Calamos Advisors LLC raised its position in shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) by 82.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 406,475 shares of the semiconductor company’s stock after buying an additional 183,828 shares during the period. Calamos Advisors LLC’s holdings in Marvell Technology Group were worth $10,796,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in MRVL. CWM LLC boosted its position in Marvell Technology Group by 296.0% during the 3rd quarter. CWM LLC now owns 1,497 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 1,119 shares during the period. Capital Investment Advisory Services LLC boosted its position in Marvell Technology Group by 41.3% during the 3rd quarter. Capital Investment Advisory Services LLC now owns 1,712 shares of the semiconductor company’s stock valued at $43,000 after buying an additional 500 shares during the period. Griffin Asset Management Inc. purchased a new stake in Marvell Technology Group during the 2nd quarter valued at $50,000. NEXT Financial Group Inc boosted its position in Marvell Technology Group by 1,031.1% during the 3rd quarter. NEXT Financial Group Inc now owns 2,760 shares of the semiconductor company’s stock valued at $69,000 after buying an additional 2,516 shares during the period. Finally, Parallel Advisors LLC raised its holdings in Marvell Technology Group by 433.9% in the 3rd quarter. Parallel Advisors LLC now owns 2,755 shares of the semiconductor company’s stock worth $69,000 after purchasing an additional 2,239 shares in the last quarter. 95.76% of the stock is owned by institutional investors and hedge funds.
Several research analysts have commented on the stock. William Blair restated an “outperform” rating on shares of Marvell Technology Group in a report on Wednesday, December 4th. Argus restated a “buy” rating and issued a $30.00 price objective on shares of Marvell Technology Group in a report on Friday, December 6th. They noted that the move was a valuation call. JPMorgan Chase & Co. upped their price objective on shares of Marvell Technology Group from $27.00 to $31.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. ValuEngine lowered shares of Marvell Technology Group from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, BidaskClub upgraded shares of Marvell Technology Group from a “sell” rating to a “hold” rating in a report on Tuesday, December 17th. Seven analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Marvell Technology Group has an average rating of “Buy” and an average target price of $28.44.
Shares of Marvell Technology Group stock opened at $26.72 on Thursday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.88 and a quick ratio of 2.41. The company has a 50-day moving average of $25.97 and a 200 day moving average of $25.32. The firm has a market cap of $18.45 billion, a price-to-earnings ratio of 31.44, a PEG ratio of 12.88 and a beta of 1.19. Marvell Technology Group Ltd. has a 1 year low of $16.33 and a 1 year high of $28.38.
Marvell Technology Group (NASDAQ:MRVL) last issued its quarterly earnings results on Tuesday, December 3rd. The semiconductor company reported $0.17 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.17. The company had revenue of $662.00 million during the quarter, compared to analyst estimates of $660.94 million. Marvell Technology Group had a negative net margin of 16.47% and a positive return on equity of 3.59%. Marvell Technology Group’s quarterly revenue was down 22.2% compared to the same quarter last year. During the same period last year, the business earned $0.33 EPS. On average, equities analysts anticipate that Marvell Technology Group Ltd. will post 0.28 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, December 26th will be paid a $0.06 dividend. The ex-dividend date is Tuesday, December 24th. This represents a $0.24 annualized dividend and a dividend yield of 0.90%. Marvell Technology Group’s payout ratio is 28.24%.
In related news, CFO Jean X. Hu sold 10,000 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $26.50, for a total value of $265,000.00. Following the completion of the transaction, the chief financial officer now directly owns 96,542 shares in the company, valued at approximately $2,558,363. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Matthew J. Murphy sold 100,000 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $28.00, for a total transaction of $2,800,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 150,000 shares of company stock valued at $4,096,950. 1.10% of the stock is owned by company insiders.
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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