Marvell Technology Group Ltd. (MRVL) Shares Bought by NGAM Advisors L.P.

NGAM Advisors L.P. increased its position in Marvell Technology Group Ltd. (NASDAQ:MRVL) by 28.4% during the second quarter, Holdings Channel reports. The fund owned 171,521 shares of the semiconductor company’s stock after buying an additional 37,892 shares during the period. NGAM Advisors L.P.’s holdings in Marvell Technology Group were worth $2,834,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Creative Planning increased its position in Marvell Technology Group by 175.3% in the first quarter. Creative Planning now owns 7,158 shares of the semiconductor company’s stock worth $109,000 after buying an additional 4,558 shares during the period. Tower Research Capital LLC TRC increased its position in Marvell Technology Group by 1,740.4% in the first quarter. Tower Research Capital LLC TRC now owns 7,969 shares of the semiconductor company’s stock worth $122,000 after buying an additional 7,536 shares during the period. James Investment Research Inc. acquired a new position in Marvell Technology Group during the first quarter worth $138,000. United Capital Financial Advisers LLC acquired a new position in Marvell Technology Group during the first quarter worth $165,000. Finally, Mn Services Vermogensbeheer B.V. increased its position in Marvell Technology Group by 4.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 11,607 shares of the semiconductor company’s stock worth $166,000 after buying an additional 492 shares during the period. Institutional investors and hedge funds own 74.62% of the company’s stock.

Shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) opened at 15.05 on Friday. Marvell Technology Group Ltd. has a 52 week low of $11.30 and a 52 week high of $18.18. The firm has a 50-day moving average of $16.22 and a 200 day moving average of $15.97. The firm has a market cap of $7.56 billion, a PE ratio of 50.84 and a beta of 1.10.

Marvell Technology Group (NASDAQ:MRVL) last posted its quarterly earnings results on Thursday, May 25th. The semiconductor company reported $0.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.04. The company had revenue of $579.18 million during the quarter, compared to analyst estimates of $570.72 million. Marvell Technology Group had a net margin of 6.19% and a return on equity of 7.96%. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.01 earnings per share. Equities research analysts predict that Marvell Technology Group Ltd. will post $1.10 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, July 21st. Shareholders of record on Wednesday, July 5th were given a dividend of $0.06 per share. The ex-dividend date was Friday, June 30th. This represents a $0.24 dividend on an annualized basis and a yield of 1.59%. Marvell Technology Group’s dividend payout ratio is presently 82.76%.

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A number of research analysts recently weighed in on MRVL shares. Zacks Investment Research downgraded shares of Marvell Technology Group from a “buy” rating to a “hold” rating in a research report on Wednesday, May 3rd. B. Riley reaffirmed a “buy” rating and issued a $23.00 target price on shares of Marvell Technology Group in a research report on Wednesday, June 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $21.00 target price on shares of Marvell Technology Group in a research report on Tuesday, April 18th. BidaskClub downgraded shares of Marvell Technology Group from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Finally, TheStreet raised shares of Marvell Technology Group from a “c” rating to a “b” rating in a research report on Thursday, May 25th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $18.44.

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.

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

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