Parametric Portfolio Associates LLC boosted its position in Marvell Technology Group Ltd. (NASDAQ:MRVL) by 6.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 943,989 shares of the semiconductor company’s stock after buying an additional 53,038 shares during the period. Parametric Portfolio Associates LLC owned approximately 0.19% of Marvell Technology Group worth $16,897,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Greenwood Capital Associates LLC boosted its position in Marvell Technology Group by 37.0% in the second quarter. Greenwood Capital Associates LLC now owns 18,900 shares of the semiconductor company’s stock valued at $312,000 after buying an additional 5,105 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Marvell Technology Group by 9.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 547,334 shares of the semiconductor company’s stock valued at $9,042,000 after buying an additional 47,648 shares during the last quarter. Teton Advisors Inc. lifted its holdings in Marvell Technology Group by 14.7% in the third quarter. Teton Advisors Inc. now owns 71,700 shares of the semiconductor company’s stock valued at $1,283,000 after acquiring an additional 9,200 shares during the period. Seven Eight Capital LP lifted its holdings in Marvell Technology Group by 41.3% in the second quarter. Seven Eight Capital LP now owns 228,974 shares of the semiconductor company’s stock valued at $3,783,000 after acquiring an additional 66,900 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in Marvell Technology Group by 15.6% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 129,709 shares of the semiconductor company’s stock valued at $2,143,000 after acquiring an additional 17,485 shares during the period. Hedge funds and other institutional investors own 78.70% of the company’s stock.

In related news, major shareholder Sehat Sutardja sold 387,642 shares of the stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of $18.48, for a total value of $7,163,624.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Marvell Semiconductor, Inc. Ca sold 9,812 shares of the stock in a transaction on Friday, December 1st. The shares were sold at an average price of $21.20, for a total value of $208,014.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,054,109 shares of company stock valued at $223,145,938. Corporate insiders own 6.80% of the company’s stock.

Marvell Technology Group Ltd. (NASDAQ MRVL) opened at $21.89 on Friday. The firm has a market capitalization of $10,830.96, a P/E ratio of 28.43, a PEG ratio of 1.33 and a beta of 1.13. Marvell Technology Group Ltd. has a 52 week low of $13.83 and a 52 week high of $24.22.

Marvell Technology Group (NASDAQ:MRVL) last announced its earnings results on Tuesday, November 28th. The semiconductor company reported $0.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.01. The business had revenue of $616.00 million during the quarter, compared to the consensus estimate of $613.49 million. Marvell Technology Group had a return on equity of 11.93% and a net margin of 16.53%. The business’s quarterly revenue was down 5.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.20 EPS. research analysts predict that Marvell Technology Group Ltd. will post 1.01 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Wednesday, December 27th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Tuesday, December 26th. Marvell Technology Group’s payout ratio is 31.17%.

A number of research analysts have issued reports on MRVL shares. Benchmark raised Marvell Technology Group from a “hold” rating to a “buy” rating and boosted their price target for the company from $17.00 to $30.00 in a report on Monday, November 20th. Citigroup raised Marvell Technology Group from a “sell” rating to a “neutral” rating and set a $22.00 price target for the company in a report on Tuesday, November 7th. Oppenheimer reissued a “buy” rating and issued a $23.00 price target on shares of Marvell Technology Group in a report on Monday, November 6th. Barclays raised Marvell Technology Group from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $20.00 to $30.00 in a report on Tuesday, November 21st. Finally, Bank of America raised Marvell Technology Group from a “neutral” rating to a “buy” rating in a report on Monday, November 20th. Eight analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $23.92.

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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.

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

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