Diversified Trust Co purchased a new position in shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,789 shares of the semiconductor company’s stock, valued at approximately $228,000.
A number of other institutional investors have also made changes to their positions in the stock. Captrust Financial Advisors purchased a new position in Marvell Technology Group in the 2nd quarter valued at about $25,000. San Francisco Sentry Investment Group CA purchased a new position in Marvell Technology Group in the 3rd quarter valued at about $25,000. FNY Investment Advisers LLC purchased a new position in Marvell Technology Group in the 3rd quarter valued at about $27,000. Crewe Advisors LLC boosted its position in Marvell Technology Group by 56.5% in the 3rd quarter. Crewe Advisors LLC now owns 673 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 243 shares during the last quarter. Finally, Asset Dedication LLC purchased a new position in Marvell Technology Group in the 3rd quarter valued at about $31,000. 77.86% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP Mitchell Gaynor sold 19,428 shares of the firm’s stock in a transaction that occurred on Wednesday, December 23rd. The shares were sold at an average price of $46.84, for a total transaction of $910,007.52. Following the transaction, the executive vice president now owns 42,754 shares in the company, valued at $2,002,597.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Dean E. Jr. Jarnac sold 12,251 shares of the firm’s stock in a transaction that occurred on Monday, December 21st. The shares were sold at an average price of $47.02, for a total transaction of $576,042.02. Following the transaction, the senior vice president now owns 16,554 shares in the company, valued at approximately $778,369.08. The disclosure for this sale can be found here. Insiders have sold 74,062 shares of company stock worth $3,364,445 in the last quarter. Company insiders own 0.29% of the company’s stock.
Marvell Technology Group (NASDAQ:MRVL) last released its quarterly earnings results on Wednesday, December 2nd. The semiconductor company reported $0.25 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.25. The company had revenue of $750.10 million for the quarter, compared to analysts’ expectations of $751.01 million. Marvell Technology Group had a return on equity of 3.76% and a net margin of 51.19%. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.17 earnings per share. As a group, analysts forecast that Marvell Technology Group Ltd. will post 0.58 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 14th. Investors of record on Wednesday, December 23rd will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Tuesday, December 22nd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.48%. Marvell Technology Group’s dividend payout ratio is presently 75.00%.
A number of equities analysts have weighed in on the stock. BidaskClub raised shares of Marvell Technology Group from a “hold” rating to a “buy” rating in a research report on Thursday, December 17th. KeyCorp began coverage on shares of Marvell Technology Group in a research note on Tuesday, October 20th. They issued an “overweight” rating and a $55.00 target price on the stock. Bank of America reaffirmed a “buy” rating and set a $55.00 price target on shares of Marvell Technology Group in a research report on Thursday, December 3rd. Rosenblatt Securities raised shares of Marvell Technology Group to a “buy” rating in a research report on Wednesday, October 7th. Finally, UBS Group increased their price target on shares of Marvell Technology Group from $47.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, December 4th. Six equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $48.08.
Marvell Technology Group Company Profile
Marvell Technology Group Ltd. designs, develops, and sells analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a portfolio of Ethernet solutions, including controllers, network adapters, physical transceivers, and switches; single or multiple core processors; custom application specific integrated circuits; and printer SoC products and application processors.
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