OxFORD Asset Management LLP Increases Stake in Marvell Technology Group Ltd. (MRVL)

OxFORD Asset Management LLP grew its stake in shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) by 1,393.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 419,725 shares of the semiconductor company’s stock after buying an additional 391,612 shares during the period. OxFORD Asset Management LLP owned 0.08% of Marvell Technology Group worth $7,542,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. KBC Group NV grew its stake in shares of Marvell Technology Group by 30.3% during the 3rd quarter. KBC Group NV now owns 415,258 shares of the semiconductor company’s stock valued at $7,433,000 after buying an additional 96,649 shares during the period. Hillsdale Investment Management Inc. purchased a new stake in shares of Marvell Technology Group during the 3rd quarter valued at $345,000. Schwab Charles Investment Management Inc. grew its stake in shares of Marvell Technology Group by 2.5% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 1,543,872 shares of the semiconductor company’s stock valued at $27,636,000 after buying an additional 38,260 shares during the period. Barings LLC grew its stake in shares of Marvell Technology Group by 38.1% during the 3rd quarter. Barings LLC now owns 21,400 shares of the semiconductor company’s stock valued at $383,000 after buying an additional 5,900 shares during the period. Finally, Wells Fargo & Company MN grew its stake in shares of Marvell Technology Group by 1.2% during the 3rd quarter. Wells Fargo & Company MN now owns 621,803 shares of the semiconductor company’s stock valued at $11,131,000 after buying an additional 7,481 shares during the period. 78.10% of the stock is owned by institutional investors.

In other Marvell Technology Group news, major shareholder Sehat Sutardja sold 537,235 shares of the business’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $17.57, for a total value of $9,439,218.95. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders sold a total of 17,558,035 shares of company stock worth $320,838,284 in the last quarter. 6.80% of the stock is currently owned by company insiders.

Marvell Technology Group Ltd. (MRVL) opened at $22.18 on Monday. Marvell Technology Group Ltd. has a 1-year low of $13.59 and a 1-year high of $24.22. The company has a market cap of $10,893.51, a price-to-earnings ratio of 23.85, a price-to-earnings-growth ratio of 1.35 and a beta of 1.12.

Marvell Technology Group (NASDAQ:MRVL) last issued its quarterly earnings data on Tuesday, November 28th. The semiconductor company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. Marvell Technology Group had a net margin of 16.53% and a return on equity of 11.99%. The firm had revenue of $616.00 million for the quarter, compared to analyst estimates of $613.49 million. During the same quarter in the previous year, the business posted $0.20 EPS. The firm’s revenue was down 5.8% compared to the same quarter last year. research analysts expect that Marvell Technology Group Ltd. will post 1.01 earnings per share for the current year.

MRVL has been the topic of several recent research reports. B. Riley restated a “buy” rating and set a $23.00 target price on shares of Marvell Technology Group in a report on Friday, September 1st. BMO Capital Markets lifted their target price on shares of Marvell Technology Group to $25.00 and gave the company a “market perform” rating in a report on Monday, November 27th. Jefferies Group set a $19.00 target price on shares of Marvell Technology Group and gave the company a “hold” rating in a report on Wednesday, October 18th. Bank of America upgraded shares of Marvell Technology Group from a “neutral” rating to a “buy” rating in a report on Monday, November 20th. Finally, Needham & Company LLC lifted their target price on shares of Marvell Technology Group from $25.00 to $27.00 and gave the company a “buy” rating in a report on Wednesday, November 29th. Eight analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $23.48.

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Marvell Technology Group 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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