Dynamic Technology Lab Private Ltd Has $1.41 Million Stake in Marvell Technology Group Ltd. (MRVL)

Dynamic Technology Lab Private Ltd lifted its holdings in shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) by 323.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 85,560 shares of the semiconductor company’s stock after acquiring an additional 65,357 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Marvell Technology Group were worth $1,413,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Marvell Technology Group by 0.9% during the second quarter. Vanguard Group Inc. now owns 32,190,297 shares of the semiconductor company’s stock worth $531,785,000 after acquiring an additional 290,339 shares during the last quarter. BlackRock Inc. increased its position in shares of Marvell Technology Group by 4,078.2% during the first quarter. BlackRock Inc. now owns 24,309,056 shares of the semiconductor company’s stock worth $370,955,000 after acquiring an additional 23,727,243 shares during the last quarter. State Street Corp increased its position in shares of Marvell Technology Group by 3.6% during the first quarter. State Street Corp now owns 9,846,772 shares of the semiconductor company’s stock worth $150,267,000 after acquiring an additional 341,686 shares during the last quarter. Contour Asset Management LLC increased its position in shares of Marvell Technology Group by 11.5% during the second quarter. Contour Asset Management LLC now owns 9,192,978 shares of the semiconductor company’s stock worth $151,868,000 after acquiring an additional 944,622 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its position in shares of Marvell Technology Group by 2.3% during the second quarter. UBS Asset Management Americas Inc. now owns 8,901,332 shares of the semiconductor company’s stock worth $147,050,000 after acquiring an additional 195,985 shares during the last quarter. 76.61% of the stock is currently owned by institutional investors and hedge funds.

In other Marvell Technology Group news, major shareholder Sehat Sutardja sold 537,235 shares of Marvell Technology Group stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $17.57, for a total value of $9,439,218.95. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 15,754,429 shares of company stock worth $287,418,990 over the last quarter. Company insiders own 6.80% of the company’s stock.

A number of analysts have recently issued reports on MRVL shares. B. Riley reaffirmed a “buy” rating and set a $23.00 target price on shares of Marvell Technology Group in a research report on Sunday, June 18th. Pacific Crest raised Marvell Technology Group from a “sector weight” rating to an “overweight” rating and set a $22.00 target price on the stock in a research report on Tuesday, June 20th. Cowen and Company reaffirmed an “outperform” rating and set a $21.00 target price on shares of Marvell Technology Group in a research report on Wednesday, June 21st. MKM Partners reaffirmed a “buy” rating and set a $20.00 target price on shares of Marvell Technology Group in a research report on Tuesday, July 4th. Finally, BidaskClub lowered Marvell Technology Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $19.31.

Marvell Technology Group Ltd. (NASDAQ:MRVL) traded down 0.05% during trading on Friday, hitting $18.28. 3,585,668 shares of the stock were exchanged. The firm has a market capitalization of $9.06 billion, a PE ratio of 35.43 and a beta of 1.13. Marvell Technology Group Ltd. has a 12-month low of $12.30 and a 12-month high of $18.72. The stock has a 50 day moving average price of $17.94 and a 200-day moving average price of $16.53.

Marvell Technology Group (NASDAQ:MRVL) last issued its quarterly earnings data on Thursday, August 24th. The semiconductor company reported $0.25 EPS 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 company had revenue of $604.75 million for the quarter, compared to analyst estimates of $600.76 million. During the same quarter in the previous year, the business earned $0.18 earnings per share. The company’s revenue was up 16.4% on a year-over-year basis. On average, equities research analysts anticipate that Marvell Technology Group Ltd. will post $1.13 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 26th. Shareholders of record on Tuesday, October 10th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, October 6th. This represents a $0.24 annualized dividend and a yield of 1.31%. Marvell Technology Group’s payout ratio is currently 47.06%.

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About Marvell Technology Group

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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