Redpoint Investment Management Pty Ltd Takes $181,000 Position in Marvell Technology Group Ltd. (MRVL)

Redpoint Investment Management Pty Ltd bought a new position in Marvell Technology Group Ltd. (NASDAQ:MRVL) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 11,172 shares of the semiconductor company’s stock, valued at approximately $181,000.

Several other institutional investors have also bought and sold shares of MRVL. Thompson Investment Management Inc. lifted its position in shares of Marvell Technology Group by 27.5% in the 4th quarter. Thompson Investment Management Inc. now owns 31,804 shares of the semiconductor company’s stock worth $515,000 after purchasing an additional 6,850 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Marvell Technology Group by 15.2% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 25,700 shares of the semiconductor company’s stock worth $416,000 after purchasing an additional 3,400 shares during the period. Montag & Caldwell LLC purchased a new stake in shares of Marvell Technology Group in the 4th quarter worth approximately $314,000. Washington Capital Management Inc. purchased a new stake in shares of Marvell Technology Group in the 4th quarter worth approximately $421,000. Finally, TD Asset Management Inc. lifted its position in shares of Marvell Technology Group by 32.0% in the 4th quarter. TD Asset Management Inc. now owns 3,191,326 shares of the semiconductor company’s stock worth $51,667,000 after purchasing an additional 773,655 shares during the period. Hedge funds and other institutional investors own 95.29% of the company’s stock.

NASDAQ MRVL opened at $18.83 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.32 and a quick ratio of 1.74. The company has a market cap of $12.38 billion, a P/E ratio of 18.11, a PEG ratio of 1.78 and a beta of 0.98. Marvell Technology Group Ltd. has a 52 week low of $14.34 and a 52 week high of $25.18.

Marvell Technology Group (NASDAQ:MRVL) last posted its quarterly earnings data on Tuesday, December 4th. The semiconductor company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.32 by $0.01. The firm had revenue of $851.05 million during the quarter, compared to analyst estimates of $844.07 million. Marvell Technology Group had a net margin of 4.76% and a return on equity of 9.45%. Marvell Technology Group’s revenue was up 38.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.34 EPS. Research analysts forecast that Marvell Technology Group Ltd. will post 0.88 earnings per share for the current fiscal year.

In related news, Director Michael G. Strachan purchased 10,000 shares of the business’s stock in a transaction on Thursday, December 20th. The shares were acquired at an average price of $14.85 per share, for a total transaction of $148,500.00. Following the purchase, the director now owns 32,338 shares of the company’s stock, valued at approximately $480,219.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jean X. Hu purchased 15,000 shares of the business’s stock in a transaction on Wednesday, December 26th. The shares were bought at an average price of $14.67 per share, for a total transaction of $220,050.00. Following the purchase, the chief financial officer now directly owns 51,077 shares in the company, valued at approximately $749,299.59. The disclosure for this purchase can be found here. Insiders own 0.10% of the company’s stock.

Several brokerages have recently weighed in on MRVL. BidaskClub cut shares of Marvell Technology Group from a “hold” rating to a “sell” rating in a research report on Saturday, October 27th. UBS Group lowered their price target on shares of Marvell Technology Group from $30.00 to $25.00 and set an “in-line” rating for the company in a research report on Thursday, December 6th. TheStreet cut shares of Marvell Technology Group from a “b” rating to a “c+” rating in a research report on Friday, October 26th. Zacks Investment Research reaffirmed a “buy” rating and issued a $19.00 price target on shares of Marvell Technology Group in a research report on Wednesday, November 14th. Finally, Barclays lowered their price target on shares of Marvell Technology Group from $30.00 to $25.00 and set an “overweight” rating for the company in a research report on Tuesday, October 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company. Marvell Technology Group presently has an average rating of “Buy” and an average price target of $24.76.

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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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