares during the period. Finally, Quantitative Systematic Strategies LLC boosted its holdings in Marvell Technology Group by 4.1% in the 2nd quarter. Quantitative Systematic Strategies LLC now owns 17,107 shares of the semiconductor company’s stock valued at $288,000 after purchasing an additional 673 shares during the period. 77.03% of the stock is owned by hedge funds and other institutional investors.

Marvell Technology Group Ltd. (NASDAQ MRVL) opened at $23.28 on Wednesday. Marvell Technology Group Ltd. has a 1-year low of $13.59 and a 1-year high of $23.41. The firm has a market cap of $10,704.32, a price-to-earnings ratio of 27.68, a price-to-earnings-growth ratio of 1.48 and a beta of 1.05.

Marvell Technology Group (NASDAQ:MRVL) last released its quarterly earnings data on Thursday, August 24th. The semiconductor company reported $0.25 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.03). Marvell Technology Group had a return on equity of 9.99% and a net margin of 10.97%. The business had revenue of $604.75 million for the quarter, compared to analyst estimates of $600.76 million. During the same quarter in the previous year, the company posted $0.18 EPS. The business’s quarterly revenue was up 16.4% on a year-over-year basis. equities research analysts forecast that Marvell Technology Group Ltd. will post 0.97 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 26th. Shareholders of record on Tuesday, October 10th were issued a dividend of $0.06 per share. The ex-dividend date was Friday, October 6th. This represents a $0.24 annualized dividend and a yield of 1.03%. Marvell Technology Group’s payout ratio is 47.06%.

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In other Marvell Technology Group news, major shareholder Sehat Sutardja sold 537,235 shares of the company’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $17.57, for a total transaction of $9,439,218.95. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have sold 17,558,035 shares of company stock worth $320,838,284. Corporate insiders own 6.80% of the company’s stock.

MRVL has been the subject of a number of recent research reports. Bank of America Corporation raised shares of Marvell Technology Group from a “neutral” rating to a “buy” rating in a report on Monday. BidaskClub cut shares of Marvell Technology Group from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. Jefferies Group LLC restated a “hold” rating and issued a $18.50 target price (down from $19.00) on shares of Marvell Technology Group in a research report on Thursday, August 24th. Oppenheimer Holdings, Inc. restated a “buy” rating and issued a $23.00 target price on shares of Marvell Technology Group in a research report on Monday, November 6th. Finally, Needham & Company LLC restated a “buy” rating and issued a $21.00 target price on shares of Marvell Technology Group in a research report on Thursday, August 24th. One analyst has rated the stock with a sell rating, six have given a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $22.10.

Marvell Technology Group Company Profile

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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