Calamos Advisors LLC raised its stake in Marvell Technology Group Ltd. (NASDAQ:MRVL) by 82.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 406,475 shares of the semiconductor company’s stock after purchasing an additional 183,828 shares during the period. Calamos Advisors LLC owned 0.06% of Marvell Technology Group worth $10,796,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Simon Quick Advisors LLC grew its holdings in shares of Marvell Technology Group by 20.7% during the fourth quarter. Simon Quick Advisors LLC now owns 3,562 shares of the semiconductor company’s stock valued at $95,000 after buying an additional 610 shares during the last quarter. Worldquant Millennium Advisors LLC acquired a new position in shares of Marvell Technology Group during the third quarter valued at about $17,649,000. Calamos Wealth Management LLC grew its holdings in shares of Marvell Technology Group by 2.3% during the fourth quarter. Calamos Wealth Management LLC now owns 127,479 shares of the semiconductor company’s stock valued at $3,386,000 after buying an additional 2,908 shares during the last quarter. Sheaff Brock Investment Advisors LLC grew its holdings in shares of Marvell Technology Group by 8.6% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 39,508 shares of the semiconductor company’s stock valued at $987,000 after buying an additional 3,131 shares during the last quarter. Finally, Northern Oak Wealth Management Inc. acquired a new position in shares of Marvell Technology Group during the third quarter valued at about $126,000. 95.76% of the stock is owned by hedge funds and other institutional investors.
In other news, CFO Jean X. Hu sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $26.50, for a total value of $265,000.00. Following the sale, the chief financial officer now owns 96,542 shares of the company’s stock, valued at $2,558,363. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Matthew J. Murphy sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $28.00, for a total transaction of $2,800,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 150,000 shares of company stock worth $4,096,950. Corporate insiders own 1.10% of the company’s stock.
Marvell Technology Group stock opened at $26.72 on Thursday. Marvell Technology Group Ltd. has a fifty-two week low of $16.33 and a fifty-two week high of $28.38. The stock has a market cap of $18.45 billion, a PE ratio of 31.44, a price-to-earnings-growth ratio of 12.88 and a beta of 1.19. The firm’s 50-day simple moving average is $25.97 and its 200 day simple moving average is $25.32. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.41 and a current ratio of 2.88.
Marvell Technology Group (NASDAQ:MRVL) last released its earnings results on Tuesday, December 3rd. The semiconductor company reported $0.17 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.17. The firm had revenue of $662.00 million for the quarter, compared to analysts’ expectations of $660.94 million. Marvell Technology Group had a negative net margin of 16.47% and a positive return on equity of 3.59%. The company’s quarterly revenue was down 22.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.33 earnings per share. As a group, analysts predict that Marvell Technology Group Ltd. will post 0.28 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, December 26th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Tuesday, December 24th. Marvell Technology Group’s payout ratio is 28.24%.
A number of brokerages have recently issued reports on MRVL. William Blair reiterated an “outperform” rating on shares of Marvell Technology Group in a report on Wednesday, December 4th. B. Riley began coverage on shares of Marvell Technology Group in a report on Wednesday, December 4th. They set a “buy” rating and a $32.00 price objective for the company. Stifel Nicolaus reiterated a “buy” rating and set a $29.00 price objective on shares of Marvell Technology Group in a report on Monday, December 9th. BMO Capital Markets cut shares of Marvell Technology Group from an “outperform” rating to a “market perform” rating and set a $28.00 price objective for the company. in a report on Wednesday, December 4th. Finally, BidaskClub upgraded shares of Marvell Technology Group from a “sell” rating to a “hold” rating in a report on Tuesday, December 17th. Seven analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $28.44.
About Marvell Technology Group
Marvell Technology Group Ltd. designs, develops, and markets analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a range of storage products, including hard disk drive (HDD) and solid-state drive controllers, as well as preamplifiers; supports a variety of host system interfaces consisting of serial attached SCSI (SAS), serial advanced technology attachment (SATA), peripheral component interconnect express, and non-volatile memory express; and develops software-enabled silicon solutions comprising SATA port multipliers, bridges, SATA, SAS, and non-volatile memory express redundant array of independent disks controllers and converged storage processors for enterprises, data centers, and cloud computing businesses.
Further Reading: Risk Tolerance
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