Robecosam AG lessened its stake in Marvell Technology Group Ltd. (NASDAQ:MRVL) by 22.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 750,000 shares of the semiconductor company’s stock after selling 220,000 shares during the quarter. Robecosam AG’s holdings in Marvell Technology Group were worth $18,570,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its holdings in shares of Marvell Technology Group by 128.1% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 97,954,732 shares of the semiconductor company’s stock valued at $2,338,179,000 after purchasing an additional 55,005,127 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Marvell Technology Group by 1.1% in the 2nd quarter. Vanguard Group Inc. now owns 56,926,422 shares of the semiconductor company’s stock valued at $1,358,833,000 after purchasing an additional 628,141 shares during the last quarter. Allianz Asset Management GmbH boosted its holdings in shares of Marvell Technology Group by 137.1% in the 2nd quarter. Allianz Asset Management GmbH now owns 9,718,724 shares of the semiconductor company’s stock valued at $231,986,000 after purchasing an additional 5,619,751 shares during the last quarter. Nuveen Asset Management LLC acquired a new position in shares of Marvell Technology Group in the 2nd quarter valued at $212,265,000. Finally, Whale Rock Capital Management LLC acquired a new position in shares of Marvell Technology Group in the 2nd quarter valued at $204,888,000.
In related news, CEO Matthew J. Murphy sold 15,000 shares of Marvell Technology Group stock in a transaction on Monday, August 5th. The shares were sold at an average price of $23.98, for a total transaction of $359,700.00. Following the sale, the chief executive officer now owns 1,755 shares of the company’s stock, valued at approximately $42,084.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Oleg Khaykin sold 20,000 shares of Marvell Technology Group stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $25.71, for a total transaction of $514,200.00. Following the sale, the director now directly owns 23,309 shares in the company, valued at approximately $599,274.39. The disclosure for this sale can be found here. Insiders have sold a total of 250,933 shares of company stock worth $6,285,232 in the last ninety days. 1.10% of the stock is currently owned by insiders.
NASDAQ:MRVL opened at $23.68 on Friday. The company has a current ratio of 3.06, a quick ratio of 2.68 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $15.76 billion, a price-to-earnings ratio of 42.20, a PEG ratio of 11.37 and a beta of 1.19. The firm’s fifty day simple moving average is $24.54 and its 200 day simple moving average is $24.19. Marvell Technology Group Ltd. has a twelve month low of $14.34 and a twelve month high of $27.64.
Marvell Technology Group (NASDAQ:MRVL) last released its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.11. Marvell Technology Group had a negative net margin of 14.42% and a positive return on equity of 5.25%. The firm had revenue of $656.56 million for the quarter, compared to the consensus estimate of $650.29 million. During the same quarter in the previous year, the firm posted $0.28 EPS. The firm’s quarterly revenue was down 1.3% on a year-over-year basis. On average, analysts predict that Marvell Technology Group Ltd. will post 0.34 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 30th. Investors of record on Thursday, October 10th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend is Wednesday, October 9th. Marvell Technology Group’s dividend payout ratio (DPR) is 28.24%.
About Marvell Technology Group
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 preamplifiers; supports a variety of host system interfaces consisting of serial attached SCSI (SAS), serial advanced technology attachment (SATA), peripheral component interconnect express, and non-volatile memory express; and develops software-enabled silicon solutions comprising SATA port multipliers, bridges, SATA, SAS, 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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