Nordea Investment Management AB raised its holdings in Marvell Technology Group Ltd. (NASDAQ:MRVL) by 4.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 452,826 shares of the semiconductor company’s stock after buying an additional 21,300 shares during the quarter. Nordea Investment Management AB owned 0.09% of Marvell Technology Group worth $7,481,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Marvell Technology Group by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 32,190,297 shares of the semiconductor company’s stock valued at $531,785,000 after buying an additional 290,339 shares during the period. BlackRock Inc. increased its holdings in Marvell Technology Group by 4,078.2% in 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 during the period. State Street Corp increased its holdings in Marvell Technology Group by 3.6% in 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 during the period. UBS Asset Management Americas Inc. increased its holdings in Marvell Technology Group by 2.3% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 8,901,332 shares of the semiconductor company’s stock valued at $147,050,000 after buying an additional 195,985 shares during the period. Finally, Boston Partners bought a new stake in Marvell Technology Group in the 2nd quarter valued at $133,179,000. 76.61% of the stock is currently owned by hedge funds and other institutional investors.

Marvell Technology Group Ltd. (MRVL) opened at 17.92 on Thursday. The firm has a market capitalization of $8.88 billion, a P/E ratio of 34.73 and a beta of 1.10. Marvell Technology Group Ltd. has a 52-week low of $12.30 and a 52-week high of $18.67. The firm’s 50-day moving average is $16.65 and its 200-day moving average is $16.25.

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). The firm had revenue of $604.75 million for the quarter, compared to the consensus estimate of $600.76 million. Marvell Technology Group had a return on equity of 9.99% and a net margin of 10.97%. The business’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.18 earnings per share. On average, equities analysts expect that Marvell Technology Group Ltd. will post $1.12 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 26th. Stockholders of record on Tuesday, October 10th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.34%. The ex-dividend date is Friday, October 6th. Marvell Technology Group’s dividend payout ratio (DPR) is currently 47.06%.

In other news, major shareholder Sehat Sutardja sold 537,235 shares of the business’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $17.57, for a total transaction of $9,439,218.95. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders have sold 5,419,843 shares of company stock worth $96,208,373. Company insiders own 6.80% of the company’s stock.

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Several brokerages have issued reports on MRVL. B. Riley reissued a “buy” rating and issued a $24.00 price target on shares of Marvell Technology Group in a report on Monday. BMO Capital Markets reissued a “market perform” rating and issued a $16.00 price target on shares of Marvell Technology Group in a report on Monday, August 28th. Loop Capital reissued a “buy” rating and issued a $22.00 price target on shares of Marvell Technology Group in a report on Friday, August 25th. Oppenheimer Holdings, Inc. reissued a “buy” rating and issued a $23.00 price target on shares of Marvell Technology Group in a report on Friday, August 25th. Finally, Northland Securities reissued a “buy” rating and issued a $20.00 price target on shares of Marvell Technology Group in a report on Friday, August 25th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $19.22.

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.

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

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