Cipher Capital LP purchased a new stake in Marvell Technology Group Ltd. (NASDAQ:MRVL) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 160,544 shares of the semiconductor company’s stock, valued at approximately $2,873,000.

Several other institutional investors also recently added to or reduced their stakes in MRVL. D.A. Davidson & CO. boosted its holdings in shares of Marvell Technology Group by 10.2% in the second quarter. D.A. Davidson & CO. now owns 6,461 shares of the semiconductor company’s stock valued at $106,000 after buying an additional 600 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of Marvell Technology Group in the third quarter valued at approximately $106,000. Massey Quick Simon & CO. LLC acquired a new position in shares of Marvell Technology Group in the third quarter valued at approximately $124,000. Creative Planning boosted its holdings in shares of Marvell Technology Group by 39.8% in the second quarter. Creative Planning now owns 10,008 shares of the semiconductor company’s stock valued at $165,000 after buying an additional 2,850 shares during the period. Finally, First Quadrant L P CA acquired a new position in shares of Marvell Technology Group in the third quarter valued at approximately $211,000. Institutional investors own 77.03% of the company’s stock.

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In other Marvell Technology Group news, major shareholder Sehat Sutardja sold 62,337 shares of the stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $18.48, for a total transaction of $1,151,987.76. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 17,558,035 shares of company stock worth $320,838,284 over the last quarter. Corporate insiders own 6.80% of the company’s stock.

Several brokerages recently commented on MRVL. B. Riley restated a “buy” rating and set a $23.00 target price on shares of Marvell Technology Group in a report on Monday, August 21st. Northland Securities restated a “buy” rating and set a $20.00 target price on shares of Marvell Technology Group in a report on Friday, August 25th. Cowen and Company restated a “buy” rating and set a $21.00 target price on shares of Marvell Technology Group in a report on Monday, August 21st. BidaskClub upgraded shares of Marvell Technology Group from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 16th. Finally, Citigroup Inc. upgraded shares of Marvell Technology Group from a “sell” rating to a “neutral” rating and set a $22.00 target price for the company in a report on Tuesday, November 7th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Marvell Technology Group currently has a consensus rating of “Buy” and a consensus target price of $19.64.

Marvell Technology Group Ltd. (MRVL) traded up $0.03 during trading hours on Monday, reaching $20.29. 5,145,100 shares of the company were exchanged, compared to its average volume of 6,143,901. Marvell Technology Group Ltd. has a 1-year low of $13.59 and a 1-year high of $21.08. The company has a market capitalization of $10,060.00, a price-to-earnings ratio of 26.01, a price-to-earnings-growth ratio of 1.39 and a beta of 1.05.

Marvell Technology Group (NASDAQ:MRVL) last released its quarterly earnings results on Thursday, August 24th. The semiconductor company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.03). The business 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%. Marvell Technology Group’s revenue was up 16.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.18 earnings per share. analysts anticipate that Marvell Technology Group Ltd. will post 0.97 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 26th. Shareholders of record on Tuesday, October 10th were paid a dividend of $0.06 per share. The ex-dividend date was Friday, October 6th. This represents a $0.24 dividend on an annualized basis and a yield of 1.18%. Marvell Technology Group’s payout ratio is 54.55%.

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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