Bank Julius Baer & Co. Ltd Zurich grew its position in shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) by 58.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,250 shares of the semiconductor company’s stock after purchasing an additional 3,769 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Marvell Technology Group were worth $348,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. San Francisco Sentry Investment Group CA purchased a new stake in shares of Marvell Technology Group during the third quarter valued at approximately $25,000. Crewe Advisors LLC increased its stake in shares of Marvell Technology Group by 56.5% in the third quarter. Crewe Advisors LLC now owns 673 shares of the semiconductor company’s stock worth $27,000 after buying an additional 243 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in shares of Marvell Technology Group in the third quarter worth $27,000. Captrust Financial Advisors bought a new stake in shares of Marvell Technology Group in the second quarter worth $25,000. Finally, Asset Dedication LLC bought a new stake in shares of Marvell Technology Group in the third quarter worth $31,000. Institutional investors own 88.51% of the company’s stock.
Shares of NASDAQ MRVL opened at $43.96 on Friday. Marvell Technology Group Ltd. has a fifty-two week low of $16.45 and a fifty-two week high of $45.81. The firm’s 50-day simple moving average is $41.74 and its 200 day simple moving average is $36.44. The company has a quick ratio of 1.12, a current ratio of 1.33 and a debt-to-equity ratio of 0.12. The stock has a market cap of $29.46 billion, a P/E ratio of 21.03, a P/E/G ratio of 3.21 and a beta of 1.09.
Marvell Technology Group (NASDAQ:MRVL) last issued its quarterly earnings data on Thursday, August 27th. The semiconductor company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. Marvell Technology Group had a net margin of 50.67% and a return on equity of 3.10%. The business had revenue of $727.30 million for the quarter, compared to analysts’ expectations of $720.88 million. During the same period in the previous year, the business earned $0.16 earnings per share. The company’s revenue was up 10.8% on a year-over-year basis. On average, sell-side analysts anticipate that Marvell Technology Group Ltd. will post 0.57 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 28th. Investors of record on Monday, October 12th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend was Thursday, October 8th. Marvell Technology Group’s dividend payout ratio is currently 75.00%.
In other Marvell Technology Group news, CFO Jean X. Hu sold 19,706 shares of the business’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $42.77, for a total value of $842,825.62. Following the sale, the chief financial officer now directly owns 122,486 shares in the company, valued at $5,238,726.22. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael G. Strachan sold 5,000 shares of the business’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $39.06, for a total transaction of $195,300.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 69,002 shares of company stock worth $2,889,938. Company insiders own 0.29% of the company’s stock.
A number of analysts recently issued reports on the stock. BMO Capital Markets lifted their price target on shares of Marvell Technology Group from $32.00 to $42.00 and gave the stock a “market perform” rating in a research note on Friday, October 9th. They noted that the move was a valuation call. B. Riley reaffirmed a “buy” rating and issued a $48.00 price objective (up previously from $42.00) on shares of Marvell Technology Group in a report on Monday, October 5th. Cowen lifted their price objective on shares of Marvell Technology Group from $31.00 to $39.00 and gave the stock a “market perform” rating in a report on Friday, October 9th. Oppenheimer lifted their price objective on shares of Marvell Technology Group from $45.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, October 9th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Marvell Technology Group from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, October 9th. Five equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Marvell Technology Group presently has a consensus rating of “Buy” and a consensus price target of $45.58.
Marvell Technology Group Profile
Marvell Technology Group Ltd. designs, develops, and sells analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a portfolio of Ethernet solutions, including controllers, network adapters, physical transceivers, and switches; single or multiple core processors; custom application specific integrated circuits; and printer SoC products and application processors.
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