Unigestion Holding SA Grows Position in Marvell Technology Group Ltd. (MRVL)

Unigestion Holding SA increased its position in shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) by 57.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 47,028 shares of the semiconductor company’s stock after purchasing an additional 17,228 shares during the period. Unigestion Holding SA’s holdings in Marvell Technology Group were worth $908,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. DnB Asset Management AS boosted its stake in shares of Marvell Technology Group by 33.1% during the 2nd quarter. DnB Asset Management AS now owns 41,385 shares of the semiconductor company’s stock worth $887,000 after purchasing an additional 10,300 shares during the last quarter. IFM Investors Pty Ltd boosted its position in shares of Marvell Technology Group by 27.0% in the second quarter. IFM Investors Pty Ltd now owns 25,430 shares of the semiconductor company’s stock worth $545,000 after acquiring an additional 5,400 shares during the last quarter. State of Alaska Department of Revenue boosted its position in shares of Marvell Technology Group by 39.9% in the second quarter. State of Alaska Department of Revenue now owns 43,780 shares of the semiconductor company’s stock worth $938,000 after acquiring an additional 12,490 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of Marvell Technology Group by 3.8% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 152,896 shares of the semiconductor company’s stock worth $3,278,000 after acquiring an additional 5,600 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in shares of Marvell Technology Group by 5.9% in the second quarter. Bank of Montreal Can now owns 248,909 shares of the semiconductor company’s stock worth $5,337,000 after acquiring an additional 13,961 shares during the last quarter. 83.59% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts recently issued reports on the stock. Zacks Investment Research cut shares of Marvell Technology Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 1st. BidaskClub cut shares of Marvell Technology Group from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 2nd. Cowen decreased their target price on shares of Marvell Technology Group from $29.00 to $26.00 and set an “outperform” rating on the stock in a research report on Monday, August 27th. ValuEngine cut shares of Marvell Technology Group from a “buy” rating to a “hold” rating in a research report on Tuesday, August 14th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Marvell Technology Group in a research report on Friday, September 7th. They issued an “overweight” rating and a $27.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twenty-three have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $25.56.

In other news, CEO Matthew J. Murphy sold 10,000 shares of Marvell Technology Group stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $20.64, for a total transaction of $206,400.00. Following the sale, the chief executive officer now owns 1,755 shares in the company, valued at $36,223.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.10% of the company’s stock.

NASDAQ MRVL opened at $15.79 on Tuesday. Marvell Technology Group Ltd. has a one year low of $15.31 and a one year high of $25.18. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.76 and a current ratio of 2.54. The company has a market capitalization of $10.79 billion, a P/E ratio of 15.18, a price-to-earnings-growth ratio of 1.96 and a beta of 1.09.

Marvell Technology Group (NASDAQ:MRVL) last posted its quarterly earnings results on Thursday, September 6th. The semiconductor company reported $0.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.01). The business had revenue of $665.31 million during the quarter, compared to analysts’ expectations of $685.00 million. Marvell Technology Group had a net margin of 15.36% and a return on equity of 10.70%. The company’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.30 EPS. Equities research analysts predict that Marvell Technology Group Ltd. will post 0.86 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 23rd. Stockholders of record on Tuesday, October 2nd were paid a dividend of $0.06 per share. The ex-dividend date was Monday, October 1st. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.52%. Marvell Technology Group’s dividend payout ratio is currently 23.08%.

Marvell Technology Group announced that its board has initiated a share repurchase plan on Tuesday, October 16th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to reacquire up to 7.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

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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 HDD components, such as HDD preamps components; and develops software-enabled silicon solutions comprising serial advanced technology attachment port multipliers, bridges, serial attached SCSI, 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: Yield Curve

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

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