Capital Analysts LLC raised its stake in Marvell Technology Group Ltd. (NASDAQ:MRVL) by 11.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,600 shares of the semiconductor company’s stock after acquiring an additional 1,350 shares during the period. Capital Analysts LLC’s holdings in Marvell Technology Group were worth $477,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Bartlett & Co. LLC bought a new stake in shares of Marvell Technology Group in the 2nd quarter worth about $35,000. NuWave Investment Management LLC bought a new stake in shares of Marvell Technology Group in the 2nd quarter worth about $51,000. Winslow Evans & Crocker Inc. increased its holdings in shares of Marvell Technology Group by 74,950.0% in the 2nd quarter. Winslow Evans & Crocker Inc. now owns 1,501 shares of the semiconductor company’s stock worth $53,000 after buying an additional 1,499 shares during the last quarter. Synovus Financial Corp increased its holdings in shares of Marvell Technology Group by 206.2% in the 1st quarter. Synovus Financial Corp now owns 2,679 shares of the semiconductor company’s stock worth $56,000 after buying an additional 1,804 shares during the last quarter. Finally, Sowell Financial Services LLC increased its holdings in shares of Marvell Technology Group by 103.7% in the 1st quarter. Sowell Financial Services LLC now owns 2,473 shares of the semiconductor company’s stock worth $56,000 after buying an additional 1,259 shares during the last quarter. Institutional investors own 91.91% of the company’s stock.
In related news, EVP Mitchell Gaynor sold 16,007 shares of the stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $35.13, for a total transaction of $562,325.91. Following the completion of the sale, the executive vice president now owns 54,701 shares of the company’s stock, valued at $1,921,646.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew J. Murphy sold 7,500 shares of the stock in a transaction that occurred on Wednesday, July 15th. The shares were sold at an average price of $36.72, for a total transaction of $275,400.00. The disclosure for this sale can be found here. Insiders have sold 87,734 shares of company stock valued at $3,070,335 in the last three months. 0.29% of the stock is currently owned by corporate insiders.
Shares of MRVL traded down $0.39 during mid-day trading on Thursday, hitting $32.72. The company’s stock had a trading volume of 148,264 shares, compared to its average volume of 7,069,988. The company’s 50-day moving average is $35.91 and its 200-day moving average is $28.88. Marvell Technology Group Ltd. has a 52-week low of $16.45 and a 52-week high of $39.40. The firm has a market capitalization of $22.21 billion, a price-to-earnings ratio of 104.31, a PEG ratio of 2.58 and a beta of 1.07. The company has a current ratio of 2.14, a quick ratio of 1.75 and a debt-to-equity ratio of 0.17.
Marvell Technology Group (NASDAQ:MRVL) last announced its quarterly earnings results on Thursday, May 28th. The semiconductor company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.04. Marvell Technology Group had a net margin of 55.66% and a return on equity of 2.82%. The firm had revenue of $694.00 million during the quarter, compared to analysts’ expectations of $680.19 million. During the same quarter in the prior year, the company earned $0.16 EPS. The company’s revenue was up 4.8% compared to the same quarter last year. As a group, sell-side analysts predict that Marvell Technology Group Ltd. will post 0.57 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 29th. Stockholders of record on Monday, July 13th were given a $0.06 dividend. The ex-dividend date of this dividend was Friday, July 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.73%. Marvell Technology Group’s payout ratio is presently 75.00%.
A number of analysts have recently weighed in on MRVL shares. ValuEngine downgraded shares of Marvell Technology Group from a “buy” rating to a “hold” rating in a report on Friday, May 1st. Rosenblatt Securities restated a “buy” rating and issued a $42.00 target price (up from $32.00) on shares of Marvell Technology Group in a report on Tuesday, May 26th. B. Riley upped their price target on shares of Marvell Technology Group from $34.00 to $38.00 and gave the company a “buy” rating in a report on Friday, May 29th. Bank of America upped their price target on shares of Marvell Technology Group from $45.00 to $50.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Finally, Zacks Investment Research upgraded shares of Marvell Technology Group from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a report on Monday, June 29th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty have given a buy rating to the stock. Marvell Technology Group has an average rating of “Buy” and an average price target of $35.09.
Marvell Technology Group Company 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.
See Also: Sell-Side Analysts
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