Marvell Technology Group Ltd. (MRVL) Shares Bought by Amalgamated Bank

Amalgamated Bank boosted its position in Marvell Technology Group Ltd. (NASDAQ:MRVL) by 3.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 57,842 shares of the semiconductor company’s stock after buying an additional 1,871 shares during the period. Amalgamated Bank’s holdings in Marvell Technology Group were worth $883,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Sciencast Management LP purchased a new stake in Marvell Technology Group during the fourth quarter worth $378,000. Glenview Capital Management LLC purchased a new stake in Marvell Technology Group during the fourth quarter worth $54,408,000. Loomis Sayles & Co. L P purchased a new stake in Marvell Technology Group during the fourth quarter worth $8,332,000. Janus Capital Management LLC boosted its stake in Marvell Technology Group by 134.8% in the fourth quarter. Janus Capital Management LLC now owns 164,335 shares of the semiconductor company’s stock worth $2,279,000 after buying an additional 94,335 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in Marvell Technology Group by 7.7% in the fourth quarter. Franklin Resources Inc. now owns 14,079 shares of the semiconductor company’s stock worth $195,000 after buying an additional 1,006 shares in the last quarter. Institutional investors and hedge funds own 74.09% of the company’s stock.

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

Shares of Marvell Technology Group Ltd. (NASDAQ MRVL) traded up 0.544% on Tuesday, hitting $17.545. The company had a trading volume of 6,678,355 shares. The company has a market cap of $8.82 billion, a price-to-earnings ratio of 59.274 and a beta of 1.01. Marvell Technology Group Ltd. has a 12-month low of $9.05 and a 12-month high of $18.18. The company has a 50 day moving average of $16.54 and a 200-day moving average of $15.46.

Marvell Technology Group (NASDAQ:MRVL) last posted its quarterly earnings results on Thursday, May 25th. The semiconductor company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.16 by $0.04. Marvell Technology Group had a net margin of 16.74% and a return on equity of 9.74%. The business had revenue of $579.18 million for the quarter, compared to analysts’ expectations of $570.72 million. During the same period in the previous year, the company posted $0.01 EPS. Marvell Technology Group’s revenue was up 11.5% on a year-over-year basis. On average, analysts forecast that Marvell Technology Group Ltd. will post $1.11 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 21st. Stockholders of record on Wednesday, July 5th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.38%. The ex-dividend date is Friday, June 30th. Marvell Technology Group’s dividend payout ratio is currently 82.76%.

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A number of research firms recently weighed in on MRVL. B. Riley restated a “buy” rating and issued a $23.00 price target on shares of Marvell Technology Group in a report on Friday, June 2nd. TheStreet upgraded Marvell Technology Group from a “c” rating to a “b” rating in a report on Thursday, May 25th. Morgan Stanley upped their price target on Marvell Technology Group from $17.00 to $18.50 and gave the stock an “equal weight” rating in a report on Tuesday, May 30th. Pacific Crest upgraded Marvell Technology Group from a “sector weight” rating to an “overweight” rating and set a $22.00 price target on the stock in a report on Tuesday. Finally, Citigroup Inc. upgraded Marvell Technology Group to an “outperform” rating and set a $23.00 price target on the stock in a report on Friday, May 26th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $17.93.

About Marvell Technology Group

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:MRVL”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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