Teacher Retirement System of Texas increased its stake in shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) by 18.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,362,195 shares of the semiconductor company’s stock after buying an additional 367,343 shares during the period. Teacher Retirement System of Texas owned approximately 0.47% of Marvell Technology Group worth $39,023,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Profund Advisors LLC increased its stake in shares of Marvell Technology Group by 19.1% in the first quarter. Profund Advisors LLC now owns 80,048 shares of the semiconductor company’s stock valued at $1,222,000 after buying an additional 12,821 shares during the period. First Trust Advisors LP increased its stake in shares of Marvell Technology Group by 136.8% in the first quarter. First Trust Advisors LP now owns 364,273 shares of the semiconductor company’s stock valued at $5,559,000 after buying an additional 210,421 shares during the period. Dynamic Technology Lab Private Ltd increased its stake in shares of Marvell Technology Group by 18.2% in the first quarter. Dynamic Technology Lab Private Ltd now owns 20,203 shares of the semiconductor company’s stock valued at $309,000 after buying an additional 3,106 shares during the period. Dai Ichi Life Insurance Company Ltd increased its stake in shares of Marvell Technology Group by 19.0% in the first quarter. Dai Ichi Life Insurance Company Ltd now owns 471,404 shares of the semiconductor company’s stock valued at $7,194,000 after buying an additional 75,360 shares during the period. Finally, Affinity Wealth Management acquired a new stake in shares of Marvell Technology Group during the first quarter valued at $470,000. Institutional investors own 74.62% of the company’s stock.

Marvell Technology Group Ltd. (MRVL) opened at 15.05 on Friday. The stock’s 50 day moving average is $16.22 and its 200-day moving average is $15.97. The stock has a market capitalization of $7.56 billion, a PE ratio of 50.84 and a beta of 1.10. Marvell Technology Group Ltd. has a 52 week low of $11.30 and a 52 week high of $18.18.

Marvell Technology Group (NASDAQ:MRVL) last released its earnings results on Thursday, May 25th. The semiconductor company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.16 by $0.04. Marvell Technology Group had a net margin of 6.19% and a return on equity of 7.96%. The business had revenue of $579.18 million during the quarter, compared to analyst estimates of $570.72 million. During the same period in the prior year, the business earned $0.01 earnings per share. The business’s quarterly revenue was up 11.5% on a year-over-year basis. Equities research analysts forecast that Marvell Technology Group Ltd. will post $1.10 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, July 21st. Investors of record on Wednesday, July 5th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend was Friday, June 30th. Marvell Technology Group’s dividend payout ratio is presently 82.76%.

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Several equities research analysts have recently weighed in on MRVL shares. Needham & Company LLC reiterated a “buy” rating and set a $21.00 target price on shares of Marvell Technology Group in a research note on Tuesday, April 18th. B. Riley reiterated a “buy” rating and set a $21.00 target price on shares of Marvell Technology Group in a research note on Wednesday, April 26th. Zacks Investment Research downgraded shares of Marvell Technology Group from a “buy” rating to a “hold” rating in a research note on Wednesday, May 3rd. Deutsche Bank AG increased their target price on shares of Marvell Technology Group from $16.00 to $18.00 and gave the stock a “hold” rating in a research note on Thursday, May 25th. Finally, Citigroup Inc. upgraded shares of Marvell Technology Group to an “outperform” rating and set a $23.00 target price for the company in a research note on Friday, May 26th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $18.44.

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

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