KBC Group NV lifted its holdings in Marvell Technology Group Ltd. (NASDAQ:MRVL) by 30.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 415,258 shares of the semiconductor company’s stock after buying an additional 96,649 shares during the quarter. KBC Group NV owned 0.08% of Marvell Technology Group worth $7,433,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the stock. Greenwood Capital Associates LLC boosted its position in Marvell Technology Group by 37.0% during the second quarter. Greenwood Capital Associates LLC now owns 18,900 shares of the semiconductor company’s stock worth $312,000 after purchasing an additional 5,105 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Marvell Technology Group by 9.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 547,334 shares of the semiconductor company’s stock worth $9,042,000 after purchasing an additional 47,648 shares in the last quarter. Jennison Associates LLC purchased a new stake in Marvell Technology Group during the second quarter worth $36,663,000. Teton Advisors Inc. boosted its position in Marvell Technology Group by 14.7% during the third quarter. Teton Advisors Inc. now owns 71,700 shares of the semiconductor company’s stock worth $1,283,000 after purchasing an additional 9,200 shares in the last quarter. Finally, Seven Eight Capital LP boosted its position in Marvell Technology Group by 41.3% during the second quarter. Seven Eight Capital LP now owns 228,974 shares of the semiconductor company’s stock worth $3,783,000 after purchasing an additional 66,900 shares in the last quarter. Hedge funds and other institutional investors own 78.84% of the company’s stock.
MRVL has been the topic of a number of research analyst reports. BidaskClub upgraded Marvell Technology Group from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 16th. Cowen reiterated a “buy” rating and set a $21.00 target price on shares of Marvell Technology Group in a research report on Monday, August 21st. B. Riley reiterated a “buy” rating and set a $23.00 target price on shares of Marvell Technology Group in a research report on Monday, August 21st. Credit Suisse Group reiterated a “buy” rating on shares of Marvell Technology Group in a research report on Wednesday, August 23rd. Finally, Jefferies Group reiterated a “hold” rating and set a $18.50 target price (down from $19.00) on shares of Marvell Technology Group in a research report on Thursday, August 24th. Eight investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. Marvell Technology Group presently has a consensus rating of “Buy” and an average price target of $23.48.
Shares of Marvell Technology Group Ltd. (MRVL) opened at $21.97 on Wednesday. Marvell Technology Group Ltd. has a 12-month low of $13.83 and a 12-month high of $24.22. The stock has a market capitalization of $10,953.76, a price-to-earnings ratio of 23.98, a PEG ratio of 1.35 and a beta of 1.13.
Marvell Technology Group (NASDAQ:MRVL) last issued its quarterly earnings data on Tuesday, November 28th. The semiconductor company reported $0.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.01. The business had revenue of $616.00 million for the quarter, compared to the consensus estimate of $613.49 million. Marvell Technology Group had a return on equity of 11.99% and a net margin of 16.53%. The business’s revenue was down 5.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.20 earnings per share. analysts forecast that Marvell Technology Group Ltd. will post 1.01 EPS for the current fiscal year.
COPYRIGHT VIOLATION WARNING: This story was first reported by Community Financial News and is the property of of Community Financial News. If you are accessing this story on another website, it was illegally stolen and republished in violation of United States and international copyright & trademark laws. The original version of this story can be viewed at https://www.com-unik.info/2017/12/06/kbc-group-nv-has-7-43-million-position-in-marvell-technology-group-ltd-mrvl.html.
About Marvell Technology Group
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.
What are top analysts saying about Marvell Technology Group Ltd.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Marvell Technology Group Ltd. and related companies.