Massey Quick Simon & CO. LLC bought a new stake in Marvell Technology Group Ltd. (NASDAQ:MRVL) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,952 shares of the semiconductor company’s stock, valued at approximately $59,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC lifted its stake in Marvell Technology Group by 48.1% during the fourth quarter. FMR LLC now owns 80,824,523 shares of the semiconductor company’s stock worth $1,308,549,000 after purchasing an additional 26,251,979 shares during the period. Vanguard Group Inc lifted its stake in Marvell Technology Group by 45.0% during the third quarter. Vanguard Group Inc now owns 53,229,098 shares of the semiconductor company’s stock worth $1,027,321,000 after purchasing an additional 16,517,490 shares during the period. BlackRock Inc. lifted its stake in Marvell Technology Group by 9.7% during the fourth quarter. BlackRock Inc. now owns 35,692,591 shares of the semiconductor company’s stock worth $577,863,000 after purchasing an additional 3,150,773 shares during the period. Boston Partners lifted its stake in Marvell Technology Group by 7.2% during the fourth quarter. Boston Partners now owns 15,313,740 shares of the semiconductor company’s stock worth $247,930,000 after purchasing an additional 1,030,464 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in Marvell Technology Group by 11.4% during the third quarter. Bank of New York Mellon Corp now owns 7,356,470 shares of the semiconductor company’s stock worth $141,980,000 after purchasing an additional 751,488 shares during the period. Institutional investors and hedge funds own 96.70% of the company’s stock.
Several research firms have recently weighed in on MRVL. BidaskClub raised shares of Marvell Technology Group from a “sell” rating to a “hold” rating in a report on Friday, December 28th. ValuEngine raised shares of Marvell Technology Group from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Needham & Company LLC reissued a “buy” rating and issued a $25.00 price target on shares of Marvell Technology Group in a report on Monday, January 14th. Zacks Investment Research lowered shares of Marvell Technology Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 5th. Finally, Cowen reissued an “outperform” rating and issued a $22.00 price target (up previously from $21.00) on shares of Marvell Technology Group in a report on Monday, March 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eighteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $24.71.
Shares of MRVL stock opened at $24.01 on Wednesday. Marvell Technology Group Ltd. has a 52-week low of $14.34 and a 52-week high of $24.19. The company has a market capitalization of $15.63 billion, a price-to-earnings ratio of 28.25, a price-to-earnings-growth ratio of 5.40 and a beta of 1.01. The company has a current ratio of 2.19, a quick ratio of 1.76 and a debt-to-equity ratio of 0.24.
Marvell Technology Group (NASDAQ:MRVL) last announced its quarterly earnings data on Thursday, March 7th. The semiconductor company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.02). Marvell Technology Group had a negative net margin of 6.25% and a positive return on equity of 7.95%. The business had revenue of $744.80 million during the quarter, compared to the consensus estimate of $739.88 million. During the same period in the previous year, the business posted $0.32 earnings per share. As a group, equities analysts anticipate that Marvell Technology Group Ltd. will post 0.63 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Wednesday, April 3rd will be paid a $0.06 dividend. The ex-dividend date of this dividend is Tuesday, April 2nd. This represents a $0.24 dividend on an annualized basis and a yield of 1.00%. Marvell Technology Group’s payout ratio is presently 28.24%.
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.
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