Seven Eight Capital LP grew its holdings in shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) by 41.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 228,974 shares of the semiconductor company’s stock after buying an additional 66,900 shares during the quarter. Seven Eight Capital LP’s holdings in Marvell Technology Group were worth $3,783,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Marvell Technology Group by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 31,899,958 shares of the semiconductor company’s stock valued at $486,793,000 after buying an additional 887,640 shares in the last quarter. BlackRock Inc. raised its position in shares of Marvell Technology Group by 4,078.2% during the 1st quarter. BlackRock Inc. now owns 24,309,056 shares of the semiconductor company’s stock valued at $370,955,000 after buying an additional 23,727,243 shares in the last quarter. State Street Corp raised its position in shares of Marvell Technology Group by 3.6% during the 1st quarter. State Street Corp now owns 9,846,772 shares of the semiconductor company’s stock valued at $150,267,000 after buying an additional 341,686 shares in the last quarter. UBS Asset Management Americas Inc. raised its position in shares of Marvell Technology Group by 71.0% during the 1st quarter. UBS Asset Management Americas Inc. now owns 8,705,347 shares of the semiconductor company’s stock valued at $132,844,000 after buying an additional 3,613,160 shares in the last quarter. Finally, Boston Partners purchased a new stake in shares of Marvell Technology Group during the 2nd quarter valued at about $133,179,000. Hedge funds and other institutional investors own 76.67% of the company’s stock.

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Several analysts have recently issued reports on MRVL shares. TheStreet upgraded shares of Marvell Technology Group from a “c” rating to a “b” rating in a research report on Thursday, May 25th. Zacks Investment Research upgraded shares of Marvell Technology Group from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research report on Friday, May 26th. B. Riley restated a “buy” rating and set a $21.00 target price on shares of Marvell Technology Group in a research report on Monday, May 22nd. MKM Partners restated a “buy” rating and set a $20.00 target price on shares of Marvell Technology Group in a research report on Tuesday, July 4th. Finally, Cowen and Company restated a “buy” rating on shares of Marvell Technology Group in a research report on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Marvell Technology Group presently has an average rating of “Buy” and a consensus target price of $18.93.

Marvell Technology Group Ltd. (NASDAQ MRVL) traded up 0.604% during trading on Tuesday, hitting $17.475. 1,367,658 shares of the stock traded hands. The stock has a market cap of $8.75 billion, a P/E ratio of 33.866 and a beta of 1.10. Marvell Technology Group Ltd. has a 52-week low of $12.25 and a 52-week high of $18.18. The company’s 50 day moving average price is $16.23 and its 200-day moving average price is $16.15.

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

In related news, major shareholder Sehat Sutardja sold 420,422 shares of the stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $17.84, for a total value of $7,500,328.48. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 6.80% of the stock is currently owned by corporate insiders.

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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