Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in Marvell Technology Group Ltd. (NASDAQ:MRVL) by 15.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 129,709 shares of the semiconductor company’s stock after buying an additional 17,485 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Marvell Technology Group were worth $2,143,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in MRVL. Creative Planning lifted its holdings 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 in the last quarter. Mn Services Vermogensbeheer B.V. lifted its holdings 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 in the last quarter. ProShare Advisors LLC lifted its holdings 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 in the last quarter. Janney Montgomery Scott LLC lifted its holdings 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 in the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD lifted its holdings 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 in the last quarter. 75.63% of the stock is currently owned by hedge funds and other institutional investors.

Marvell Technology Group Ltd. (NASDAQ:MRVL) opened at 17.85 on Monday. Marvell Technology Group Ltd. has a one year low of $12.03 and a one year high of $18.18. The company has a market cap of $8.94 billion, a PE ratio of 34.59 and a beta of 1.10. The stock has a 50 day moving average of $16.11 and a 200 day moving average of $16.10.

Marvell Technology Group (NASDAQ:MRVL) last released its quarterly earnings results on Thursday, August 24th. The semiconductor company reported $0.25 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by $0.03. Marvell Technology Group had a net margin of 10.97% and a return on equity of 9.99%. The company had revenue of $604.75 million for the quarter, compared to analysts’ expectations of $600.76 million. During the same quarter in the previous year, the company posted $0.18 EPS. The business’s quarterly revenue was up 16.4% on a year-over-year basis. On average, analysts anticipate that Marvell Technology Group Ltd. will post $1.12 earnings per share for the current fiscal year.

MRVL has been the topic of a number of recent analyst reports. B. Riley reaffirmed a “buy” rating and issued a $23.00 target price on shares of Marvell Technology Group in a research note on Wednesday, June 28th. BidaskClub downgraded shares of Marvell Technology Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Zacks Investment Research downgraded shares of Marvell Technology Group from a “hold” rating to a “sell” rating in a research note on Wednesday, May 10th. TheStreet raised shares of Marvell Technology Group from a “c” rating to a “b” rating in a research note on Thursday, May 25th. Finally, Oppenheimer Holdings, Inc. raised shares of Marvell Technology Group from a “market perform” rating to an “outperform” rating and set a $18.50 target price on the stock in a research note on Friday, May 26th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Marvell Technology Group presently has an average rating of “Buy” and an average target price of $18.93.

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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.

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

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