US Bancorp DE boosted its stake in shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) by 0.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 436,306 shares of the semiconductor company’s stock after buying an additional 2,674 shares during the period. US Bancorp DE’s holdings in Marvell Technology Group were worth $9,368,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Teton Advisors Inc. lifted its holdings 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 buying an additional 9,200 shares during the period. Achmea Investment Management B.V. purchased a new stake in Marvell Technology Group during the second quarter worth $214,000. Nomura Holdings Inc. purchased a new stake in Marvell Technology Group during the second quarter worth $539,000. Caisse DE Depot ET Placement DU Quebec lifted its holdings in Marvell Technology Group by 2.0% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 232,300 shares of the semiconductor company’s stock worth $4,176,000 after buying an additional 4,600 shares during the period. Finally, Oak Associates Ltd. OH lifted its holdings in Marvell Technology Group by 12.3% during the third quarter. Oak Associates Ltd. OH now owns 173,400 shares of the semiconductor company’s stock worth $3,104,000 after buying an additional 19,000 shares during the period. Institutional investors own 78.92% of the company’s stock.
A number of analysts have weighed in on the company. BMO Capital Markets upped their target price on Marvell Technology Group to $25.00 and gave the stock a “market perform” rating in a report on Monday, November 27th. ValuEngine raised Marvell Technology Group from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. B. Riley reaffirmed a “buy” rating and set a $29.00 price target on shares of Marvell Technology Group in a research report on Wednesday, November 29th. Jefferies Group set a $19.00 price target on Marvell Technology Group and gave the stock a “hold” rating in a research report on Wednesday, October 18th. Finally, Bank of America raised Marvell Technology Group from a “neutral” rating to a “buy” rating in a research report on Monday, November 20th. Eight equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $23.92.
Marvell Technology Group (NASDAQ:MRVL) last announced its quarterly earnings results on Tuesday, November 28th. The semiconductor company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.01. The company 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 11.93% and a net margin of 16.53%. The firm’s revenue for the quarter was down 5.8% compared to the same quarter last year. During the same period last year, the firm earned $0.20 EPS. research analysts predict that Marvell Technology Group Ltd. will post 1.01 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Wednesday, December 27th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend was Tuesday, December 26th. Marvell Technology Group’s dividend payout ratio is currently 31.17%.
In other Marvell Technology Group news, Director Michael G. Strachan sold 20,000 shares of the stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $23.65, for a total transaction of $473,000.00. Following the sale, the director now directly owns 19,702 shares of the company’s stock, valued at approximately $465,952.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Marvell Semiconductor, Inc. Ca sold 1,512 shares of the stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $23.86, for a total value of $36,076.32. The disclosure for this sale can be found here. Insiders have sold a total of 31,324 shares of company stock worth $717,091 over the last ninety days. 6.80% of the stock is owned by insiders.
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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