Traders sold shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) on strength during trading on Friday. $19.63 million flowed into the stock on the tick-up and $40.55 million flowed out of the stock on the tick-down, for a money net flow of $20.92 million out of the stock. Of all equities tracked, Marvell Technology Group had the 0th highest net out-flow for the day. Marvell Technology Group traded up $0.43 for the day and closed at $11.71

MRVL has been the subject of a number of research reports. Vetr raised Marvell Technology Group from a “buy” rating to a “strong-buy” rating and set a $11.43 price objective for the company in a research note on Monday, April 4th. Deutsche Bank AG reissued a “hold” rating and issued a $13.00 price objective (up previously from $10.00) on shares of Marvell Technology Group in a research note on Sunday, April 3rd. Credit Suisse Group AG reissued a “hold” rating and issued a $9.00 price objective on shares of Marvell Technology Group in a research note on Friday, April 1st. Zacks Investment Research raised Marvell Technology Group from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Friday, April 8th. Finally, Brean Capital raised Marvell Technology Group from a “hold” rating to a “buy” rating and set a $12.50 price objective for the company in a research note on Tuesday, April 5th. Three analysts have rated the stock with a sell rating, twenty have assigned a hold rating and seven have given a buy rating to the stock. Marvell Technology Group presently has an average rating of “Hold” and an average price target of $10.96.

The company’s market capitalization is $5.99 billion. The firm’s 50-day moving average is $10.03 and its 200 day moving average is $9.68.

Marvell Technology Group (NASDAQ:MRVL) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.02. During the same period in the prior year, the firm earned $0.25 earnings per share. On average, equities analysts anticipate that Marvell Technology Group Ltd. will post $0.41 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 12th. Investors of record on Tuesday, June 14th were given a $0.06 dividend. The ex-dividend date was Friday, June 10th. This represents a $0.24 annualized dividend and a yield of 2.05%.

A number of institutional investors have added to or reduced their stakes in MRVL. Boston Partners acquired a new position in Marvell Technology Group during the fourth quarter valued at about $1,596,000. BNP Paribas Arbitrage SA boosted its position in Marvell Technology Group by 45.8% in the fourth quarter. BNP Paribas Arbitrage SA now owns 227,355 shares of the company’s stock valued at $2,005,000 after buying an additional 71,420 shares during the period. Andra AP fonden boosted its position in Marvell Technology Group by 72.9% in the fourth quarter. Andra AP fonden now owns 266,600 shares of the company’s stock valued at $2,351,000 after buying an additional 112,400 shares during the period. Comerica Bank boosted its position in Marvell Technology Group by 3.3% in the fourth quarter. Comerica Bank now owns 320,118 shares of the company’s stock valued at $2,632,000 after buying an additional 10,086 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its position in Marvell Technology Group by 4,233.2% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 368,322 shares of the company’s stock valued at $3,247,000 after buying an additional 359,822 shares during the period.

Marvell Technology Group Ltd. (Marvell) is a fabless semiconductor provider of application-specific standard products. The Company develops System-on-a-Chip (SoC) devices. Its product portfolio includes devices for data storage, enterprise-class Ethernet data switching, Ethernet physical-layer transceivers (PHY), mobile handsets, connectivity, Internet-of-Things (IoT) devices and other consumer electronics.

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