Marvell Technology Group Ltd. (NASDAQ:MRVL) Shares Sold by Indie Asset Partners LLC

Indie Asset Partners LLC lowered its position in Marvell Technology Group Ltd. (NASDAQ:MRVL) by 2.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,100 shares of the semiconductor company’s stock after selling 213 shares during the period. Indie Asset Partners LLC’s holdings in Marvell Technology Group were worth $338,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Nippon Life Global Investors Americas Inc. lifted its position in Marvell Technology Group by 141.2% in the fourth quarter. Nippon Life Global Investors Americas Inc. now owns 586,190 shares of the semiconductor company’s stock valued at $27,868,000 after purchasing an additional 343,120 shares during the period. IFM Investors Pty Ltd increased its holdings in Marvell Technology Group by 16.3% in the fourth quarter. IFM Investors Pty Ltd now owns 63,424 shares of the semiconductor company’s stock valued at $3,015,000 after buying an additional 8,910 shares in the last quarter. SlateStone Wealth LLC increased its holdings in Marvell Technology Group by 38.4% in the fourth quarter. SlateStone Wealth LLC now owns 13,330 shares of the semiconductor company’s stock valued at $634,000 after buying an additional 3,700 shares in the last quarter. Creative Financial Designs Inc. ADV increased its holdings in Marvell Technology Group by 93.9% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 1,053 shares of the semiconductor company’s stock valued at $50,000 after buying an additional 510 shares in the last quarter. Finally, McCarthy Asset Management Inc. purchased a new position in Marvell Technology Group in the fourth quarter valued at about $258,000. Hedge funds and other institutional investors own 87.32% of the company’s stock.

Marvell Technology Group stock traded down $1.53 during midday trading on Tuesday, hitting $48.16. 786,457 shares of the stock were exchanged, compared to its average volume of 9,305,021. Marvell Technology Group Ltd. has a 1 year low of $16.45 and a 1 year high of $55.70. The firm has a market cap of $32.35 billion, a P/E ratio of 22.79, a P/E/G ratio of 4.41 and a beta of 1.17. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.42 and a quick ratio of 1.19. The company has a 50 day moving average price of $51.31 and a two-hundred day moving average price of $43.66.

Marvell Technology Group (NASDAQ:MRVL) last released its quarterly earnings results on Wednesday, December 2nd. The semiconductor company reported $0.25 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.25. The firm had revenue of $750.10 million for the quarter, compared to the consensus estimate of $751.01 million. Marvell Technology Group had a net margin of 51.19% and a return on equity of 3.76%. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.17 EPS. As a group, analysts predict that Marvell Technology Group Ltd. will post 0.58 EPS for the current year.

In other news, CFO Jean X. Hu sold 10,000 shares of the business’s stock in a transaction dated Tuesday, February 16th. The shares were sold at an average price of $54.10, for a total value of $541,000.00. Following the completion of the sale, the chief financial officer now owns 89,253 shares of the company’s stock, valued at approximately $4,828,587.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael G. Strachan sold 5,000 shares of the business’s stock in a transaction dated Thursday, December 17th. The stock was sold at an average price of $46.88, for a total transaction of $234,400.00. The disclosure for this sale can be found here. Insiders sold a total of 91,519 shares of company stock valued at $4,458,552 in the last three months. Insiders own 0.29% of the company’s stock.

A number of research analysts have issued reports on MRVL shares. William Blair reissued an “outperform” rating on shares of Marvell Technology Group in a research note on Friday, December 4th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Marvell Technology Group from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, January 12th. Summit Insights cut shares of Marvell Technology Group from a “buy” rating to a “hold” rating in a research note on Friday, December 4th. B. Riley raised their price objective on shares of Marvell Technology Group from $48.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, November 30th. Finally, UBS Group lifted their price target on shares of Marvell Technology Group from $47.00 to $50.00 and gave the company a “buy” rating in a report on Friday, December 4th. Five analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $48.46.

Marvell Technology Group Profile

Marvell Technology Group Ltd. designs, develops, and sells analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a portfolio of Ethernet solutions, including controllers, network adapters, physical transceivers, and switches; single or multiple core processors; custom application specific integrated circuits; and printer SoC products and application processors.

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Institutional Ownership by Quarter for Marvell Technology Group (NASDAQ:MRVL)

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