The Marvell Technology Group Ltd. (MRVL) Shares Sold by LS Investment Advisors LLC

The Marvell Technology Group Ltd. (MRVL) Shares Sold by LS Investment Advisors LLC

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MRVL. AQR Capital Management LLC increased its position in shares of Marvell Technology Group by 7.1% in the fourth quarter. AQR Capital Management LLC now owns 8,575,346 shares of the semiconductor company’s stock valued at $118,940,000 after buying an additional 568,496 shares during the period. Norges Bank purchased a new position in shares of Marvell Technology Group during the fourth quarter valued at approximately $115,619,000. UBS Asset Management Americas Inc. increased its position in shares of Marvell Technology Group by 35.7% in the fourth quarter. UBS Asset Management Americas Inc. now owns 5,092,187 shares of the semiconductor company’s stock valued at $70,630,000 after buying an additional 1,339,243 shares during the period. Argent Capital Management LLC purchased a new position in shares of Marvell Technology Group during the third quarter valued at approximately $60,316,000. Finally, Roystone Capital Management LP increased its position in shares of Marvell Technology Group by 25.2% in the fourth quarter. Roystone Capital Management LP now owns 3,934,500 shares of the semiconductor company’s stock valued at $54,572,000 after buying an additional 792,500 shares during the period. Institutional investors and hedge funds own 73.41% of the company’s stock.

LS Investment Advisors LLC decreased its position in shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) by 33.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,653 shares of the semiconductor company’s stock after selling 3,883 shares during the period. LS Investment Advisors LLC’s holdings in Marvell Technology Group were worth $117,000 at the end of the most recent quarter.

Marvell Technology Group Ltd. (NASDAQ:MRVL) opened at 17.59 on Monday. Marvell Technology Group Ltd. has a 52 week low of $9.05 and a 52 week high of $17.80. The firm has a 50 day moving average of $15.75 and a 200-day moving average of $15.19. The company has a market capitalization of $8.86 billion, a P/E ratio of 59.43 and a beta of 1.11.

Marvell Technology Group (NASDAQ:MRVL) last announced its quarterly earnings data on Thursday, May 25th. The semiconductor company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.04. The firm had revenue of $579.18 million for the quarter, compared to the consensus estimate of $570.72 million. Marvell Technology Group had a net margin of 4.33% and a return on equity of 3.28%. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.01 earnings per share. On average, analysts forecast that Marvell Technology Group Ltd. will post $1.11 earnings per share for the current year.

Several research analysts recently commented on the stock. B. Riley reiterated a “buy” rating and issued a $21.00 target price on shares of Marvell Technology Group in a report on Monday, March 6th. Citigroup Inc upgraded shares of Marvell Technology Group to an “outperform” rating and set a $23.00 target price on the stock in a report on Friday, May 26th. Zacks Investment Research upgraded shares of Marvell Technology Group from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a report on Friday, May 26th. Jefferies Group LLC reiterated a “hold” rating and issued a $18.00 target price on shares of Marvell Technology Group in a report on Monday, March 13th. Finally, Vetr upgraded shares of Marvell Technology Group from a “buy” rating to a “strong-buy” rating and set a $18.47 target price on the stock in a report on Monday, March 13th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $17.75.

Marvell Technology Group Company Profile 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:MRVL”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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