Park West Asset Management LLC Takes Position in Marvell Technology Group Ltd. (MRVL)

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Park West Asset Management LLC purchased a new position in shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 1,700,000 shares of the semiconductor company’s stock, valued at approximately $27,523,000. Marvell Technology Group makes up about 1.4% of Park West Asset Management LLC’s portfolio, making the stock its 25th largest position.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC boosted its holdings in Marvell Technology Group by 32.5% in the 3rd quarter. Commonwealth Equity Services LLC now owns 45,086 shares of the semiconductor company’s stock valued at $870,000 after purchasing an additional 11,065 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Marvell Technology Group by 7.2% in the 3rd quarter. SG Americas Securities LLC now owns 173,202 shares of the semiconductor company’s stock valued at $3,343,000 after purchasing an additional 11,678 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in Marvell Technology Group by 48.7% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 95,421 shares of the semiconductor company’s stock valued at $1,842,000 after purchasing an additional 31,269 shares in the last quarter. Prudential Financial Inc. boosted its holdings in Marvell Technology Group by 38.7% in the 3rd quarter. Prudential Financial Inc. now owns 37,061 shares of the semiconductor company’s stock valued at $715,000 after purchasing an additional 10,335 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in Marvell Technology Group by 54.4% in the 3rd quarter. Rhumbline Advisers now owns 617,657 shares of the semiconductor company’s stock valued at $11,921,000 after purchasing an additional 217,670 shares in the last quarter. 96.10% of the stock is currently owned by hedge funds and other institutional investors.

MRVL stock opened at $20.01 on Thursday. Marvell Technology Group Ltd. has a 12-month low of $14.34 and a 12-month high of $23.38. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.32 and a quick ratio of 1.74. The company has a market cap of $13.15 billion, a PE ratio of 23.54, a P/E/G ratio of 4.61 and a beta of 1.01.

Marvell Technology Group (NASDAQ:MRVL) last posted its quarterly earnings results on Thursday, March 7th. The semiconductor company reported $0.17 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.02). Marvell Technology Group had a negative net margin of 6.25% and a positive return on equity of 8.19%. The company had revenue of $744.80 million for the quarter, compared to analyst estimates of $739.88 million. During the same quarter in the previous year, the business posted $0.32 earnings per share. On average, analysts forecast that Marvell Technology Group Ltd. will post 0.63 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Wednesday, April 3rd will be given a dividend of $0.06 per share. The ex-dividend date is Tuesday, April 2nd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.20%. Marvell Technology Group’s payout ratio is 28.24%.

In related news, CFO Jean X. Hu acquired 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 26th. The stock was purchased at an average cost of $14.67 per share, for a total transaction of $220,050.00. Following the transaction, the chief financial officer now directly owns 51,077 shares of the company’s stock, valued at approximately $749,299.59. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Syed Ali sold 442,000 shares of Marvell Technology Group stock in a transaction that occurred on Friday, January 11th. The stock was sold at an average price of $17.14, for a total value of $7,575,880.00. Following the transaction, the director now owns 4,950,515 shares of the company’s stock, valued at $84,851,827.10. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by company insiders.

A number of equities research analysts have weighed in on the company. UBS Group lowered their price objective on Marvell Technology Group from $30.00 to $25.00 and set an “in-line” rating on the stock in a report on Thursday, December 6th. BidaskClub raised Marvell Technology Group from a “sell” rating to a “hold” rating in a report on Friday, December 28th. Barclays lowered their price objective on Marvell Technology Group from $25.00 to $23.00 and set an “overweight” rating on the stock in a report on Friday, November 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Marvell Technology Group in a report on Monday, January 14th. Finally, Benchmark lowered their price objective on Marvell Technology Group to $30.00 in a report on Sunday, December 2nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and sixteen have issued a buy rating to the stock. Marvell Technology Group presently has an average rating of “Buy” and a consensus target price of $24.71.

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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.

Further Reading: Calculate Your Return on Investment (ROI)

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

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