Tredje AP fonden lessened its stake in Marvell Technology Group Ltd. (NASDAQ:MRVL) by 8.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 196,398 shares of the semiconductor company’s stock after selling 18,397 shares during the period. Tredje AP fonden’s holdings in Marvell Technology Group were worth $3,256,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MRVL. Creative Planning lifted its stake in shares of Marvell Technology Group by 175.3% in the 1st quarter. Creative Planning now owns 7,158 shares of the semiconductor company’s stock valued at $109,000 after acquiring an additional 4,558 shares during the last quarter. ProShare Advisors LLC lifted its stake in shares of Marvell Technology Group by 0.3% in the 1st quarter. ProShare Advisors LLC now owns 27,321 shares of the semiconductor company’s stock valued at $417,000 after acquiring an additional 75 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Marvell Technology Group by 16.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 34,309 shares of the semiconductor company’s stock valued at $524,000 after acquiring an additional 4,960 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD lifted its stake in shares of Marvell Technology Group by 22.8% in the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 34,167 shares of the semiconductor company’s stock valued at $521,000 after acquiring an additional 6,344 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its stake in shares of Marvell Technology Group by 4.0% in the 1st quarter. Wells Fargo & Company MN now owns 184,261 shares of the semiconductor company’s stock valued at $2,812,000 after acquiring an additional 7,038 shares during the last quarter. 75.63% of the stock is owned by institutional investors.

Shares of Marvell Technology Group Ltd. (NASDAQ MRVL) opened at 17.25 on Friday. The company has a 50 day moving average price of $16.23 and a 200 day moving average price of $16.15. Marvell Technology Group Ltd. has a 1-year low of $12.03 and a 1-year high of $18.18. The stock has a market cap of $8.64 billion, a P/E ratio of 33.43 and a beta of 1.10.

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

In related news, major shareholder Sehat Sutardja sold 420,422 shares of Marvell Technology Group stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $17.84, for a total transaction of $7,500,328.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 6.80% of the company’s stock.

A number of research firms have recently weighed in on MRVL. B. Riley reissued a “buy” rating and issued a $23.00 target price on shares of Marvell Technology Group in a research note on Friday, September 1st. Morgan Stanley boosted their target price on Marvell Technology Group from $17.00 to $18.50 and gave the company an “equal weight” rating in a research note on Tuesday, May 30th. TheStreet raised Marvell Technology Group from a “c” rating to a “b” rating in a research note on Thursday, May 25th. Cowen and Company reissued an “outperform” rating and issued a $21.00 target price on shares of Marvell Technology Group in a research note on Wednesday, June 21st. Finally, Pacific Crest raised Marvell Technology Group from a “sector weight” rating to an “overweight” rating and set a $22.00 target price for the company in a research note on Tuesday, June 20th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Marvell Technology Group currently has an average rating of “Buy” and a consensus target price of $18.93.

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Marvell Technology Group 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.

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

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