Oregon Public Employees Retirement Fund Has $2.52 Million Holdings in Marvell Technology Group Ltd. (MRVL)

Oregon Public Employees Retirement Fund boosted its stake in shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) by 16.2% during the 1st quarter, Holdings Channel reports. The fund owned 126,746 shares of the semiconductor company’s stock after purchasing an additional 17,646 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Marvell Technology Group were worth $2,521,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of MRVL. Penn Capital Management Co. Inc. lifted its holdings in Marvell Technology Group by 272.1% during the first quarter. Penn Capital Management Co. Inc. now owns 179,123 shares of the semiconductor company’s stock worth $3,563,000 after buying an additional 130,991 shares during the period. Frontier Capital Management Co. LLC lifted its holdings in Marvell Technology Group by 22.5% during the first quarter. Frontier Capital Management Co. LLC now owns 6,110,933 shares of the semiconductor company’s stock worth $121,546,000 after buying an additional 1,121,255 shares during the period. Raymond James & Associates lifted its holdings in Marvell Technology Group by 13.1% during the first quarter. Raymond James & Associates now owns 410,064 shares of the semiconductor company’s stock worth $8,156,000 after buying an additional 47,584 shares during the period. Toronto Dominion Bank lifted its holdings in Marvell Technology Group by 409.7% during the first quarter. Toronto Dominion Bank now owns 596,919 shares of the semiconductor company’s stock worth $11,872,000 after buying an additional 479,818 shares during the period. Finally, Mn Services Vermogensbeheer B.V. lifted its holdings in Marvell Technology Group by 3.6% during the first quarter. Mn Services Vermogensbeheer B.V. now owns 348,098 shares of the semiconductor company’s stock worth $6,924,000 after buying an additional 12,100 shares during the period.

Shares of MRVL stock opened at $22.12 on Friday. The firm has a market cap of $14.81 billion, a PE ratio of 26.02, a price-to-earnings-growth ratio of 5.11 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 Ltd. has a 12-month low of $14.34 and a 12-month high of $25.74.

Marvell Technology Group (NASDAQ:MRVL) last issued its quarterly earnings results on Thursday, March 7th. The semiconductor company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.02). The business had revenue of $744.80 million for the quarter, compared to analyst estimates of $739.88 million. Marvell Technology Group had a positive return on equity of 7.95% and a negative net margin of 6.25%. During the same period in the previous year, the company posted $0.32 earnings per share. On average, analysts predict that Marvell Technology Group Ltd. will post 0.63 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 24th. Investors of record on Wednesday, April 3rd were given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.08%. The ex-dividend date was Tuesday, April 2nd. Marvell Technology Group’s payout ratio is 28.24%.

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

A number of analysts have weighed in on the company. BidaskClub lowered Marvell Technology Group from a “buy” rating to a “hold” rating in a report on Monday. Zacks Investment Research upgraded Marvell Technology Group from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. Wells Fargo & Co assumed coverage on Marvell Technology Group in a report on Tuesday, May 14th. They set a “market perform” rating and a $24.00 target price for the company. Bank of America upped 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. Finally, Cowen restated an “outperform” rating and set a $22.00 target price (up previously from $21.00) on shares of Marvell Technology Group in a report on Monday, March 18th. Four equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $25.55.

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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.

Further Reading: How to Calculate Compound Annual Growth Rate (CAGR)

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

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