Natixis Takes $33.07 Million Position in Marvell Technology Group Ltd. (MRVL)

Natixis acquired a new position in shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,574,622 shares of the semiconductor company’s stock, valued at approximately $33,067,000. Natixis owned approximately 0.32% of Marvell Technology Group as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of the business. Swedbank bought a new stake in shares of Marvell Technology Group during the 1st quarter valued at $94,468,000. Two Sigma Advisers LP raised its position in shares of Marvell Technology Group by 152.0% during the 4th quarter. Two Sigma Advisers LP now owns 6,195,002 shares of the semiconductor company’s stock valued at $133,007,000 after acquiring an additional 3,736,310 shares during the last quarter. Frontier Capital Management Co. LLC raised its position in shares of Marvell Technology Group by 107,727.9% during the 1st quarter. Frontier Capital Management Co. LLC now owns 2,821,856 shares of the semiconductor company’s stock valued at $59,259,000 after acquiring an additional 2,819,239 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of Marvell Technology Group during the 1st quarter valued at $40,100,000. Finally, TIAA CREF Investment Management LLC raised its position in shares of Marvell Technology Group by 60.3% during the 4th quarter. TIAA CREF Investment Management LLC now owns 2,493,165 shares of the semiconductor company’s stock valued at $53,528,000 after acquiring an additional 937,925 shares during the last quarter.

In related news, insider Marvell Semiconductor, Inc. Ca sold 1,755 shares of the company’s stock in a transaction on Monday, June 11th. The shares were sold at an average price of $21.55, for a total value of $37,820.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Matthew J. Murphy sold 10,000 shares of the company’s stock in a transaction on Wednesday, April 4th. The stock was sold at an average price of $20.00, for a total transaction of $200,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,065 shares of company stock valued at $738,964. Company insiders own 0.10% of the company’s stock.

Shares of NASDAQ MRVL opened at $22.00 on Thursday. The firm has a market capitalization of $10.68 billion, a P/E ratio of 21.15, a P/E/G ratio of 1.57 and a beta of 1.00. Marvell Technology Group Ltd. has a 1-year low of $14.87 and a 1-year high of $25.18.

Marvell Technology Group (NASDAQ:MRVL) last announced its earnings results on Thursday, May 31st. The semiconductor company reported $0.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.01. The firm had revenue of $604.63 million during the quarter, compared to analyst estimates of $601.85 million. Marvell Technology Group had a net margin of 22.24% and a return on equity of 13.84%. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.24 EPS. analysts predict that Marvell Technology Group Ltd. will post 1.2 earnings per share for the current year.

Several brokerages have commented on MRVL. TheStreet cut shares of Marvell Technology Group from a “b” rating to a “c+” rating in a research report on Thursday, March 8th. Cowen upped their target price on shares of Marvell Technology Group from $21.00 to $29.00 and gave the company an “outperform” rating in a research report on Friday, March 9th. Stifel Nicolaus upped their target price on shares of Marvell Technology Group from $19.00 to $21.00 and gave the company a “hold” rating in a research report on Friday, March 9th. Morgan Stanley restated an “equal weight” rating and issued a $23.00 price objective (up previously from $22.00) on shares of Marvell Technology Group in a research report on Friday, March 9th. Finally, B. Riley restated a “buy” rating and issued a $30.00 price objective (up previously from $29.00) on shares of Marvell Technology Group in a research report on Friday, March 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-two have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $26.02.

Marvell Technology Group Profile

Marvell Technology Group Ltd. designs, develops, and markets analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a range of storage products, including hard disk drive (HDD) and solid-state drive controllers, as well as HDD components, such as HDD preamps components; and develops software-enabled silicon solutions comprising serial advanced technology attachment port multipliers, bridges, serial attached SCSI, and non-volatile memory express redundant array of independent disks controllers and converged storage processors for enterprises, data centers, and cloud computing businesses.

Want to see what other hedge funds are holding MRVL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marvell Technology Group Ltd. (NASDAQ:MRVL).

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

Receive News & Ratings for Marvell Technology Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marvell Technology Group and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit