First Mercantile Trust Co. decreased its stake in shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) by 60.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,150 shares of the semiconductor company’s stock after selling 69,000 shares during the period. First Mercantile Trust Co.’s holdings in Marvell Technology Group were worth $746,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of MRVL. Creative Planning raised its position in shares of Marvell Technology Group by 175.3% in the first quarter. Creative Planning now owns 7,158 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 4,558 shares during the last quarter. Cornerstone Financial Partners LLC raised its position in shares of Marvell Technology Group by 653.5% in the first quarter. Cornerstone Financial Partners LLC now owns 133,166 shares of the semiconductor company’s stock valued at $2,024,000 after buying an additional 115,492 shares during the last quarter. Fox Run Management L.L.C. raised its position in shares of Marvell Technology Group by 67.7% in the first quarter. Fox Run Management L.L.C. now owns 21,300 shares of the semiconductor company’s stock valued at $325,000 after buying an additional 8,600 shares during the last quarter. Affinity Wealth Management acquired a new position in shares of Marvell Technology Group during the first quarter valued at about $470,000. Finally, DnB Asset Management AS raised its position in shares of Marvell Technology Group by 10.8% in the first quarter. DnB Asset Management AS now owns 76,698 shares of the semiconductor company’s stock valued at $1,170,000 after buying an additional 7,500 shares during the last quarter. 74.62% of the stock is currently owned by institutional investors.

Marvell Technology Group Ltd. (NASDAQ:MRVL) opened at 15.39 on Friday. Marvell Technology Group Ltd. has a 52-week low of $11.30 and a 52-week high of $18.18. The company’s 50-day moving average is $16.16 and its 200-day moving average is $15.98. The firm has a market capitalization of $7.74 billion, a P/E ratio of 51.99 and a beta of 1.10.

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

The company also recently announced a quarterly dividend, which was paid on Friday, July 21st. Stockholders of record on Wednesday, July 5th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.56%. The ex-dividend date was Friday, June 30th. Marvell Technology Group’s dividend payout ratio (DPR) is presently 82.76%.

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Several equities analysts recently issued reports on MRVL shares. Needham & Company LLC reissued a “buy” rating and set a $21.00 price objective on shares of Marvell Technology Group in a report on Tuesday, April 18th. B. Riley restated a “buy” rating and issued a $21.00 target price on shares of Marvell Technology Group in a research note on Wednesday, April 26th. Zacks Investment Research downgraded shares of Marvell Technology Group from a “buy” rating to a “hold” rating in a research note on Wednesday, May 3rd. Deutsche Bank AG raised their target price on shares of Marvell Technology Group from $16.00 to $18.00 and gave the company a “hold” rating in a research note on Thursday, May 25th. Finally, Citigroup Inc. upgraded shares of Marvell Technology Group to an “outperform” rating and set a $23.00 target price for the company in a research note on Friday, May 26th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $18.44.

About Marvell Technology Group

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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