Caisse DE Depot ET Placement DU Quebec lessened its position in shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) by 20.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 185,100 shares of the semiconductor company’s stock after selling 47,200 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in Marvell Technology Group were worth $3,974,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in MRVL. Delpha Capital Management LLC acquired a new stake in shares of Marvell Technology Group during the 4th quarter worth approximately $112,000. Tower Research Capital LLC TRC grew its position in shares of Marvell Technology Group by 208.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,482 shares of the semiconductor company’s stock worth $118,000 after buying an additional 3,704 shares during the period. Massey Quick Simon & CO. LLC acquired a new stake in shares of Marvell Technology Group during the 3rd quarter worth approximately $124,000. American International Group Inc. acquired a new stake in shares of Marvell Technology Group during the 4th quarter worth approximately $181,000. Finally, Boothbay Fund Management LLC acquired a new stake in shares of Marvell Technology Group during the 3rd quarter worth approximately $203,000. 90.92% of the stock is owned by institutional investors and hedge funds.
Marvell Technology Group Ltd. (NASDAQ MRVL) opened at $24.34 on Monday. Marvell Technology Group Ltd. has a twelve month low of $14.58 and a twelve month high of $25.18. The stock has a market capitalization of $12,070.00, a price-to-earnings ratio of 42.70, a P/E/G ratio of 1.29 and a beta of 0.91.
In other Marvell Technology Group news, insider Marvell Semiconductor, Inc. Ca sold 1,512 shares of the firm’s stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $23.86, for a total transaction of $36,076.32. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Michael G. Strachan sold 20,000 shares of the firm’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $23.65, for a total value of $473,000.00. Following the transaction, the director now owns 19,702 shares in the company, valued at $465,952.30. The disclosure for this sale can be found here. 6.80% of the stock is currently owned by company insiders.
Several analysts have recently commented on the stock. TheStreet downgraded shares of Marvell Technology Group from a “b” rating to a “c+” rating in a research report on Thursday. Cowen raised their price objective on shares of Marvell Technology Group from $21.00 to $29.00 and gave the stock an “outperform” rating in a research report on Friday. Stifel Nicolaus raised their price objective on shares of Marvell Technology Group from $19.00 to $21.00 and gave the stock a “hold” rating in a research report on Friday. Morgan Stanley reaffirmed an “equal weight” rating and set a $23.00 price objective (up previously from $22.00) on shares of Marvell Technology Group in a research report on Friday. Finally, Argus assumed coverage on shares of Marvell Technology Group in a research report on Wednesday, March 7th. They set a “buy” rating and a $28.00 price objective for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. Marvell Technology Group has a consensus rating of “Buy” and a consensus price target of $24.74.
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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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