28,187 Shares in Marvell Technology Group Ltd. (MRVL) Purchased by USA Financial Portformulas Corp

USA Financial Portformulas Corp acquired a new position in Marvell Technology Group Ltd. (NASDAQ:MRVL) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 28,187 shares of the semiconductor company’s stock, valued at approximately $466,000.

Several other institutional investors also recently bought and sold shares of MRVL. BlackRock Inc. lifted its stake in shares of Marvell Technology Group by 4,078.2% in the first quarter. BlackRock Inc. now owns 24,309,056 shares of the semiconductor company’s stock worth $370,955,000 after acquiring an additional 23,727,243 shares during the period. Boston Partners acquired a new position in shares of Marvell Technology Group in the second quarter worth approximately $133,179,000. Renaissance Technologies LLC lifted its stake in shares of Marvell Technology Group by 239.6% in the second quarter. Renaissance Technologies LLC now owns 3,886,158 shares of the semiconductor company’s stock worth $64,199,000 after acquiring an additional 2,741,914 shares during the period. Jennison Associates LLC acquired a new position in shares of Marvell Technology Group in the second quarter worth approximately $36,663,000. Finally, TimesSquare Capital Management LLC lifted its stake in shares of Marvell Technology Group by 60.2% in the second quarter. TimesSquare Capital Management LLC now owns 4,461,600 shares of the semiconductor company’s stock worth $73,706,000 after acquiring an additional 1,677,100 shares during the period. 76.61% of the stock is currently owned by institutional investors.

Marvell Technology Group Ltd. (NASDAQ MRVL) traded down 0.678% during mid-day trading on Thursday, hitting $18.325. The company’s stock had a trading volume of 269,251 shares. The stock has a market cap of $9.09 billion, a P/E ratio of 35.514 and a beta of 1.13. Marvell Technology Group Ltd. has a 52-week low of $12.30 and a 52-week high of $18.72. The company’s 50 day moving average is $18.05 and its 200-day moving average is $16.59.

Marvell Technology Group (NASDAQ:MRVL) last announced its quarterly earnings data on Thursday, August 24th. The semiconductor company reported $0.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.03). Marvell Technology Group had a net margin of 10.97% and a return on equity of 9.99%. The business had revenue of $604.75 million during the quarter, compared to analysts’ expectations of $600.76 million. During the same quarter in the previous year, the firm earned $0.18 earnings per share. Marvell Technology Group’s revenue was up 16.4% on a year-over-year basis. On average, equities analysts predict that Marvell Technology Group Ltd. will post $1.13 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 26th. Stockholders of record on Tuesday, October 10th will be given a $0.06 dividend. The ex-dividend date is Friday, October 6th. This represents a $0.24 annualized dividend and a dividend yield of 1.30%. Marvell Technology Group’s payout ratio is 47.06%.

Several equities analysts have issued reports on MRVL shares. B. Riley reissued a “buy” rating and issued a $23.00 price target on shares of Marvell Technology Group in a research note on Friday, September 1st. Jefferies Group LLC set a $19.00 price target on Marvell Technology Group and gave the company a “hold” rating in a research note on Wednesday. BidaskClub lowered Marvell Technology Group from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. KeyCorp boosted their price target on Marvell Technology Group from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Friday, August 25th. Finally, Oppenheimer Holdings, Inc. reissued a “buy” rating and issued a $23.00 price target on shares of Marvell Technology Group in a research note on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $19.34.

COPYRIGHT VIOLATION NOTICE: This report was originally reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this report on another domain, it was copied illegally and republished in violation of US & international trademark and copyright laws. The legal version of this report can be accessed at https://ledgergazette.com/2017/10/19/28187-shares-in-marvell-technology-group-ltd-mrvl-purchased-by-usa-financial-portformulas-corp.html.

In other news, major shareholder Sehat Sutardja sold 537,235 shares of the business’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $17.57, for a total value of $9,439,218.95. The sale was disclosed in a filing with the SEC, which can be accessed through NASDAQ MRVL) traded down 0.678% during mid-day trading on Thursday, hitting $18.325. The company’s stock had a trading volume of 269,251 shares. The stock has a market cap of $9.09 billion, a P/E ratio of 35.514 and a beta of 1.13. Marvell Technology Group Ltd. has a 52-week low of $12.30 and a 52-week high of $18.72. The company’s 50 day moving average is $18.05 and its 200-day moving average is $16.59.

Marvell Technology Group (NASDAQ:MRVL) last announced its quarterly earnings data on Thursday, August 24th. The semiconductor company reported $0.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.03). Marvell Technology Group had a net margin of 10.97% and a return on equity of 9.99%. The business had revenue of $604.75 million during the quarter, compared to analysts’ expectations of $600.76 million. During the same quarter in the previous year, the firm earned $0.18 earnings per share. Marvell Technology Group’s revenue was up 16.4% on a year-over-year basis. On average, equities analysts predict that Marvell Technology Group Ltd. will post $1.13 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 26th. Stockholders of record on Tuesday, October 10th will be given a $0.06 dividend. The ex-dividend date is Friday, October 6th. This represents a $0.24 annualized dividend and a dividend yield of 1.30%. Marvell Technology Group’s payout ratio is 47.06%.

Several equities analysts have issued reports on MRVL shares. B. Riley reissued a “buy” rating and issued a $23.00 price target on shares of Marvell Technology Group in a research note on Friday, September 1st. Jefferies Group LLC set a $19.00 price target on Marvell Technology Group and gave the company a “hold” rating in a research note on Wednesday. BidaskClub lowered Marvell Technology Group from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. KeyCorp boosted their price target on Marvell Technology Group from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Friday, August 25th. Finally, Oppenheimer Holdings, Inc. reissued a “buy” rating and issued a $23.00 price target on shares of Marvell Technology Group in a research note on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $19.34.

COPYRIGHT VIOLATION NOTICE: This report was originally reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this report on another domain, it was copied illegally and republished in violation of US & international trademark and copyright laws. The legal version of this report can be accessed at https://ledgergazette.com/2017/10/19/28187-shares-in-marvell-technology-group-ltd-mrvl-purchased-by-usa-financial-portformulas-corp.html.

In other news, major shareholder Sehat Sutardja sold 537,235 shares of the business’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $17.57, for a total value of $9,439,218.95. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders sold 15,754,429 shares of company stock worth $287,418,990 over the last 90 days. Company insiders own 6.80% of the company’s stock.

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.

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

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

Leave a Reply