K2 Principal Fund L.P. acquired a new position in shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 9,633 shares of the semiconductor company’s stock, valued at approximately $207,000.

Other large investors have also recently bought and sold shares of the company. Commonwealth Equity Services LLC grew its stake in Marvell Technology Group by 9.3% in the first quarter. Commonwealth Equity Services LLC now owns 32,691 shares of the semiconductor company’s stock valued at $686,000 after purchasing an additional 2,783 shares in the last quarter. Xact Kapitalforvaltning AB grew its stake in Marvell Technology Group by 4.6% in the first quarter. Xact Kapitalforvaltning AB now owns 65,011 shares of the semiconductor company’s stock valued at $1,365,000 after purchasing an additional 2,886 shares in the last quarter. Profund Advisors LLC grew its stake in Marvell Technology Group by 3.0% in the first quarter. Profund Advisors LLC now owns 102,539 shares of the semiconductor company’s stock valued at $2,153,000 after purchasing an additional 2,973 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in Marvell Technology Group by 2.0% in the second quarter. BNP Paribas Arbitrage SA now owns 153,996 shares of the semiconductor company’s stock valued at $3,302,000 after purchasing an additional 3,060 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. grew its stake in Marvell Technology Group by 24.3% in the first quarter. C M Bidwell & Associates Ltd. now owns 15,794 shares of the semiconductor company’s stock valued at $332,000 after purchasing an additional 3,085 shares in the last quarter.

MRVL has been the subject of a number of analyst reports. UBS Group decreased their price target on Marvell Technology Group from $38.00 to $33.00 and set a “buy” rating for the company in a research note on Friday, July 6th. Argus restated a “buy” rating and issued a $28.00 price target on shares of Marvell Technology Group in a research note on Friday, June 29th. ValuEngine upgraded Marvell Technology Group from a “hold” rating to a “buy” rating in a research note on Thursday, June 28th. Deutsche Bank upgraded Marvell Technology Group from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research note on Tuesday, June 26th. Finally, Zacks Investment Research upgraded Marvell Technology Group from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research note on Tuesday, June 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $26.10.

MRVL opened at $19.45 on Friday. Marvell Technology Group Ltd. has a 12-month low of $17.20 and a 12-month high of $25.18. The company has a market capitalization of $9.76 billion, a PE ratio of 18.70, a price-to-earnings-growth ratio of 1.44 and a beta of 0.91.

Marvell Technology Group (NASDAQ:MRVL) last released its quarterly earnings data on Thursday, September 6th. The semiconductor company reported $0.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.01). Marvell Technology Group had a net margin of 15.36% and a return on equity of 12.95%. The business had revenue of $665.31 million during the quarter, compared to analyst estimates of $685.00 million. During the same period in the previous year, the business earned $0.30 earnings per share. The business’s quarterly revenue was up 10.1% on a year-over-year basis. sell-side analysts anticipate that Marvell Technology Group Ltd. will post 1.19 EPS for the current year.

In related news, insider Marvell Semiconductor, Inc. Ca sold 1,755 shares of Marvell Technology Group stock in a transaction that occurred on Monday, June 11th. The stock was sold at an average price of $21.55, for a total transaction of $37,820.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Matthew J. Murphy sold 10,000 shares of Marvell Technology Group stock in a transaction that occurred on Thursday, July 5th. The stock was sold at an average price of $21.15, for a total value of $211,500.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,755 shares of company stock valued at $669,020. 0.10% of the stock is currently owned by insiders.

Marvell Technology Group Company Profile

Marvell Technology Group Ltd. designs, develops, and markets analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a range of storage products, including hard disk drive (HDD) and solid-state drive controllers, as well as HDD components, such as HDD preamps components; and develops software-enabled silicon solutions comprising serial advanced technology attachment port multipliers, bridges, serial attached SCSI, and non-volatile memory express redundant array of independent disks controllers and converged storage processors for enterprises, data centers, and cloud computing businesses.

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

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