Public Employees Retirement Association of Colorado Acquires 2,388 Shares of Marvell Technology Group Ltd. (MRVL)

Public Employees Retirement Association of Colorado raised its position in shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) by 3.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 82,258 shares of the semiconductor company’s stock after purchasing an additional 2,388 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Marvell Technology Group were worth $1,766,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Stifel Financial Corp lifted its holdings in shares of Marvell Technology Group by 22.6% in the second quarter. Stifel Financial Corp now owns 20,648 shares of the semiconductor company’s stock worth $343,000 after buying an additional 3,811 shares in the last quarter. Royal Bank of Canada raised its stake in Marvell Technology Group by 40.1% during the second quarter. Royal Bank of Canada now owns 143,179 shares of the semiconductor company’s stock valued at $2,366,000 after purchasing an additional 40,971 shares in the last quarter. Janus Henderson Group PLC raised its stake in Marvell Technology Group by 1,243.4% during the second quarter. Janus Henderson Group PLC now owns 840,174 shares of the semiconductor company’s stock valued at $13,879,000 after purchasing an additional 777,635 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in Marvell Technology Group during the second quarter valued at $291,000. Finally, Nomura Holdings Inc. purchased a new stake in Marvell Technology Group during the second quarter valued at $539,000. 77.72% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms recently issued reports on MRVL. Citigroup raised shares of Marvell Technology Group from a “sell” rating to a “neutral” rating and set a $22.00 price target on the stock in a research note on Tuesday, November 7th. B. Riley reaffirmed a “buy” rating and set a $24.00 price target on shares of Marvell Technology Group in a research note on Monday, November 20th. Benchmark raised shares of Marvell Technology Group from a “hold” rating to a “buy” rating and upped their price target for the company from $17.00 to $30.00 in a research note on Monday, November 20th. Zacks Investment Research raised shares of Marvell Technology Group from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research note on Tuesday, November 21st. Finally, Piper Jaffray Companies started coverage on shares of Marvell Technology Group in a research note on Monday, December 18th. They set an “overweight” rating and a $25.00 price target on the stock. Eight analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $23.92.

In other Marvell Technology Group news, insider Marvell Semiconductor, Inc. Ca sold 9,812 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $21.20, for a total transaction of $208,014.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael G. Strachan sold 20,000 shares of the stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $23.65, for a total transaction of $473,000.00. Following the sale, the director now directly owns 19,702 shares of the company’s stock, valued at $465,952.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,324 shares of company stock worth $717,091. 6.80% of the stock is owned by company insiders.

Marvell Technology Group Ltd. (NASDAQ MRVL) opened at $22.68 on Friday. Marvell Technology Group Ltd. has a 1-year low of $14.58 and a 1-year high of $24.22. The stock has a market cap of $11,276.99, a PE ratio of 24.45, a price-to-earnings-growth ratio of 1.20 and a beta of 0.95.

Marvell Technology Group (NASDAQ:MRVL) last issued its earnings results on Tuesday, November 28th. The semiconductor company reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.01. Marvell Technology Group had a net margin of 16.53% and a return on equity of 11.93%. The company had revenue of $616.00 million for the quarter, compared to analysts’ expectations of $613.49 million. During the same period in the prior year, the business earned $0.20 EPS. The firm’s quarterly revenue was down 5.8% on a year-over-year basis. equities analysts expect that Marvell Technology Group Ltd. will post 1.01 EPS for the current year.

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Marvell Technology Group 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.

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

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