QS Investors LLC held its position in Marvell Technology Group Ltd. (NASDAQ:MRVL) during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 37,540 shares of the semiconductor company’s stock at the close of the second quarter. QS Investors LLC’s holdings in Marvell Technology Group were worth $620,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the business. Stifel Financial Corp lifted its position in Marvell Technology Group by 22.6% during the 2nd quarter. Stifel Financial Corp now owns 20,648 shares of the semiconductor company’s stock valued at $343,000 after purchasing an additional 3,811 shares during the period. Numeric Investors LLC acquired a new position in Marvell Technology Group during the 2nd quarter valued at about $354,000. Brandywine Global Investment Management LLC lifted its position in Marvell Technology Group by 16.0% during the 2nd quarter. Brandywine Global Investment Management LLC now owns 454,284 shares of the semiconductor company’s stock valued at $7,505,000 after purchasing an additional 62,700 shares during the period. Zacks Investment Management lifted its position in Marvell Technology Group by 28.9% during the 2nd quarter. Zacks Investment Management now owns 83,835 shares of the semiconductor company’s stock valued at $1,385,000 after purchasing an additional 18,815 shares during the period. Finally, B. Riley Financial Inc. lifted its position in Marvell Technology Group by 235.4% during the 2nd quarter. B. Riley Financial Inc. now owns 105,948 shares of the semiconductor company’s stock valued at $1,750,000 after purchasing an additional 74,355 shares during the period. Institutional investors own 76.61% of the company’s stock.

A number of research firms have issued reports on MRVL. B. Riley restated a “buy” rating and set a $23.00 target price on shares of Marvell Technology Group in a research report on Friday, September 1st. Cowen and Company reiterated a “buy” rating on shares of Marvell Technology Group in a research report on Friday. KeyCorp reiterated a “buy” rating and issued a $25.00 price target on shares of Marvell Technology Group in a research report on Wednesday, October 4th. BidaskClub upgraded shares of Marvell Technology Group from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 16th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $21.00 price target on shares of Marvell Technology Group in a research report on Thursday, August 24th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $19.31.

In other news, major shareholder Sehat Sutardja sold 420,422 shares of the company’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $17.84, for a total transaction of $7,500,328.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 15,754,429 shares of company stock worth $287,418,990 in the last ninety days. Insiders own 6.80% of the company’s stock.

Shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) opened at 18.28 on Friday. The firm has a market cap of $9.06 billion, a P/E ratio of 35.43 and a beta of 1.13. The stock’s 50 day moving average price is $17.97 and its 200-day moving average price is $16.53. Marvell Technology Group Ltd. has a 12-month low of $12.30 and a 12-month high of $18.72.

Marvell Technology Group (NASDAQ:MRVL) last issued its quarterly earnings results on Thursday, August 24th. The semiconductor company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.03). Marvell Technology Group had a net margin of 10.97% and a return on equity of 9.99%. The firm had revenue of $604.75 million for the quarter, compared to analysts’ expectations of $600.76 million. During the same period in the prior year, the company earned $0.18 EPS. The firm’s quarterly revenue was up 16.4% on a year-over-year basis. On average, analysts predict that Marvell Technology Group Ltd. will post $1.13 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 26th. Stockholders of record on Tuesday, October 10th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, October 6th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.31%. Marvell Technology Group’s dividend payout ratio is presently 47.06%.

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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.

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

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