Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Marvell Technology Group Ltd. (NASDAQ:MRVL) by 13.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,820 shares of the semiconductor company’s stock after acquiring an additional 11,375 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Marvell Technology Group were worth $2,609,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA boosted its holdings in Marvell Technology Group by 7.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,791,872 shares of the semiconductor company’s stock worth $119,652,000 after buying an additional 325,085 shares in the last quarter. Eagle Asset Management Inc. boosted its holdings in Marvell Technology Group by 3,572.7% during the third quarter. Eagle Asset Management Inc. now owns 1,850,605 shares of the semiconductor company’s stock worth $46,209,000 after buying an additional 1,800,217 shares in the last quarter. California Public Employees Retirement System boosted its holdings in Marvell Technology Group by 12.9% during the fourth quarter. California Public Employees Retirement System now owns 1,633,316 shares of the semiconductor company’s stock worth $43,381,000 after buying an additional 187,054 shares in the last quarter. Millennium Management LLC boosted its holdings in Marvell Technology Group by 276.3% during the third quarter. Millennium Management LLC now owns 1,573,314 shares of the semiconductor company’s stock worth $39,285,000 after buying an additional 1,155,172 shares in the last quarter. Finally, Carillon Tower Advisers Inc. bought a new stake in Marvell Technology Group during the third quarter worth approximately $37,059,000. Institutional investors and hedge funds own 95.93% of the company’s stock.
In other Marvell Technology Group news, CEO Matthew J. Murphy sold 15,000 shares of the stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $23.70, for a total value of $355,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Andrew Micallef sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $27.67, for a total transaction of $276,700.00. Following the completion of the sale, the chief operating officer now owns 99,805 shares of the company’s stock, valued at approximately $2,761,604.35. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.
Shares of NASDAQ:MRVL opened at $25.12 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.41 and a current ratio of 2.88. The company has a market cap of $16.92 billion, a PE ratio of 66.37, a price-to-earnings-growth ratio of 5.83 and a beta of 1.26. Marvell Technology Group Ltd. has a 52 week low of $18.08 and a 52 week high of $28.85. The firm has a 50 day simple moving average of $26.24 and a 200 day simple moving average of $25.41.
Marvell Technology Group (NASDAQ:MRVL) last released its earnings results on Tuesday, December 3rd. The semiconductor company reported $0.17 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.17. Marvell Technology Group had a negative net margin of 16.47% and a positive return on equity of 3.59%. The company had revenue of $662.00 million during the quarter, compared to the consensus estimate of $660.94 million. During the same quarter in the prior year, the firm earned $0.33 EPS. The company’s revenue was down 22.2% compared to the same quarter last year. On average, equities analysts predict that Marvell Technology Group Ltd. will post 0.28 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, December 26th were given a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, December 24th. This represents a $0.24 dividend on an annualized basis and a yield of 0.96%. Marvell Technology Group’s payout ratio is 28.24%.
A number of brokerages recently weighed in on MRVL. Wells Fargo & Co upgraded shares of Marvell Technology Group from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $25.00 to $32.00 in a report on Monday, November 4th. B. Riley began coverage on shares of Marvell Technology Group in a report on Wednesday, December 4th. They set a “buy” rating and a $32.00 target price for the company. Zacks Investment Research upgraded shares of Marvell Technology Group from a “sell” rating to a “hold” rating and set a $25.00 target price for the company in a report on Tuesday, February 4th. BidaskClub upgraded shares of Marvell Technology Group from a “sell” rating to a “hold” rating in a report on Tuesday, December 17th. Finally, Rosenblatt Securities restated a “buy” rating and set a $32.00 target price on shares of Marvell Technology Group in a report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $28.00.
Marvell Technology Group Profile
Marvell Technology Group Ltd. designs, develops, and markets analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a range of storage products, including hard disk drive (HDD) and solid-state drive controllers, as well as preamplifiers; supports a variety of host system interfaces consisting of serial attached SCSI (SAS), serial advanced technology attachment (SATA), peripheral component interconnect express, and non-volatile memory express; and develops software-enabled silicon solutions comprising SATA port multipliers, bridges, SATA, SAS, and non-volatile memory express redundant array of independent disks controllers and converged storage processors for enterprises, data centers, and cloud computing businesses.
Read More: Economic Reports
Receive News & Ratings for Marvell Technology Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marvell Technology Group and related companies with MarketBeat.com's FREE daily email newsletter.