Seeyond boosted its holdings in Marvell Technology Group Ltd. (NASDAQ:MRVL) by 121.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,282 shares of the semiconductor company’s stock after purchasing an additional 20,986 shares during the quarter. Seeyond’s holdings in Marvell Technology Group were worth $914,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of MRVL. FMR LLC boosted its stake in Marvell Technology Group by 22.0% in the 1st quarter. FMR LLC now owns 98,609,661 shares of the semiconductor company’s stock worth $1,961,346,000 after purchasing an additional 17,785,138 shares during the period. BlackRock Inc. boosted its stake in Marvell Technology Group by 29.1% in the 1st quarter. BlackRock Inc. now owns 46,081,466 shares of the semiconductor company’s stock worth $916,559,000 after purchasing an additional 10,388,875 shares during the period. FIL Ltd boosted its stake in Marvell Technology Group by 117.7% in the 1st quarter. FIL Ltd now owns 10,543,241 shares of the semiconductor company’s stock worth $209,705,000 after purchasing an additional 5,700,711 shares during the period. Allianz Asset Management GmbH boosted its stake in 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 worth $231,986,000 after purchasing an additional 5,619,751 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in Marvell Technology Group by 62.7% in the 1st quarter. JPMorgan Chase & Co. now owns 10,742,547 shares of the semiconductor company’s stock worth $213,670,000 after purchasing an additional 4,138,462 shares during the period.

Several research firms have weighed in on MRVL. Susquehanna Bancshares set a $28.00 price target on Marvell Technology Group and gave the stock a “buy” rating in a research note on Friday, August 30th. Citigroup downgraded Marvell Technology Group to a “buy” rating and set a $29.00 target price for the company. in a research report on Friday, August 30th. Piper Jaffray Companies set a $30.00 target price on Marvell Technology Group and gave the company a “buy” rating in a research report on Friday, August 30th. B. Riley set a $28.00 target price on Marvell Technology Group and gave the company a “buy” rating in a research report on Monday, August 26th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $28.00 target price on shares of Marvell Technology Group in a research report on Sunday, September 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $26.96.

In related news, EVP Dan Christman sold 64,856 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $24.97, for a total value of $1,619,454.32. Following the completion of the sale, the executive vice president now directly owns 1,629 shares in the company, valued at $40,676.13. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Andrew Micallef sold 40,000 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $24.00, for a total value of $960,000.00. Following the completion of the sale, the chief operating officer now owns 85,048 shares of the company’s stock, valued at $2,041,152. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 447,913 shares of company stock valued at $11,372,351. 1.10% of the stock is owned by corporate insiders.

MRVL traded up $0.04 during trading on Friday, reaching $26.01. The company had a trading volume of 159,085 shares, compared to its average volume of 7,724,842. The stock has a market cap of $16.55 billion, a P/E ratio of 30.62, a PEG ratio of 11.63 and a beta of 1.19. The business has a 50 day simple moving average of $24.96 and a 200-day simple moving average of $23.32. Marvell Technology Group Ltd. has a 52 week low of $14.34 and a 52 week high of $27.64. The company has a quick ratio of 2.68, a current ratio of 3.06 and a debt-to-equity ratio of 0.23.

Marvell Technology Group (NASDAQ:MRVL) last issued its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.11. The company had revenue of $656.56 million during the quarter, compared to the consensus estimate of $650.29 million. Marvell Technology Group had a positive return on equity of 5.25% and a negative net margin of 14.42%. Marvell Technology Group’s revenue was down 1.3% on a year-over-year basis. During the same period last year, the company earned $0.28 earnings per share. As a group, equities research analysts expect that Marvell Technology Group Ltd. will post 0.34 EPS for the current fiscal year.

Marvell Technology Group Profile

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

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