Alpine Woods Capital Investors LLC cut its holdings in shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) by 14.6% in the 1st quarter, Holdings Channel reports. 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 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in MRVL. FMR LLC lifted its position in shares of Marvell Technology Group by 48.1% in the 4th quarter. FMR LLC now owns 80,824,523 shares of the semiconductor company’s stock valued at $1,308,549,000 after acquiring an additional 26,251,979 shares in the last quarter. Vanguard Group Inc lifted its position in shares of Marvell Technology Group by 45.0% in the 3rd quarter. Vanguard Group Inc now owns 53,229,098 shares of the semiconductor company’s stock valued at $1,027,321,000 after acquiring an additional 16,517,490 shares in the last quarter. BlackRock Inc. lifted its position in shares of Marvell Technology Group by 9.7% in the 4th quarter. BlackRock Inc. now owns 35,692,591 shares of the semiconductor company’s stock valued at $577,863,000 after acquiring an additional 3,150,773 shares in the last quarter. Boston Partners lifted its position in shares of Marvell Technology Group by 7.2% in the 4th quarter. Boston Partners now owns 15,313,740 shares of the semiconductor company’s stock valued at $247,930,000 after acquiring an additional 1,030,464 shares in the last quarter. Finally, Morgan Stanley lifted its position in shares of Marvell Technology Group by 837.0% in the 3rd quarter. Morgan Stanley now owns 6,592,139 shares of the semiconductor company’s stock valued at $127,230,000 after acquiring an additional 5,888,609 shares in the last quarter. 97.38% of the stock is owned by institutional investors and hedge funds.
In other Marvell Technology Group news, EVP Mitchell Gaynor sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $23.64, for a total value of $236,400.00. Following the transaction, the executive vice president now owns 25,576 shares in the company, valued at approximately $604,616.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.10% of the stock is currently owned by corporate insiders.
Marvell Technology Group stock opened at $22.89 on Wednesday. The company has a market capitalization of $14.90 billion, a price-to-earnings ratio of 26.93, a P/E/G ratio of 4.24 and a beta of 1.11. The company has a current ratio of 2.19, a quick ratio of 1.76 and a debt-to-equity ratio of 0.24. Marvell Technology Group Ltd. has a twelve month low of $14.34 and a twelve month high of $25.74.
Marvell Technology Group (NASDAQ:MRVL) last released its quarterly earnings data on Thursday, March 7th. The semiconductor company reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.02). The company had revenue of $744.80 million during the quarter, compared to analyst estimates of $739.88 million. Marvell Technology Group had a negative net margin of 6.25% and a positive return on equity of 7.95%. During the same quarter in the prior year, the company posted $0.32 EPS. Equities research analysts forecast that Marvell Technology Group Ltd. will post 0.63 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Wednesday, April 3rd were paid a $0.06 dividend. The ex-dividend date was Tuesday, April 2nd. This represents a $0.24 annualized dividend and a yield of 1.05%. Marvell Technology Group’s dividend payout ratio is presently 28.24%.
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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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