CIBC World Markets Inc. reduced its stake in shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) by 41.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 16,928 shares of the semiconductor company’s stock after selling 12,000 shares during the period. CIBC World Markets Inc.’s holdings in Marvell Technology Group were worth $363,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of MRVL. Numeric Investors LLC bought a new stake in shares of Marvell Technology Group during the 2nd quarter worth $354,000. Stifel Financial Corp lifted its holdings in shares of Marvell Technology Group by 22.6% during the 2nd quarter. Stifel Financial Corp now owns 20,648 shares of the semiconductor company’s stock worth $343,000 after acquiring an additional 3,811 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of Marvell Technology Group by 40.1% during the 2nd quarter. Royal Bank of Canada now owns 143,179 shares of the semiconductor company’s stock worth $2,366,000 after acquiring an additional 40,971 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Marvell Technology Group by 1,243.4% during the 2nd quarter. Janus Henderson Group PLC now owns 840,174 shares of the semiconductor company’s stock worth $13,879,000 after acquiring an additional 777,635 shares during the last quarter. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Marvell Technology Group during the 2nd quarter worth $291,000. 78.92% of the stock is owned by institutional investors.

In other Marvell Technology Group news, Director Michael G. Strachan sold 20,000 shares of the business’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $23.65, for a total value of $473,000.00. Following the transaction, the director now owns 19,702 shares in the company, valued at $465,952.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Marvell Semiconductor, Inc. Ca sold 1,512 shares of the business’s stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $23.86, for a total transaction of $36,076.32. The disclosure for this sale can be found here. Insiders sold 31,324 shares of company stock worth $717,091 in the last 90 days. Corporate insiders own 6.80% of the company’s stock.

A number of research firms have recently issued reports on MRVL. Cowen reaffirmed an “outperform” rating and set a $29.00 price objective (up from $21.00) on shares of Marvell Technology Group in a report on Monday, November 27th. BMO Capital Markets lifted their price objective on shares of Marvell Technology Group to $25.00 and gave the stock a “market perform” rating in a report on Monday, November 27th. Credit Suisse Group reissued an “outperform” rating and issued a $30.00 price target (up from $22.00) on shares of Marvell Technology Group in a research note on Tuesday, November 28th. Oppenheimer boosted their price target on shares of Marvell Technology Group from $23.00 to $30.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 21st. Finally, Stifel Nicolaus boosted their price target on shares of Marvell Technology Group from $16.00 to $19.00 and gave the stock a “hold” rating in a research note on Wednesday, November 29th. Eight analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Marvell Technology Group currently has an average rating of “Buy” and a consensus price target of $23.92.

Marvell Technology Group Ltd. (MRVL) opened at $21.30 on Friday. Marvell Technology Group Ltd. has a 52-week low of $14.58 and a 52-week high of $24.22. The stock has a market cap of $10,460.00, a PE ratio of 37.37, a price-to-earnings-growth ratio of 1.12 and a beta of 0.95.

Marvell Technology Group (NASDAQ:MRVL) last released its quarterly earnings data on Tuesday, November 28th. The semiconductor company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.01. Marvell Technology Group had a net margin of 16.53% and a return on equity of 11.93%. The firm had revenue of $616.00 million for the quarter, compared to analysts’ expectations of $613.49 million. During the same quarter in the previous year, the company earned $0.20 earnings per share. The company’s revenue for the quarter was down 5.8% compared to the same quarter last year. analysts forecast that Marvell Technology Group Ltd. will post 1.01 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Wednesday, December 27th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend was Tuesday, December 26th. Marvell Technology Group’s payout ratio is 42.11%.

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Marvell Technology Group 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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