Canada Pension Plan Investment Board raised its position in shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) by 33.2% during the second quarter, Holdings Channel reports. The institutional investor owned 2,294,998 shares of the semiconductor company’s stock after buying an additional 571,800 shares during the period. Canada Pension Plan Investment Board’s holdings in Marvell Technology Group were worth $37,913,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. ProShare Advisors LLC boosted its stake in Marvell Technology Group by 0.3% in the first quarter. ProShare Advisors LLC now owns 27,321 shares of the semiconductor company’s stock worth $417,000 after buying an additional 75 shares in the last quarter. Prudential Financial Inc. boosted its stake in Marvell Technology Group by 0.7% in the first quarter. Prudential Financial Inc. now owns 27,940 shares of the semiconductor company’s stock worth $426,000 after buying an additional 200 shares in the last quarter. Greenwood Capital Associates LLC boosted its stake in Marvell Technology Group by 2.8% in the first quarter. Greenwood Capital Associates LLC now owns 13,795 shares of the semiconductor company’s stock worth $211,000 after buying an additional 380 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its stake in Marvell Technology Group by 4.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 11,607 shares of the semiconductor company’s stock worth $166,000 after buying an additional 492 shares in the last quarter. Finally, World Asset Management Inc boosted its stake in Marvell Technology Group by 1.5% in the first quarter. World Asset Management Inc now owns 33,066 shares of the semiconductor company’s stock worth $505,000 after buying an additional 498 shares in the last quarter. 74.62% of the stock is currently owned by institutional investors and hedge funds.

Marvell Technology Group Ltd. (NASDAQ MRVL) opened at 15.39 on Friday. The stock has a market cap of $7.74 billion, a price-to-earnings ratio of 51.99 and a beta of 1.10. The firm’s 50 day moving average price is $16.16 and its 200 day moving average price is $15.98. Marvell Technology Group Ltd. has a 12 month low of $11.30 and a 12 month high of $18.18.

Marvell Technology Group (NASDAQ:MRVL) last announced its quarterly earnings results on Thursday, May 25th. The semiconductor company reported $0.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.04. The business had revenue of $579.18 million during the quarter, compared to the consensus estimate of $570.72 million. Marvell Technology Group had a net margin of 6.19% and a return on equity of 7.96%. The business’s revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.01 EPS. On average, equities research analysts predict that Marvell Technology Group Ltd. will post $1.10 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, July 21st. Stockholders of record on Wednesday, July 5th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, June 30th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.56%. Marvell Technology Group’s dividend payout ratio is currently 82.76%.

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A number of research firms have commented on MRVL. Zacks Investment Research raised Marvell Technology Group from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a report on Friday, May 26th. B. Riley reissued a “buy” rating and set a $21.00 price target on shares of Marvell Technology Group in a report on Monday, May 1st. Citigroup Inc. raised Marvell Technology Group to an “outperform” rating and set a $23.00 price target on the stock in a report on Friday, May 26th. Cowen and Company reissued an “outperform” rating and set a $21.00 price target on shares of Marvell Technology Group in a report on Wednesday, June 21st. Finally, BidaskClub cut Marvell Technology Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $18.44.

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.

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

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