Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Acquires 11,375 Shares of Marvell Technology Group Ltd. (NASDAQ:MRVL)

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Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) by 13.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 97,820 shares of the semiconductor company’s stock after purchasing an additional 11,375 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Marvell Technology Group were worth $2,609,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Allworth Financial LP bought a new position in shares of Marvell Technology Group during the 4th quarter worth about $25,000. Manchester Financial Inc. bought a new position in shares of Marvell Technology Group during the 4th quarter worth about $27,000. CWM LLC lifted its holdings in shares of Marvell Technology Group by 296.0% during the 3rd quarter. CWM LLC now owns 1,497 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 1,119 shares during the period. Capital Investment Advisory Services LLC lifted its holdings in shares of Marvell Technology Group by 41.3% during the 3rd quarter. Capital Investment Advisory Services LLC now owns 1,712 shares of the semiconductor company’s stock worth $43,000 after acquiring an additional 500 shares during the period. Finally, Whittier Trust Co. lifted its holdings in shares of Marvell Technology Group by 205.7% during the 4th quarter. Whittier Trust Co. now owns 1,608 shares of the semiconductor company’s stock worth $43,000 after acquiring an additional 1,082 shares during the period. 95.93% of the stock is owned by institutional investors.

In other Marvell Technology Group news, COO Andrew Micallef sold 10,000 shares of the business’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $27.67, for a total value of $276,700.00. Following the completion of the transaction, the chief operating officer now directly owns 99,805 shares of the company’s stock, valued at $2,761,604.35. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Matthew J. Murphy sold 15,000 shares of Marvell Technology Group stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $23.70, for a total transaction of $355,500.00. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Shares of NASDAQ MRVL opened at $25.12 on Friday. Marvell Technology Group Ltd. has a 1-year low of $18.08 and a 1-year high of $28.85. The company has a market cap of $16.92 billion, a PE ratio of 66.37, a P/E/G ratio of 5.83 and a beta of 1.26. The company has a current ratio of 2.88, a quick ratio of 2.41 and a debt-to-equity ratio of 0.28. The company has a 50-day moving average of $26.24 and a two-hundred day moving average of $25.41.

Marvell Technology Group (NASDAQ:MRVL) last announced its earnings results on Tuesday, December 3rd. The semiconductor company reported $0.17 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.17. Marvell Technology Group had a negative net margin of 16.47% and a positive return on equity of 3.59%. The company had revenue of $662.00 million during the quarter, compared to the consensus estimate of $660.94 million. During the same period in the previous year, the firm posted $0.33 earnings per share. The company’s revenue was down 22.2% on a year-over-year basis. As a group, equities research analysts forecast that Marvell Technology Group Ltd. will post 0.28 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, December 26th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date was Tuesday, December 24th. Marvell Technology Group’s dividend payout ratio is presently 28.24%.

MRVL has been the subject of a number of analyst reports. BMO Capital Markets downgraded 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. Wells Fargo & Co raised shares of Marvell Technology Group from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $25.00 to $32.00 in a report on Monday, November 4th. Zacks Investment Research raised shares of Marvell Technology Group from a “sell” rating to a “hold” rating and set a $25.00 price target for the company in a report on Tuesday, February 4th. Cowen downgraded shares of Marvell Technology Group from an “outperform” rating to an “underperform” rating and cut their price target for the company from $27.00 to $18.00 in a report on Friday, February 7th. Finally, Barclays reissued a “buy” rating and set a $32.00 price target on shares of Marvell Technology Group in a report on Sunday, January 19th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $28.00.

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.

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Institutional Ownership by Quarter for Marvell Technology Group (NASDAQ:MRVL)

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