Marvell Technology Group Ltd. (MRVL) Stake Lifted by FNY Partners Fund LP

FNY Partners Fund LP lifted its holdings in Marvell Technology Group Ltd. (NASDAQ:MRVL) by 151.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,500 shares of the semiconductor company’s stock after acquiring an additional 31,000 shares during the quarter. FNY Partners Fund LP’s holdings in Marvell Technology Group were worth $921,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Marvell Technology Group by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 32,190,297 shares of the semiconductor company’s stock worth $531,785,000 after acquiring an additional 290,339 shares in the last quarter. Boston Partners boosted its holdings in shares of Marvell Technology Group by 51.4% in the 3rd quarter. Boston Partners now owns 12,205,587 shares of the semiconductor company’s stock worth $218,480,000 after acquiring an additional 4,143,929 shares in the last quarter. Contour Asset Management LLC boosted its holdings in shares of Marvell Technology Group by 11.5% in the 2nd quarter. Contour Asset Management LLC now owns 9,192,978 shares of the semiconductor company’s stock worth $151,868,000 after acquiring an additional 944,622 shares in the last quarter. UBS Asset Management Americas Inc. boosted its holdings in shares of Marvell Technology Group by 2.3% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 8,901,332 shares of the semiconductor company’s stock worth $147,050,000 after acquiring an additional 195,985 shares in the last quarter. Finally, Wedge Capital Management L L P NC boosted its holdings in shares of Marvell Technology Group by 6.0% in the 2nd quarter. Wedge Capital Management L L P NC now owns 7,103,219 shares of the semiconductor company’s stock worth $117,345,000 after acquiring an additional 400,723 shares in the last quarter. 77.03% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have recently commented on MRVL shares. Credit Suisse Group reissued a “buy” rating on shares of Marvell Technology Group in a report on Wednesday, August 23rd. B. Riley reaffirmed a “buy” rating and set a $23.00 price objective on shares of Marvell Technology Group in a report on Monday, August 21st. Cowen Inc reaffirmed a “buy” rating and set a $21.00 price objective on shares of Marvell Technology Group in a report on Monday, August 21st. Loop Capital reaffirmed a “buy” rating and set a $22.00 price objective on shares of Marvell Technology Group in a report on Friday, August 25th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and set a $23.00 price objective on shares of Marvell Technology Group in a report on Friday, August 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. Marvell Technology Group presently has a consensus rating of “Buy” and an average target price of $21.59.

Shares of Marvell Technology Group Ltd. (NASDAQ MRVL) opened at $23.80 on Monday. Marvell Technology Group Ltd. has a 1 year low of $13.59 and a 1 year high of $24.22. The company has a market cap of $11,689.16, a price-to-earnings ratio of 30.51, a P/E/G ratio of 1.68 and a beta of 1.05.

Marvell Technology Group (NASDAQ:MRVL) last released its quarterly earnings data on Thursday, August 24th. The semiconductor company reported $0.25 EPS for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.03). Marvell Technology Group had a net margin of 10.97% and a return on equity of 9.99%. The firm had revenue of $604.75 million during the quarter, compared to the consensus estimate of $600.76 million. During the same quarter in the prior year, the company earned $0.18 EPS. Marvell Technology Group’s quarterly revenue was up 16.4% on a year-over-year basis. equities analysts forecast that Marvell Technology Group Ltd. will post 0.97 earnings per share for the current year.

In related news, major shareholder Sehat Sutardja sold 2,727,810 shares of the company’s stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $18.49, for a total value of $50,437,206.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders sold 17,558,035 shares of company stock valued at $320,838,284. 6.80% of the stock is owned by corporate insiders.

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Marvell Technology Group Company 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.

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

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