Toronto Dominion Bank lifted its stake in shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) by 33.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 707,935 shares of the semiconductor company’s stock after acquiring an additional 175,903 shares during the quarter. Toronto Dominion Bank’s holdings in Marvell Technology Group were worth $13,662,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new position in shares of Marvell Technology Group during the 2nd quarter valued at approximately $117,000. MUFG Americas Holdings Corp purchased a new position in Marvell Technology Group in the 2nd quarter worth approximately $120,000. Commonwealth Bank of Australia lifted its holdings in 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 worth $185,000 after purchasing an additional 8,000 shares in the last quarter. Cerebellum GP LLC purchased a new position in Marvell Technology Group in the 3rd quarter worth approximately $183,000. Finally, K2 Principal Fund L.P. purchased a new position in Marvell Technology Group in the 2nd quarter worth approximately $207,000. Institutional investors own 90.25% of the company’s stock.

In other news, CEO Matthew J. Murphy sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $20.64, for a total transaction of $206,400.00. Following the sale, the chief executive officer now directly owns 1,755 shares of the company’s stock, valued at approximately $36,223.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.10% of the stock is owned by corporate insiders.

A number of research analysts recently commented on the company. Citigroup lowered their price target on Marvell Technology Group from $23.00 to $20.00 and set a “neutral” rating on the stock in a report on Friday, September 14th. BidaskClub cut Marvell Technology Group from a “hold” rating to a “sell” rating in a report on Saturday, October 27th. Cowen lowered their price target on Marvell Technology Group from $29.00 to $26.00 and set an “outperform” rating on the stock in a report on Monday, August 27th. TheStreet cut Marvell Technology Group from a “b” rating to a “c+” rating in a report on Friday, October 26th. Finally, Zacks Investment Research reissued a “buy” rating and issued a $19.00 price target on shares of Marvell Technology Group in a report on Wednesday, November 14th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and twenty-four have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $25.31.

Shares of MRVL opened at $15.19 on Tuesday. The company has a market cap of $10.47 billion, a PE ratio of 14.61, a PEG ratio of 1.89 and a beta of 1.09. Marvell Technology Group Ltd. has a 1 year low of $15.14 and a 1 year high of $25.18. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.76 and a current ratio of 2.54.

Marvell Technology Group (NASDAQ:MRVL) last issued its quarterly earnings data on Thursday, September 6th. The semiconductor company reported $0.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.01). The firm had revenue of $665.31 million for the quarter, compared to analysts’ expectations of $685.00 million. Marvell Technology Group had a return on equity of 10.70% and a net margin of 15.36%. The firm’s revenue was up 10.1% on a year-over-year basis. During the same period last year, the company earned $0.30 earnings per share. As a group, equities analysts forecast that Marvell Technology Group Ltd. will post 0.86 EPS for the current fiscal year.

Marvell Technology Group announced that its board has authorized a stock buyback plan on Tuesday, October 16th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to reacquire up to 7.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 23rd. Stockholders of record on Tuesday, October 2nd were issued a dividend of $0.06 per share. The ex-dividend date was Monday, October 1st. This represents a $0.24 annualized dividend and a dividend yield of 1.58%. Marvell Technology Group’s dividend payout ratio (DPR) is 23.08%.

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Marvell Technology Group 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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