Advisory Services Network LLC Has $31,000 Position in Marvell Technology Group Ltd. (NASDAQ:MRVL)

Advisory Services Network LLC trimmed its holdings in Marvell Technology Group Ltd. (NASDAQ:MRVL) by 34.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,917 shares of the semiconductor company’s stock after selling 1,025 shares during the period. Advisory Services Network LLC’s holdings in Marvell Technology Group were worth $31,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Loeb Partners Corp bought a new position in shares of Marvell Technology Group during the fourth quarter worth approximately $44,000. AlphaOne Investment Services LLC boosted its holdings in shares of Marvell Technology Group by 339.4% during the 4th quarter. AlphaOne Investment Services LLC now owns 3,344 shares of the semiconductor company’s stock valued at $54,000 after acquiring an additional 2,583 shares in the last quarter. Sterling Investment Advisors Ltd. boosted its holdings in shares of Marvell Technology Group by 100.0% during the 4th quarter. Sterling Investment Advisors Ltd. now owns 6,000 shares of the semiconductor company’s stock valued at $97,000 after acquiring an additional 3,000 shares in the last quarter. Penserra Capital Management LLC boosted its holdings in shares of Marvell Technology Group by 580.7% during the 4th quarter. Penserra Capital Management LLC now owns 6,126 shares of the semiconductor company’s stock valued at $98,000 after acquiring an additional 5,226 shares in the last quarter. Finally, FUKOKU MUTUAL LIFE INSURANCE Co lifted its holdings in Marvell Technology Group by 71.8% during the 4th quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 6,700 shares of the semiconductor company’s stock worth $108,000 after buying an additional 2,800 shares during the period. 97.10% of the stock is owned by institutional investors.

Several brokerages have commented on MRVL. BidaskClub raised Marvell Technology Group from a “hold” rating to a “buy” rating in a report on Wednesday, April 10th. Bank of America lifted their target price on Marvell Technology Group from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Piper Jaffray Companies lifted their target price on Marvell Technology Group from $22.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday. UBS Group lifted their target price on Marvell Technology Group from $22.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Finally, Zacks Investment Research raised Marvell Technology Group from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Wednesday, February 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $25.33.

Shares of MRVL stock traded down $0.02 during trading hours on Friday, hitting $24.69. 8,488,140 shares of the company’s stock traded hands, compared to its average volume of 12,784,232. Marvell Technology Group Ltd. has a 12-month low of $14.34 and a 12-month high of $25.74. The firm has a market capitalization of $16.27 billion, a price-to-earnings ratio of 29.05, a PEG ratio of 4.53 and a beta of 1.11. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.76 and a current ratio of 2.19.

Marvell Technology Group (NASDAQ:MRVL) last announced its quarterly earnings results on Thursday, March 7th. The semiconductor company reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.02). The firm had revenue of $744.80 million for the quarter, compared to the consensus estimate of $739.88 million. Marvell Technology Group had a negative net margin of 6.25% and a positive return on equity of 7.95%. During the same period last year, the business earned $0.32 EPS. As a group, sell-side analysts forecast that Marvell Technology Group Ltd. will post 0.63 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Investors of record on Wednesday, April 3rd were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.97%. The ex-dividend date was Tuesday, April 2nd. Marvell Technology Group’s dividend payout ratio (DPR) is currently 28.24%.

In related news, EVP Mitchell Gaynor sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $23.64, for a total transaction of $236,400.00. Following the completion of the sale, the executive vice president now owns 25,576 shares of the company’s stock, valued at $604,616.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.10% of the stock is owned by company insiders.

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About Marvell Technology Group

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.

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Institutional Ownership by Quarter for Marvell Technology Group (NASDAQ:MRVL)

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