Marvell Technology Group Ltd. (MRVL) Shares Bought by Paradigm Capital Management Inc. NY

Paradigm Capital Management Inc. NY boosted its stake in shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) by 5.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 107,725 shares of the semiconductor company’s stock after acquiring an additional 5,200 shares during the quarter. Paradigm Capital Management Inc. NY’s holdings in Marvell Technology Group were worth $1,779,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of MRVL. Tower Research Capital LLC TRC grew its holdings in Marvell Technology Group by 1,740.4% during the 1st quarter. Tower Research Capital LLC TRC now owns 7,969 shares of the semiconductor company’s stock worth $122,000 after acquiring an additional 7,536 shares during the last quarter. United Capital Financial Advisers LLC bought a new stake in Marvell Technology Group during the 1st quarter worth about $165,000. Creative Planning grew its holdings in Marvell Technology Group by 39.8% during the 2nd quarter. Creative Planning now owns 10,008 shares of the semiconductor company’s stock worth $165,000 after acquiring an additional 2,850 shares during the last quarter. Greenwood Capital Associates LLC grew its holdings in Marvell Technology Group by 2.8% during the 1st quarter. Greenwood Capital Associates LLC now owns 13,795 shares of the semiconductor company’s stock worth $211,000 after acquiring an additional 380 shares during the last quarter. Finally, First Financial Equity Corporation bought a new stake in Marvell Technology Group during the 1st quarter worth about $237,000. 76.67% of the stock is currently owned by hedge funds and other institutional investors.

In other news, major shareholder Sehat Sutardja sold 537,235 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $17.57, for a total transaction of $9,439,218.95. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.80% of the stock is owned by corporate insiders.

MRVL has been the topic of a number of research analyst reports. BMO Capital Markets reissued a “market perform” rating and set a $16.00 price objective on shares of Marvell Technology Group in a report on Monday, August 28th. TheStreet upgraded shares of Marvell Technology Group from a “c” rating to a “b” rating in a research report on Thursday, May 25th. Jefferies Group LLC restated a “hold” rating and set a $18.50 target price (down from $19.00) on shares of Marvell Technology Group in a research report on Thursday, August 24th. Citigroup Inc. upgraded shares of Marvell Technology Group to an “outperform” rating and set a $23.00 target price on the stock in a research report on Friday, May 26th. Finally, CIBC upgraded shares of Marvell Technology Group from a “market perform” rating to an “outperform” rating in a research report on Friday, May 26th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $18.93.

Marvell Technology Group Ltd. (NASDAQ:MRVL) opened at 17.61 on Wednesday. The company has a market capitalization of $8.73 billion, a PE ratio of 34.13 and a beta of 1.10. The stock’s 50 day moving average is $16.27 and its 200 day moving average is $16.16. Marvell Technology Group Ltd. has a 52 week low of $12.25 and a 52 week high of $18.18.

Marvell Technology Group (NASDAQ:MRVL) last issued its earnings results on Thursday, August 24th. The semiconductor company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.03). Marvell Technology Group had a return on equity of 9.99% and a net margin of 10.97%. The firm had revenue of $604.75 million for the quarter, compared to analyst estimates of $600.76 million. During the same period in the previous year, the company earned $0.18 earnings per share. Marvell Technology Group’s revenue for the quarter was up 16.4% compared to the same quarter last year. Analysts predict that Marvell Technology Group Ltd. will post $1.12 EPS for the current fiscal year.

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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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