SG Americas Securities LLC increased its stake in Marvell Technology Group Ltd. (NASDAQ:MRVL) by 626.2% during the second quarter, Holdings Channel reports. The institutional investor owned 661,537 shares of the semiconductor company’s stock after buying an additional 787,249 shares during the period. SG Americas Securities LLC’s holdings in Marvell Technology Group were worth $10,929,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in the company. ProShare Advisors LLC increased its stake in Marvell Technology Group by 0.3% in the first quarter. ProShare Advisors LLC now owns 27,321 shares of the semiconductor company’s stock valued at $417,000 after buying an additional 75 shares in the last quarter. Prudential Financial Inc. increased its stake in Marvell Technology Group by 0.7% in the first quarter. Prudential Financial Inc. now owns 27,940 shares of the semiconductor company’s stock valued at $426,000 after buying an additional 200 shares in the last quarter. Greenwood Capital Associates LLC increased its stake in Marvell Technology Group by 2.8% in the first quarter. Greenwood Capital Associates LLC now owns 13,795 shares of the semiconductor company’s stock valued at $211,000 after buying an additional 380 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its stake 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 in the last quarter. Finally, World Asset Management Inc increased its stake in Marvell Technology Group by 1.5% in the first quarter. World Asset Management Inc now owns 33,066 shares of the semiconductor company’s stock valued at $505,000 after buying an additional 498 shares in the last quarter. 75.80% of the stock is currently owned by institutional investors.

Shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) opened at 15.82 on Wednesday. The company has a 50 day moving average of $16.04 and a 200-day moving average of $16.00. The stock has a market cap of $7.95 billion, a price-to-earnings ratio of 53.45 and a beta of 1.10. Marvell Technology Group Ltd. has a one year low of $11.38 and a one year high of $18.18.

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

The business also recently disclosed 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 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend was Friday, June 30th. Marvell Technology Group’s dividend payout ratio is presently 82.76%.

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Several analysts have weighed in on the stock. Zacks Investment Research raised shares of Marvell Technology Group from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research report on Friday, May 26th. B. Riley reissued a “buy” rating and set a $21.00 target price 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 for the company in a research note on Friday, May 26th. Cowen and Company restated an “outperform” rating and set a $21.00 price objective on shares of Marvell Technology Group in a research note on Wednesday, June 21st. Finally, BidaskClub cut shares of Marvell Technology Group from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $18.44.

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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