IFM Investors Pty Ltd Invests $640,000 in Marvell Technology Group Ltd. (MRVL) Stock

IFM Investors Pty Ltd acquired a new stake in shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 35,736 shares of the semiconductor company’s stock, valued at approximately $640,000.

A number of other hedge funds have also recently made changes to their positions in MRVL. Parallel Advisors LLC purchased a new stake in shares of Marvell Technology Group during the 3rd quarter valued at about $968,000. Afam Capital Inc. boosted its holdings in shares of Marvell Technology Group by 13.4% during the 3rd quarter. Afam Capital Inc. now owns 267,181 shares of the semiconductor company’s stock valued at $4,783,000 after acquiring an additional 31,604 shares during the last quarter. Cubist Systematic Strategies LLC boosted its holdings in shares of Marvell Technology Group by 36.4% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 116,630 shares of the semiconductor company’s stock valued at $2,088,000 after acquiring an additional 31,153 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Marvell Technology Group during the 3rd quarter valued at about $2,617,000. Finally, Highbridge Capital Management LLC boosted its holdings in shares of Marvell Technology Group by 1,928.6% during the 3rd quarter. Highbridge Capital Management LLC now owns 14,200 shares of the semiconductor company’s stock valued at $254,000 after acquiring an additional 13,500 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors.

In other Marvell Technology Group news, major shareholder Sehat Sutardja sold 1,266,498 shares of the firm’s stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $18.55, for a total transaction of $23,493,537.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Marvell Semiconductor, Inc. Ca sold 9,812 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $21.20, for a total transaction of $208,014.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,700,504 shares of company stock worth $235,075,751. 6.80% of the stock is owned by company insiders.

A number of analysts have recently issued reports on MRVL shares. B. Riley reaffirmed a “buy” rating and set a $24.00 price target on shares of Marvell Technology Group in a report on Wednesday, September 20th. Loop Capital reaffirmed a “buy” rating and set a $22.00 price target on shares of Marvell Technology Group in a report on Friday, August 25th. Oppenheimer reaffirmed a “buy” rating and set a $23.00 price target on shares of Marvell Technology Group in a report on Friday, August 25th. Northland Securities reaffirmed a “buy” rating and set a $20.00 price target on shares of Marvell Technology Group in a report on Friday, August 25th. Finally, Credit Suisse Group reaffirmed a “buy” rating on shares of Marvell Technology Group in a report on Wednesday, August 23rd. Eight equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $23.87.

Marvell Technology Group Ltd. (NASDAQ:MRVL) opened at $21.65 on Friday. The stock has a market cap of $10,722.90, a P/E ratio of 23.47, a P/E/G ratio of 1.32 and a beta of 1.13. Marvell Technology Group Ltd. has a 1-year low of $13.83 and a 1-year high of $24.22.

Marvell Technology Group (NASDAQ:MRVL) last posted its quarterly earnings data on Tuesday, November 28th. The semiconductor company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. The company had revenue of $616.00 million for the quarter, compared to the consensus estimate of $613.49 million. Marvell Technology Group had a net margin of 16.53% and a return on equity of 11.93%. The firm’s revenue was down 5.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.20 earnings per share. analysts anticipate that Marvell Technology Group Ltd. will post 1.01 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Wednesday, December 27th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend is Tuesday, December 26th. Marvell Technology Group’s payout ratio is 31.17%.

COPYRIGHT VIOLATION WARNING: This piece of content was posted by Week Herald and is the sole property of of Week Herald. If you are reading this piece of content on another domain, it was copied illegally and reposted in violation of international copyright laws. The legal version of this piece of content can be accessed at https://weekherald.com/2017/12/15/ifm-investors-pty-ltd-invests-640000-in-marvell-technology-group-ltd-mrvl-stock.html.

About Marvell Technology Group

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)

Receive News & Ratings for Marvell Technology Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marvell Technology Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply