Robeco Institutional Asset Management B.V. Acquires 12,627 Shares of Marvell Technology Group Ltd. (MRVL)

Robeco Institutional Asset Management B.V. raised its holdings in shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) by 1.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 775,132 shares of the semiconductor company’s stock after buying an additional 12,627 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.12% of Marvell Technology Group worth $14,962,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in MRVL. Guggenheim Capital LLC lifted its position in shares of Marvell Technology Group by 39.2% during the first quarter. Guggenheim Capital LLC now owns 113,769 shares of the semiconductor company’s stock worth $2,389,000 after purchasing an additional 32,060 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Marvell Technology Group by 71.5% during the first quarter. Royal Bank of Canada now owns 285,846 shares of the semiconductor company’s stock worth $6,002,000 after purchasing an additional 119,178 shares in the last quarter. Suntrust Banks Inc. acquired a new position in shares of Marvell Technology Group during the first quarter worth $271,000. CenturyLink Investment Management Co lifted its position in shares of Marvell Technology Group by 28.6% during the second quarter. CenturyLink Investment Management Co now owns 69,782 shares of the semiconductor company’s stock worth $1,496,000 after purchasing an additional 15,530 shares in the last quarter. Finally, Gulf International Bank UK Ltd lifted its position in shares of Marvell Technology Group by 4.0% during the second quarter. Gulf International Bank UK Ltd now owns 142,513 shares of the semiconductor company’s stock worth $3,055,000 after purchasing an additional 5,500 shares in the last quarter. 81.96% of the stock is currently owned by hedge funds and other institutional investors.

MRVL opened at $16.41 on Thursday. The firm has a market capitalization of $10.62 billion, a P/E ratio of 15.51, a P/E/G ratio of 1.93 and a beta of 0.96. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.76 and a current ratio of 2.54. Marvell Technology Group Ltd. has a 12-month low of $15.31 and a 12-month high of $25.18.

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

Marvell Technology Group announced that its board has authorized a stock repurchase plan on Tuesday, October 16th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the semiconductor company to reacquire up to 7.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 23rd. Investors of record on Tuesday, October 2nd were issued a $0.06 dividend. The ex-dividend date of this dividend was Monday, October 1st. This represents a $0.24 annualized dividend and a yield of 1.46%. Marvell Technology Group’s dividend payout ratio is presently 23.08%.

In related news, CEO Matthew J. Murphy sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $20.64, for a total value of $206,400.00. Following the sale, the chief executive officer now directly owns 1,755 shares of the company’s stock, valued at $36,223.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.10% of the company’s stock.

A number of research analysts have recently commented on MRVL shares. UBS Group reduced their target price on shares of Marvell Technology Group from $38.00 to $33.00 and set a “buy” rating on the stock in a research report on Friday, July 6th. Zacks Investment Research cut shares of Marvell Technology Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 1st. BidaskClub cut shares of Marvell Technology Group from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 2nd. ValuEngine cut shares of Marvell Technology Group from a “buy” rating to a “hold” rating in a research report on Tuesday, August 14th. Finally, Cowen reduced their target price on shares of 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. One analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $25.56.

Marvell Technology Group 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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