Alpine Woods Capital Investors LLC Lowers Stake in Marvell Technology Group Ltd. (MRVL)

Alpine Woods Capital Investors LLC cut its stake in shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) by 14.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 35,000 shares of the semiconductor company’s stock after selling 6,000 shares during the period. Alpine Woods Capital Investors LLC’s holdings in Marvell Technology Group were worth $696,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Toronto Dominion Bank lifted its holdings in Marvell Technology Group by 409.7% in the 1st quarter. Toronto Dominion Bank now owns 596,919 shares of the semiconductor company’s stock worth $11,872,000 after buying an additional 479,818 shares in the last quarter. Mn Services Vermogensbeheer B.V. lifted its holdings in Marvell Technology Group by 3.6% in the 1st quarter. Mn Services Vermogensbeheer B.V. now owns 348,098 shares of the semiconductor company’s stock worth $6,924,000 after buying an additional 12,100 shares in the last quarter. First Mercantile Trust Co. lifted its holdings in Marvell Technology Group by 3.6% in the 1st quarter. First Mercantile Trust Co. now owns 41,548 shares of the semiconductor company’s stock worth $826,000 after buying an additional 1,463 shares in the last quarter. Nissay Asset Management Corp Japan ADV lifted its holdings in Marvell Technology Group by 5.7% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 58,065 shares of the semiconductor company’s stock worth $1,155,000 after buying an additional 3,153 shares in the last quarter. Finally, Quantum Capital Management lifted its holdings in Marvell Technology Group by 16.3% in the 1st quarter. Quantum Capital Management now owns 12,674 shares of the semiconductor company’s stock worth $252,000 after buying an additional 1,778 shares in the last quarter. 97.38% of the stock is owned by institutional investors.

MRVL opened at $22.89 on Wednesday. The stock has a market capitalization of $14.90 billion, a PE ratio of 26.93, a P/E/G ratio of 4.24 and a beta of 1.11. Marvell Technology Group Ltd. has a 1-year low of $14.34 and a 1-year high of $25.74. The company has a quick ratio of 1.76, a current ratio of 2.19 and a debt-to-equity ratio of 0.24.

Marvell Technology Group (NASDAQ:MRVL) last announced its quarterly earnings data on Thursday, March 7th. The semiconductor company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.02). Marvell Technology Group had a negative net margin of 6.25% and a positive return on equity of 7.95%. The business had revenue of $744.80 million for the quarter, compared to the consensus estimate of $739.88 million. During the same period in the prior year, the company earned $0.32 EPS. On average, equities analysts expect that Marvell Technology Group Ltd. will post 0.63 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Investors of record on Wednesday, April 3rd were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend was Tuesday, April 2nd. Marvell Technology Group’s dividend payout ratio is presently 28.24%.

In related news, EVP Mitchell Gaynor sold 10,000 shares of the business’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $23.64, for a total transaction of $236,400.00. Following the completion of the sale, the executive vice president now owns 25,576 shares of the company’s stock, valued at approximately $604,616.64. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.10% of the stock is owned by corporate insiders.

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Co assumed coverage on shares of Marvell Technology Group in a research report on Tuesday. They issued a “market perform” rating for the company. UBS Group boosted their target price on shares of Marvell Technology Group from $22.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. ValuEngine raised shares of Marvell Technology Group from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. BidaskClub raised shares of Marvell Technology Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 23rd. Finally, Citigroup boosted their target price on shares of Marvell Technology Group from $22.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Three investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Marvell Technology Group has an average rating of “Buy” and a consensus target price of $25.62.

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Marvell Technology Group Profile

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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