Moneta Group Investment Advisors LLC lifted its stake in Marvell Technology Group Ltd. (NASDAQ:MRVL) by 79.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,335 shares of the semiconductor company’s stock after buying an additional 25,885 shares during the period. Moneta Group Investment Advisors LLC’s holdings in Marvell Technology Group were worth $1,251,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. MUFG Americas Holdings Corp purchased a new position in shares of Marvell Technology Group in the 2nd quarter valued at $120,000. Point72 Asia Hong Kong Ltd purchased a new position in shares of Marvell Technology Group in the 1st quarter valued at $184,000. Commonwealth Bank of Australia grew its position in shares of Marvell Technology Group by 1,142.9% in the 2nd quarter. Commonwealth Bank of Australia now owns 8,700 shares of the semiconductor company’s stock valued at $185,000 after buying an additional 8,000 shares during the last quarter. TLP Group LLC grew its position in shares of Marvell Technology Group by 1,371.2% in the 1st quarter. TLP Group LLC now owns 9,695 shares of the semiconductor company’s stock valued at $204,000 after buying an additional 9,036 shares during the last quarter. Finally, Creative Planning purchased a new position in shares of Marvell Technology Group in the 2nd quarter valued at $207,000.

In other news, CEO Matthew J. Murphy sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $20.64, for a total value of $206,400.00. Following the completion of the sale, the chief executive officer now owns 1,755 shares in the company, valued at approximately $36,223.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 30,000 shares of company stock valued at $631,200 in the last 90 days. Company insiders own 0.10% of the company’s stock.

A number of research analysts recently commented on MRVL shares. UBS Group dropped their target price on shares of Marvell Technology Group from $38.00 to $33.00 and set a “buy” rating on the stock in a research report on Friday, July 6th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $27.00 target price on shares of Marvell Technology Group in a research report on Sunday, September 9th. BMO Capital Markets reaffirmed a “hold” rating and issued a $24.00 target price on shares of Marvell Technology Group in a research report on Friday, September 7th. Evercore ISI started coverage on shares of Marvell Technology Group in a research report on Tuesday, June 26th. They issued an “outperform” rating and a $27.00 target price on the stock. Finally, ValuEngine downgraded shares of Marvell Technology Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 21st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $26.02.

Shares of NASDAQ:MRVL opened at $18.97 on Friday. The firm has a market cap of $9.19 billion, a P/E ratio of 18.24, a price-to-earnings-growth ratio of 1.73 and a beta of 0.91. Marvell Technology Group Ltd. has a 1-year low of $17.49 and a 1-year high of $25.18.

Marvell Technology Group (NASDAQ:MRVL) last issued its quarterly earnings results on Thursday, September 6th. The semiconductor company reported $0.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.01). The business had revenue of $665.31 million for the quarter, compared to analyst estimates of $685.00 million. Marvell Technology Group had a return on equity of 12.95% and a net margin of 15.36%. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.30 EPS. analysts forecast that Marvell Technology Group Ltd. will post 0.86 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 23rd. Stockholders of record on Tuesday, October 2nd will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.27%. Marvell Technology Group’s dividend payout ratio (DPR) is presently 23.08%.

About Marvell Technology Group

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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