Moneta Group Investment Advisors LLC increased its position in shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) by 110.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,450 shares of the semiconductor company’s stock after purchasing an additional 17,065 shares during the quarter. Moneta Group Investment Advisors LLC’s holdings in Marvell Technology Group were worth $681,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in MRVL. Advisor Group Inc. lifted its stake in Marvell Technology Group by 516.2% during the fourth quarter. Advisor Group Inc. now owns 4,800 shares of the semiconductor company’s stock worth $103,000 after purchasing an additional 4,021 shares during the last quarter. Delpha Capital Management LLC acquired a new stake in Marvell Technology Group in the fourth quarter worth $112,000. Tower Research Capital LLC TRC increased its position in Marvell Technology Group by 208.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,482 shares of the semiconductor company’s stock worth $118,000 after buying an additional 3,704 shares during the period. Envestnet Asset Management Inc. increased its position in Marvell Technology Group by 182.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 7,322 shares of the semiconductor company’s stock worth $157,000 after buying an additional 4,734 shares during the period. Finally, American International Group Inc. acquired a new stake in Marvell Technology Group in the fourth quarter worth $181,000.
Several brokerages have weighed in on MRVL. Zacks Investment Research lowered Marvell Technology Group from a “hold” rating to a “sell” rating in a research report on Tuesday, May 8th. BidaskClub lowered Marvell Technology Group from a “buy” rating to a “hold” rating in a research report on Tuesday, March 27th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $23.00 target price (up from $22.00) on shares of Marvell Technology Group in a research report on Friday, March 9th. B. Riley reaffirmed a “buy” rating and issued a $30.00 target price (up from $29.00) on shares of Marvell Technology Group in a research report on Friday, March 9th. Finally, Rosenblatt Securities began coverage on Marvell Technology Group in a research report on Tuesday, April 3rd. They issued a “buy” rating and a $27.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. Marvell Technology Group presently has a consensus rating of “Buy” and a consensus price target of $26.02.
In related news, CEO Matthew J. Murphy sold 10,000 shares of Marvell Technology Group stock in a transaction dated Monday, June 4th. The stock was sold at an average price of $22.00, for a total transaction of $220,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Matthew J. Murphy sold 30,000 shares of Marvell Technology Group stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $24.24, for a total value of $727,200.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 63,310 shares of company stock worth $1,428,344. 0.10% of the stock is owned by corporate insiders.
Shares of Marvell Technology Group opened at $22.11 on Thursday, according to MarketBeat. The firm has a market cap of $11.01 billion, a PE ratio of 21.26, a price-to-earnings-growth ratio of 1.62 and a beta of 1.00. Marvell Technology Group Ltd. has a one year low of $14.87 and a one year high of $25.18.
Marvell Technology Group (NASDAQ:MRVL) last released its earnings results on Thursday, May 31st. The semiconductor company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. The firm had revenue of $604.63 million for the quarter, compared to analyst estimates of $601.85 million. Marvell Technology Group had a return on equity of 14.03% and a net margin of 22.24%. Marvell Technology Group’s revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.24 earnings per share. sell-side analysts predict that Marvell Technology Group Ltd. will post 1.2 EPS for the current fiscal year.
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 HDD components, such as HDD preamps components; and develops software-enabled silicon solutions comprising serial advanced technology attachment port multipliers, bridges, serial attached SCSI, 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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