Pacad Investment Ltd. lowered its position in Marvell Technology Group Ltd. (NASDAQ:MRVL) by 16.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 73,697 shares of the semiconductor company’s stock after selling 14,124 shares during the period. Pacad Investment Ltd.’s holdings in Marvell Technology Group were worth $1,217,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Creative Planning increased its stake in shares of Marvell Technology Group by 175.3% in the first quarter. Creative Planning now owns 7,158 shares of the semiconductor company’s stock worth $109,000 after buying an additional 4,558 shares during the period. Mn Services Vermogensbeheer B.V. increased its stake in shares of Marvell Technology Group by 4.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 11,607 shares of the semiconductor company’s stock worth $166,000 after buying an additional 492 shares during the period. ProShare Advisors LLC increased its stake in shares of Marvell Technology Group by 0.3% in the first quarter. ProShare Advisors LLC now owns 27,321 shares of the semiconductor company’s stock worth $417,000 after buying an additional 75 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of Marvell Technology Group by 16.9% in the first quarter. Janney Montgomery Scott LLC now owns 34,309 shares of the semiconductor company’s stock worth $524,000 after buying an additional 4,960 shares during the period. Finally, Sumitomo Mitsui Asset Management Company LTD increased its stake in shares of Marvell Technology Group by 22.8% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 34,167 shares of the semiconductor company’s stock worth $521,000 after buying an additional 6,344 shares during the period. Institutional investors and hedge funds own 75.60% of the company’s stock.

Marvell Technology Group Ltd. (NASDAQ MRVL) opened at 17.85 on Friday. Marvell Technology Group Ltd. has a one year low of $12.03 and a one year high of $18.18. The firm has a market cap of $8.94 billion, a P/E ratio of 34.59 and a beta of 1.09. The stock’s 50 day moving average is $16.11 and its 200 day moving average is $16.10.

Marvell Technology Group (NASDAQ:MRVL) last issued its earnings results on Thursday, August 24th. The semiconductor company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by $0.03. Marvell Technology Group had a return on equity of 9.74% and a net margin of 16.74%. The firm had revenue of $604.75 million during the quarter, compared to analyst estimates of $600.76 million. During the same period in the previous year, the company earned $0.18 EPS. Marvell Technology Group’s revenue for the quarter was up 16.4% on a year-over-year basis. On average, equities research analysts expect that Marvell Technology Group Ltd. will post $1.12 earnings per share for the current year.

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A number of equities research analysts have recently commented on MRVL shares. Zacks Investment Research downgraded shares of Marvell Technology Group from a “hold” rating to a “sell” rating in a report on Wednesday, May 10th. B. Riley reiterated a “buy” rating and set a $21.00 price target on shares of Marvell Technology Group in a report on Wednesday, May 17th. Deutsche Bank AG lifted their price target on shares of Marvell Technology Group from $16.00 to $18.00 and gave the stock a “hold” rating in a report on Thursday, May 25th. Citigroup Inc. upgraded shares of Marvell Technology Group to an “outperform” rating and set a $23.00 price target for the company in a report on Friday, May 26th. Finally, Oppenheimer Holdings, Inc. upgraded shares of Marvell Technology Group from a “market perform” rating to an “outperform” rating and set a $18.50 price target for the company in a report on Friday, May 26th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $18.93.

About Marvell Technology Group

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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