Crosslink Capital Inc. Sells 92,040 Shares of Marvell Technology Group Ltd. (NASDAQ:MRVL)

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Crosslink Capital Inc. reduced its holdings in shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) by 19.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 388,476 shares of the semiconductor company’s stock after selling 92,040 shares during the quarter. Marvell Technology Group makes up about 2.1% of Crosslink Capital Inc.’s holdings, making the stock its 16th largest position. Crosslink Capital Inc. owned about 0.06% of Marvell Technology Group worth $9,273,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in shares of Marvell Technology Group by 2.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,720,199 shares of the semiconductor company’s stock valued at $76,403,000 after buying an additional 128,943 shares during the period. Geode Capital Management LLC raised its stake in shares of Marvell Technology Group by 6.4% in the fourth quarter. Geode Capital Management LLC now owns 5,974,001 shares of the semiconductor company’s stock valued at $96,654,000 after buying an additional 360,969 shares during the period. First Republic Investment Management Inc. bought a new stake in shares of Marvell Technology Group in the first quarter valued at $213,000. Nissay Asset Management Corp Japan ADV raised its stake in shares of Marvell Technology Group by 5.7% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 58,065 shares of the semiconductor company’s stock valued at $1,155,000 after buying an additional 3,153 shares during the period. Finally, Mn Services Vermogensbeheer B.V. raised its stake in shares of Marvell Technology Group by 3.6% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 348,098 shares of the semiconductor company’s stock valued at $6,924,000 after buying an additional 12,100 shares during the period.

Shares of NASDAQ MRVL traded down $0.03 during midday trading on Friday, reaching $25.94. The company had a trading volume of 33,670 shares, compared to its average volume of 7,724,842. Marvell Technology Group Ltd. has a one year low of $14.34 and a one year high of $27.64. The company has a quick ratio of 2.68, a current ratio of 3.06 and a debt-to-equity ratio of 0.23. The firm’s fifty day moving average price is $24.96 and its 200-day moving average price is $23.32. The stock has a market cap of $16.55 billion, a PE ratio of 30.54, a price-to-earnings-growth ratio of 11.63 and a beta of 1.19.

Marvell Technology Group (NASDAQ:MRVL) last posted its earnings results on Thursday, August 29th. The semiconductor company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.11. The firm had revenue of $656.56 million for the quarter, compared to the consensus estimate of $650.29 million. Marvell Technology Group had a positive return on equity of 5.25% and a negative net margin of 14.42%. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.28 EPS. As a group, equities research analysts expect that Marvell Technology Group Ltd. will post 0.34 EPS for the current year.

Several analysts have issued reports on MRVL shares. BMO Capital Markets set a $28.00 target price on Marvell Technology Group and gave the company a “buy” rating in a research note on Monday, August 26th. Zacks Investment Research cut Marvell Technology Group from a “hold” rating to a “sell” rating and set a $29.00 price target for the company. in a research report on Thursday, July 25th. B. Riley set a $28.00 price target on Marvell Technology Group and gave the company a “buy” rating in a research report on Monday, August 26th. UBS Group set a $29.00 price target on Marvell Technology Group and gave the company a “buy” rating in a research report on Friday, August 23rd. Finally, Barclays set a $30.00 price target on Marvell Technology Group and gave the company a “buy” rating in a research report on Friday, August 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-two have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $26.96.

In other Marvell Technology Group news, CEO Matthew J. Murphy sold 265,000 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $26.02, for a total transaction of $6,895,300.00. Following the sale, the chief executive officer now directly owns 1,755 shares of the company’s stock, valued at $45,665.10. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Michael G. Strachan sold 10,000 shares of the firm’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $23.78, for a total value of $237,800.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 447,913 shares of company stock worth $11,372,351. 1.10% of the stock is owned by insiders.

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 preamplifiers; supports a variety of host system interfaces consisting of serial attached SCSI (SAS), serial advanced technology attachment (SATA), peripheral component interconnect express, and non-volatile memory express; and develops software-enabled silicon solutions comprising SATA port multipliers, bridges, SATA, SAS, 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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