TCW Group Inc. lowered its stake in shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) by 48.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,799 shares of the semiconductor company’s stock after selling 69,052 shares during the period. TCW Group Inc.’s holdings in Marvell Technology Group were worth $1,321,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently added to or reduced their stakes in MRVL. Boston Partners bought a new stake in shares of Marvell Technology Group during the second quarter valued at approximately $133,179,000. Renaissance Technologies LLC increased its position in 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 purchasing an additional 2,741,914 shares during the last quarter. Jennison Associates LLC bought a new stake in Marvell Technology Group in the second quarter worth $36,663,000. TimesSquare Capital Management LLC increased its position in 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 purchasing an additional 1,677,100 shares during the last quarter. Finally, TD Asset Management Inc. increased its position in Marvell Technology Group by 3,936.5% in the second quarter. TD Asset Management Inc. now owns 1,074,119 shares of the semiconductor company’s stock worth $17,744,000 after purchasing an additional 1,047,509 shares during the last quarter. Hedge funds and other institutional investors own 76.67% of the company’s stock.
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Marvell Technology Group Ltd. (MRVL) traded up $0.03 during mid-day trading on Friday, hitting $20.29. The company had a trading volume of 4,996,326 shares, compared to its average volume of 6,143,901. The company has a market capitalization of $10,040.00, a P/E ratio of 25.80, a P/E/G ratio of 1.38 and a beta of 1.05. Marvell Technology Group Ltd. has a 12-month low of $13.59 and a 12-month high of $21.08.
Marvell Technology Group (NASDAQ:MRVL) last released its quarterly earnings data on Thursday, August 24th. The semiconductor company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.03). The firm had revenue of $604.75 million during the quarter, compared to the consensus estimate of $600.76 million. Marvell Technology Group had a net margin of 10.97% and a return on equity of 9.99%. The business’s revenue was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.18 earnings per share. sell-side analysts forecast that Marvell Technology Group Ltd. will post 0.97 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, October 26th. Shareholders of record on Tuesday, October 10th were issued a $0.06 dividend. The ex-dividend date of this dividend was Friday, October 6th. This represents a $0.24 dividend on an annualized basis and a yield of 1.18%. Marvell Technology Group’s dividend payout ratio is presently 54.55%.
Several brokerages recently weighed in on MRVL. B. Riley restated a “buy” rating and issued a $23.00 price target on shares of Marvell Technology Group in a research report on Friday, September 1st. BidaskClub upgraded shares of Marvell Technology Group from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 16th. KeyCorp boosted their price target on shares of Marvell Technology Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Friday, August 25th. Cowen and Company restated a “buy” rating and issued a $21.00 price target on shares of Marvell Technology Group in a research report on Monday, August 21st. Finally, Needham & Company LLC restated a “buy” rating and issued a $21.00 price target on shares of Marvell Technology Group in a research report on Thursday, August 24th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Marvell Technology Group has a consensus rating of “Buy” and a consensus target price of $19.29.
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.
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