Macquarie Group Ltd. Has $205,000 Holdings in Marvell Technology Group Ltd. (MRVL)

Macquarie Group Ltd. held its stake in Marvell Technology Group Ltd. (NASDAQ:MRVL) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,400 shares of the semiconductor company’s stock at the close of the 2nd quarter. Macquarie Group Ltd.’s holdings in Marvell Technology Group were worth $205,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the stock. Broadview Advisors LLC bought a new stake in Marvell Technology Group in the second quarter worth $6,155,000. Royal Bank of Canada boosted its holdings in Marvell Technology Group by 40.1% in the second quarter. Royal Bank of Canada now owns 143,179 shares of the semiconductor company’s stock worth $2,366,000 after purchasing an additional 40,971 shares in the last quarter. AHL Partners LLP boosted its holdings in Marvell Technology Group by 1,155.2% in the second quarter. AHL Partners LLP now owns 215,321 shares of the semiconductor company’s stock worth $3,557,000 after purchasing an additional 198,166 shares in the last quarter. Clinton Group Inc. boosted its holdings in Marvell Technology Group by 29.2% in the second quarter. Clinton Group Inc. now owns 270,426 shares of the semiconductor company’s stock worth $4,467,000 after purchasing an additional 61,113 shares in the last quarter. Finally, Stifel Financial Corp boosted its holdings in Marvell Technology Group by 22.6% in the second quarter. Stifel Financial Corp now owns 20,648 shares of the semiconductor company’s stock worth $343,000 after purchasing an additional 3,811 shares in the last quarter. Hedge funds and other institutional investors own 76.66% of the company’s stock.

A number of brokerages recently issued reports on MRVL. B. Riley reiterated a “buy” rating and issued a $23.00 price objective on shares of Marvell Technology Group in a report on Friday, September 1st. BidaskClub upgraded shares of Marvell Technology Group from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 16th. KeyCorp upped their price objective on shares of Marvell Technology Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Friday, August 25th. Cowen and Company reiterated a “buy” rating and issued a $21.00 price objective on shares of Marvell Technology Group in a report on Monday, August 21st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $21.00 price objective on shares of Marvell Technology Group in a report on Thursday, August 24th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $19.34.

In other Marvell Technology Group news, major shareholder Sehat Sutardja sold 62,337 shares of Marvell Technology Group stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $18.48, for a total value of $1,151,987.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 17,558,035 shares of company stock valued at $320,838,284 in the last quarter. Corporate insiders own 6.80% of the company’s stock.

Marvell Technology Group (NASDAQ:MRVL) last issued its quarterly earnings data on Thursday, August 24th. The semiconductor company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.03). Marvell Technology Group had a return on equity of 9.99% and a net margin of 10.97%. The business had revenue of $604.75 million during the quarter, compared to analyst estimates of $600.76 million. During the same quarter last year, the firm earned $0.18 EPS. Marvell Technology Group’s revenue for the quarter was up 16.4% compared to the same quarter last year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 26th. Shareholders of record on Tuesday, October 10th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of Infinity. The ex-dividend date of this dividend was Friday, October 6th. Marvell Technology Group’s dividend payout ratio (DPR) is 47.06%.

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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.

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

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