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.
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%.
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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.
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