Axa Acquires 1,678,170 Shares of Marvell Technology Group Ltd. (MRVL)

AXA increased its stake in Marvell Technology Group Ltd. (NASDAQ:MRVL) by 265.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,311,316 shares of the semiconductor company’s stock after buying an additional 1,678,170 shares during the period. AXA owned 0.46% of Marvell Technology Group worth $35,270,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Creative Planning boosted its stake in Marvell Technology Group by 175.3% in the first quarter. Creative Planning now owns 7,158 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 4,558 shares during the period. Envestnet Asset Management Inc. boosted its stake in Marvell Technology Group by 103.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 7,258 shares of the semiconductor company’s stock valued at $102,000 after buying an additional 3,696 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its stake in Marvell Technology Group by 454.8% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,777 shares of the semiconductor company’s stock valued at $122,000 after buying an additional 7,195 shares during the period. James Investment Research Inc. acquired a new stake in Marvell Technology Group during the first quarter valued at about $138,000. Finally, Mn Services Vermogensbeheer B.V. boosted its stake in Marvell Technology Group by 4.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 11,607 shares of the semiconductor company’s stock valued at $166,000 after buying an additional 492 shares during the period. 74.21% of the stock is owned by institutional investors.

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

Shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) traded down 0.46% during trading on Friday, reaching $17.33. The company’s stock had a trading volume of 5,705,387 shares. The stock has a market capitalization of $8.71 billion, a price-to-earnings ratio of 58.55 and a beta of 1.01. Marvell Technology Group Ltd. has a 1-year low of $9.05 and a 1-year high of $17.92. The company’s 50-day moving average price is $16.47 and its 200 day moving average price is $15.42.

Marvell Technology Group (NASDAQ:MRVL) last posted its quarterly earnings results on Thursday, May 25th. The semiconductor company reported $0.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.04. Marvell Technology Group had a net margin of 6.19% and a return on equity of 7.96%. The firm had revenue of $579.18 million during the quarter, compared to analyst estimates of $570.72 million. During the same quarter in the prior year, the business posted $0.01 earnings per share. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. Analysts anticipate that Marvell Technology Group Ltd. will post $1.11 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 21st. Investors of record on Wednesday, July 5th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.38%. Marvell Technology Group’s dividend payout ratio (DPR) is presently 82.76%.

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Several research firms have recently issued reports on MRVL. Cowen and Company raised their price objective on Marvell Technology Group from $20.00 to $21.00 and gave the stock an “outperform” rating in a report on Monday, March 13th. Jefferies Group LLC restated a “hold” rating and set a $18.00 price objective on shares of Marvell Technology Group in a report on Monday, March 13th. Oppenheimer Holdings, Inc. upgraded Marvell Technology Group from a “market perform” rating to an “outperform” rating and set a $18.50 price objective on the stock in a report on Friday, May 26th. B. Riley reiterated a “buy” rating and issued a $21.00 target price on shares of Marvell Technology Group in a report on Monday, March 6th. Finally, Credit Suisse Group reiterated a “buy” rating and issued a $18.00 target price on shares of Marvell Technology Group in a report on Wednesday, March 1st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $17.75.

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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