OxFORD Asset Management LLP trimmed its holdings in Marvell Technology Group Ltd. (NASDAQ:MRVL) by 90.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,113 shares of the semiconductor company’s stock after selling 256,509 shares during the quarter. OxFORD Asset Management LLP’s holdings in Marvell Technology Group were worth $464,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Greenwood Capital Associates LLC lifted its stake in Marvell Technology Group by 37.0% in the 2nd quarter. Greenwood Capital Associates LLC now owns 18,900 shares of the semiconductor company’s stock worth $312,000 after purchasing an additional 5,105 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Marvell Technology Group by 9.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 547,334 shares of the semiconductor company’s stock worth $9,042,000 after purchasing an additional 47,648 shares in the last quarter. Jennison Associates LLC purchased a new position in Marvell Technology Group in the 2nd quarter worth approximately $36,663,000. Seven Eight Capital LP lifted its stake in Marvell Technology Group by 41.3% in the 2nd quarter. Seven Eight Capital LP now owns 228,974 shares of the semiconductor company’s stock worth $3,783,000 after purchasing an additional 66,900 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in Marvell Technology Group by 15.6% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 129,709 shares of the semiconductor company’s stock worth $2,143,000 after purchasing an additional 17,485 shares in the last quarter. 76.61% of the stock is currently owned by institutional investors and hedge funds.

Marvell Technology Group Ltd. (NASDAQ:MRVL) opened at 18.41 on Friday. Marvell Technology Group Ltd. has a 1-year low of $12.30 and a 1-year high of $18.72. The firm has a 50 day moving average of $18.07 and a 200 day moving average of $16.61. The firm has a market cap of $9.13 billion, a P/E ratio of 35.68 and a beta of 1.13.

Marvell Technology Group (NASDAQ:MRVL) last issued its earnings results on Thursday, August 24th. The semiconductor company reported $0.25 EPS for the quarter, missing the Zacks’ consensus estimate 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 business had revenue of $604.75 million during the quarter, compared to analysts’ expectations of $600.76 million. During the same period in the prior year, the business posted $0.18 EPS. The business’s revenue was up 16.4% on a year-over-year basis. On average, equities research analysts expect that Marvell Technology Group Ltd. will post $1.13 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 26th. Stockholders of record on Tuesday, October 10th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date is Friday, October 6th. Marvell Technology Group’s dividend payout ratio is presently 47.06%.

A number of research analysts have weighed in on MRVL shares. BidaskClub lowered shares of Marvell Technology Group from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. Jefferies Group LLC reissued a “hold” rating and issued a $18.50 target price (down from $19.00) on shares of Marvell Technology Group in a research note on Thursday, August 24th. Needham & Company LLC reissued a “buy” rating and issued a $21.00 target price on shares of Marvell Technology Group in a research note on Thursday, August 24th. BMO Capital Markets reissued a “market perform” rating and issued a $16.00 target price on shares of Marvell Technology Group in a research note on Monday, August 28th. Finally, Zacks Investment Research lowered shares of Marvell Technology Group from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $19.34.

In other news, major shareholder Sehat Sutardja sold 492,343 shares of the firm’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $17.41, for a total value of $8,571,691.63. The sale was disclosed in a filing with the SEC, which is accessible through this link. In the last three months, insiders sold 15,754,429 shares of company stock worth $287,418,990. Insiders own 6.80% of the company’s stock.

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Marvell Technology Group 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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