Marvell Technology Group Ltd. (MRVL) Stake Increased by Oak Associates Ltd. OH

Oak Associates Ltd. OH grew its position in shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) by 12.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 173,400 shares of the semiconductor company’s stock after acquiring an additional 19,000 shares during the quarter. Oak Associates Ltd. OH’s holdings in Marvell Technology Group were worth $3,104,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Marvell Technology Group by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 32,190,297 shares of the semiconductor company’s stock worth $531,785,000 after acquiring an additional 290,339 shares during the last quarter. Boston Partners boosted its position in Marvell Technology Group by 51.4% during the 3rd quarter. Boston Partners now owns 12,205,587 shares of the semiconductor company’s stock worth $218,480,000 after acquiring an additional 4,143,929 shares during the last quarter. Contour Asset Management LLC boosted its position in Marvell Technology Group by 11.5% during the 2nd quarter. Contour Asset Management LLC now owns 9,192,978 shares of the semiconductor company’s stock worth $151,868,000 after acquiring an additional 944,622 shares during the last quarter. UBS Asset Management Americas Inc. boosted its position in Marvell Technology Group by 2.3% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 8,901,332 shares of the semiconductor company’s stock worth $147,050,000 after acquiring an additional 195,985 shares during the last quarter. Finally, Wedge Capital Management L L P NC boosted its position in Marvell Technology Group by 6.0% during the 2nd quarter. Wedge Capital Management L L P NC now owns 7,103,219 shares of the semiconductor company’s stock worth $117,345,000 after acquiring an additional 400,723 shares during the last quarter. 76.67% of the stock is owned by hedge funds and other institutional investors.

MRVL has been the subject of a number of recent research reports. BidaskClub downgraded Marvell Technology Group from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Zacks Investment Research downgraded Marvell Technology Group from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Cowen and Company reissued a “buy” rating and issued a $21.00 price objective on shares of Marvell Technology Group in a report on Monday, August 21st. B. Riley reissued a “buy” rating and issued a $23.00 price objective on shares of Marvell Technology Group in a report on Monday, August 21st. Finally, Credit Suisse Group reissued a “buy” rating on shares of Marvell Technology Group in a report on Wednesday, August 23rd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $19.29.

In other Marvell Technology Group news, major shareholder Sehat Sutardja sold 1,266,498 shares of Marvell Technology Group stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $18.55, for a total value of $23,493,537.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last quarter, insiders sold 17,558,035 shares of company stock worth $320,838,284. Company insiders own 6.80% of the company’s stock.

Shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) traded down $0.03 during midday trading on Wednesday, hitting $20.10. The company had a trading volume of 1,624,595 shares, compared to its average volume of 6,160,355. Marvell Technology Group Ltd. has a 52 week low of $13.15 and a 52 week high of $21.08. The company has a market capitalization of $9,980.45, a PE ratio of 25.81, a P/E/G ratio of 1.38 and a beta of 1.05.

Marvell Technology Group (NASDAQ:MRVL) last released its earnings results on Thursday, August 24th. The semiconductor company reported $0.25 earnings per share (EPS) for the quarter, missing the Zacks’ 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 the consensus estimate of $600.76 million. During the same quarter in the prior year, the firm earned $0.18 EPS. The business’s revenue was up 16.4% on a year-over-year basis. sell-side analysts predict that Marvell Technology Group Ltd. will post 0.97 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 26th. Shareholders of record on Tuesday, October 10th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend was Friday, October 6th. Marvell Technology Group’s dividend payout ratio is presently 47.06%.

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

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