Victory Capital Management Inc. Has $80.56 Million Holdings in Marvell Technology Group Ltd. (MRVL)

Victory Capital Management Inc. raised its position in shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) by 7.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,752,163 shares of the semiconductor company’s stock after acquiring an additional 273,809 shares during the period. Victory Capital Management Inc.’s holdings in Marvell Technology Group were worth $80,559,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Prudential Financial Inc. raised its position in shares of Marvell Technology Group by 6.1% during the 2nd quarter. Prudential Financial Inc. now owns 29,640 shares of the semiconductor company’s stock worth $490,000 after buying an additional 1,700 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Marvell Technology Group by 21.3% during the 2nd quarter. Principal Financial Group Inc. now owns 46,352 shares of the semiconductor company’s stock worth $766,000 after buying an additional 8,136 shares in the last quarter. D.A. Davidson & CO. raised its position in shares of Marvell Technology Group by 10.2% during the 2nd quarter. D.A. Davidson & CO. now owns 6,461 shares of the semiconductor company’s stock worth $106,000 after buying an additional 600 shares in the last quarter. M&T Bank Corp raised its position in shares of Marvell Technology Group by 1.3% during the 2nd quarter. M&T Bank Corp now owns 30,943 shares of the semiconductor company’s stock worth $512,000 after buying an additional 402 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its position in shares of Marvell Technology Group by 6.6% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 903,409 shares of the semiconductor company’s stock worth $14,924,000 after buying an additional 56,087 shares in the last quarter. 78.91% of the stock is owned by hedge funds and other institutional investors.

In other news, Director Michael G. Strachan sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $23.65, for a total transaction of $473,000.00. Following the sale, the director now owns 19,702 shares in the company, valued at $465,952.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Marvell Semiconductor, Inc. Ca sold 1,512 shares of the business’s stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $23.86, for a total transaction of $36,076.32. The disclosure for this sale can be found here. Insiders have sold 31,324 shares of company stock worth $717,091 in the last 90 days. 6.80% of the stock is owned by company insiders.

A number of analysts have commented on the stock. ValuEngine upgraded shares of Marvell Technology Group from a “hold” rating to a “buy” rating in a research report on Friday. Zacks Investment Research upgraded shares of Marvell Technology Group from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research report on Tuesday, November 21st. Craig Hallum restated a “buy” rating on shares of Marvell Technology Group in a research report on Tuesday, November 21st. Needham & Company LLC boosted their price target on shares of Marvell Technology Group from $25.00 to $27.00 and gave the stock a “buy” rating in a research report on Wednesday, November 29th. Finally, Loop Capital restated a “buy” rating and set a $28.00 price target on shares of Marvell Technology Group in a research report on Wednesday, November 29th. Eight research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $23.92.

Shares of Marvell Technology Group Ltd. (NASDAQ MRVL) opened at $22.43 on Friday. Marvell Technology Group Ltd. has a 1-year low of $14.58 and a 1-year high of $24.22. The stock has a market cap of $11,017.62, a P/E ratio of 24.12, a PEG ratio of 1.18 and a beta of 0.95.

Marvell Technology Group (NASDAQ:MRVL) last released its quarterly earnings results on Tuesday, November 28th. The semiconductor company reported $0.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.01. Marvell Technology Group had a net margin of 16.53% and a return on equity of 11.93%. The business 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 earned $0.20 earnings per share. The firm’s revenue was down 5.8% compared to the same quarter last year. equities research analysts forecast that Marvell Technology Group Ltd. will post 1.01 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Wednesday, December 27th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Tuesday, December 26th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.07%. Marvell Technology Group’s dividend payout ratio is currently 31.17%.

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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.

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

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