Marvell Technology Group Ltd. (MRVL) Shares Bought by Gotham Asset Management LLC

Gotham Asset Management LLC raised its stake in shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) by 232.7% during the first quarter, Holdings Channel reports. The firm owned 324,373 shares of the semiconductor company’s stock after buying an additional 226,873 shares during the period. Gotham Asset Management LLC’s holdings in Marvell Technology Group were worth $4,950,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Creative Planning boosted its stake in shares of Marvell Technology Group by 175.3% in the first quarter. Creative Planning now owns 7,158 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 4,558 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Marvell Technology Group by 103.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 7,258 shares of the semiconductor company’s stock valued at $102,000 after buying an additional 3,696 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Marvell Technology Group by 454.8% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,777 shares of the semiconductor company’s stock valued at $122,000 after buying an additional 7,195 shares in the last quarter. James Investment Research Inc. bought a new stake in shares of Marvell Technology Group during the first quarter valued at about $138,000. Finally, United Capital Financial Advisers LLC bought a new stake in shares of Marvell Technology Group during the first quarter valued at about $165,000. Institutional investors own 74.09% of the company’s stock.

Shares of Marvell Technology Group Ltd. (NASDAQ MRVL) traded down 2.295% during midday trading on Tuesday, hitting $17.245. 1,019,912 shares of the stock were exchanged. The firm has a market cap of $8.67 billion, a P/E ratio of 58.260 and a beta of 1.01. The stock’s 50 day moving average is $16.61 and its 200 day moving average is $15.49. Marvell Technology Group Ltd. has a 12-month low of $9.05 and a 12-month high of $18.18.

Marvell Technology Group (NASDAQ:MRVL) last posted its quarterly earnings results on Thursday, May 25th. The semiconductor company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.04. The company had revenue of $579.18 million for 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 business’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period last year, the business posted $0.01 EPS. On average, equities research analysts forecast that Marvell Technology Group Ltd. will post $1.11 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 21st. Shareholders of record on Wednesday, July 5th will be given a $0.06 dividend. The ex-dividend date of this dividend is Friday, June 30th. This represents a $0.24 annualized dividend and a yield of 1.36%. Marvell Technology Group’s dividend payout ratio is 82.76%.

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MRVL has been the subject of several research reports. CIBC raised shares of Marvell Technology Group from a “market perform” rating to an “outperform” rating in a research note on Friday, May 26th. Needham & Company LLC raised shares of Marvell Technology Group from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research note on Monday, March 13th. Goldman Sachs Group, Inc. (The) raised shares of Marvell Technology Group from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $12.00 to $16.00 in a research note on Wednesday, March 1st. Credit Suisse Group reissued a “buy” rating and set a $18.00 price objective on shares of Marvell Technology Group in a research note on Wednesday, March 1st. Finally, TheStreet raised shares of Marvell Technology Group from a “c” rating to a “b” rating in a research note on Thursday, May 25th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $17.93.

Marvell Technology Group Company Profile

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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