Marvell Technology Group Ltd. (MRVL) Position Raised by Frontier Capital Management Co. LLC

Frontier Capital Management Co. LLC boosted its position in Marvell Technology Group Ltd. (NASDAQ:MRVL) by 14.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,188,283 shares of the semiconductor company’s stock after buying an additional 655,858 shares during the quarter. Frontier Capital Management Co. LLC owned approximately 0.79% of Marvell Technology Group worth $100,134,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Arizona State Retirement System acquired a new stake in Marvell Technology Group during the 3rd quarter worth approximately $3,136,000. Public Employees Retirement Association of Colorado raised its holdings in shares of Marvell Technology Group by 39.4% during the 3rd quarter. Public Employees Retirement Association of Colorado now owns 104,104 shares of the semiconductor company’s stock worth $2,009,000 after buying an additional 29,412 shares in the last quarter. NN Investment Partners Holdings N.V. raised its holdings in shares of Marvell Technology Group by 70.6% during the 3rd quarter. NN Investment Partners Holdings N.V. now owns 88,200 shares of the semiconductor company’s stock worth $1,703,000 after buying an additional 36,492 shares in the last quarter. Clear Harbor Asset Management LLC acquired a new position in shares of Marvell Technology Group during the 3rd quarter worth $449,000. Finally, Oppenheimer & Co. Inc. raised its holdings in shares of Marvell Technology Group by 59.3% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 345,578 shares of the semiconductor company’s stock worth $6,670,000 after buying an additional 128,680 shares in the last quarter. 90.25% of the stock is currently owned by institutional investors and hedge funds.

In other Marvell Technology Group news, CEO Matthew J. Murphy sold 10,000 shares of the stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $20.64, for a total transaction of $206,400.00. Following the completion of the transaction, the chief executive officer now directly owns 1,755 shares of the company’s stock, valued at $36,223.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.10% of the company’s stock.

A number of brokerages recently weighed in on MRVL. BidaskClub lowered Marvell Technology Group from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 2nd. Cowen reduced their price target on Marvell Technology Group from $29.00 to $26.00 and set an “outperform” rating on the stock in a research report on Monday, August 27th. ValuEngine lowered Marvell Technology Group from a “buy” rating to a “hold” rating in a research report on Tuesday, August 14th. Stifel Nicolaus upgraded Marvell Technology Group from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research report on Friday, October 12th. Finally, B. Riley cut their target price on Marvell Technology Group from $30.00 to $26.00 and set a “buy” rating on the stock in a research report on Wednesday, October 10th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and twenty have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $25.41.

Shares of Marvell Technology Group stock traded up $0.45 on Thursday, hitting $15.67. The company had a trading volume of 5,389,327 shares, compared to its average volume of 11,112,788. The company has a market cap of $10.02 billion, a PE ratio of 15.07, a price-to-earnings-growth ratio of 1.81 and a beta of 1.09. Marvell Technology Group Ltd. has a 1 year low of $14.69 and a 1 year high of $25.18. The company has a quick ratio of 1.76, a current ratio of 2.54 and a debt-to-equity ratio of 0.25.

Marvell Technology Group (NASDAQ:MRVL) last issued its quarterly earnings results on Thursday, September 6th. The semiconductor company reported $0.28 EPS for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.01). The business had revenue of $665.31 million for the quarter, compared to analysts’ expectations of $685.00 million. Marvell Technology Group had a net margin of 15.36% and a return on equity of 10.70%. The business’s revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.30 earnings per share. As a group, research analysts anticipate that Marvell Technology Group Ltd. will post 0.86 EPS for the current year.

Marvell Technology Group declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, October 16th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the semiconductor company to purchase up to 7.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 23rd. Investors of record on Tuesday, October 2nd were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date was Monday, October 1st. Marvell Technology Group’s payout ratio is 23.08%.

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

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