Moneta Group Investment Advisors LLC Reduces Stock Position in Marvell Technology Group Ltd. (NASDAQ:MRVL)

Moneta Group Investment Advisors LLC lessened its stake in shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) by 65.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,565 shares of the semiconductor company’s stock after selling 6,641 shares during the quarter. Moneta Group Investment Advisors LLC’s holdings in Marvell Technology Group were worth $272,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in MRVL. Dimensional Fund Advisors LP boosted its holdings in shares of Marvell Technology Group by 2.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,720,199 shares of the semiconductor company’s stock valued at $76,403,000 after acquiring an additional 128,943 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Marvell Technology Group by 6.4% in the fourth quarter. Geode Capital Management LLC now owns 5,974,001 shares of the semiconductor company’s stock worth $96,654,000 after buying an additional 360,969 shares during the last quarter. First Republic Investment Management Inc. purchased a new position in shares of Marvell Technology Group in the first quarter worth approximately $213,000. Nissay Asset Management Corp Japan ADV boosted its holdings in shares of Marvell Technology Group by 5.7% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 58,065 shares of the semiconductor company’s stock worth $1,155,000 after buying an additional 3,153 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. boosted its holdings in shares of Marvell Technology Group by 3.6% in 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 last quarter.

A number of research firms recently issued reports on MRVL. Zacks Investment Research downgraded shares of Marvell Technology Group from a “hold” rating to a “sell” rating and set a $29.00 price objective on the stock. in a report on Thursday, July 25th. BidaskClub downgraded shares of Marvell Technology Group from a “buy” rating to a “hold” rating in a report on Thursday, August 22nd. Craig Hallum raised shares of Marvell Technology Group from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a report on Friday, August 30th. Benchmark set a $30.00 price objective on shares of Marvell Technology Group and gave the stock a “buy” rating in a report on Friday, August 30th. Finally, ValuEngine downgraded shares of Marvell Technology Group from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-two have given a buy rating to the stock. Marvell Technology Group has an average rating of “Buy” and a consensus price target of $26.96.

NASDAQ MRVL traded up $0.01 on Thursday, reaching $26.00. 361,359 shares of the stock were exchanged, compared to its average volume of 11,019,948. Marvell Technology Group Ltd. has a one year low of $14.34 and a one year high of $27.64. The firm has a market capitalization of $16.71 billion, a PE ratio of 30.56, a PEG ratio of 11.72 and a beta of 1.19. The company’s 50-day simple moving average is $24.96 and its two-hundred day simple moving average is $23.32. The company has a current ratio of 3.06, a quick ratio of 2.68 and a debt-to-equity ratio of 0.23.

Marvell Technology Group (NASDAQ:MRVL) last released its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.11. The firm had revenue of $656.56 million for the quarter, compared to analysts’ expectations of $650.29 million. Marvell Technology Group had a negative net margin of 14.42% and a positive return on equity of 5.25%. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.28 earnings per share. Sell-side analysts forecast that Marvell Technology Group Ltd. will post 0.34 earnings per share for the current fiscal year.

In other news, CEO Matthew J. Murphy sold 265,000 shares of Marvell Technology Group stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $26.02, for a total transaction of $6,895,300.00. Following the sale, the chief executive officer now owns 1,755 shares in the company, valued at $45,665.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Andrew Micallef sold 40,000 shares of Marvell Technology Group stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $24.00, for a total transaction of $960,000.00. Following the sale, the chief operating officer now owns 85,048 shares in the company, valued at approximately $2,041,152. The disclosure for this sale can be found here. In the last quarter, insiders have sold 457,913 shares of company stock worth $11,611,251. Company insiders own 1.10% of the company’s stock.

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.

Further Reading: Hold Rating

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

Receive News & Ratings for Marvell Technology Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marvell Technology Group and related companies with MarketBeat.com's FREE daily email newsletter.