Indie Asset Partners LLC reduced its position in shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) by 2.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 7,100 shares of the semiconductor company’s stock after selling 213 shares during the quarter. Indie Asset Partners LLC’s holdings in Marvell Technology Group were worth $338,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. OLD Second National Bank of Aurora bought a new stake in shares of Marvell Technology Group during the 4th quarter worth $25,000. Tompkins Financial Corp bought a new stake in shares of Marvell Technology Group during the 4th quarter worth $27,000. South State CORP. bought a new stake in shares of Marvell Technology Group during the 3rd quarter worth $31,000. First Horizon Advisors Inc. boosted its holdings in shares of Marvell Technology Group by 496.5% during the 3rd quarter. First Horizon Advisors Inc. now owns 847 shares of the semiconductor company’s stock worth $33,000 after buying an additional 705 shares during the period. Finally, Allworth Financial LP boosted its holdings in shares of Marvell Technology Group by 139.5% during the 4th quarter. Allworth Financial LP now owns 728 shares of the semiconductor company’s stock worth $35,000 after buying an additional 424 shares during the period. 87.32% of the stock is owned by institutional investors and hedge funds.
In other news, CFO Jean X. Hu sold 10,587 shares of the firm’s stock in a transaction dated Tuesday, December 15th. The shares were sold at an average price of $44.69, for a total value of $473,133.03. Following the transaction, the chief financial officer now owns 105,621 shares of the company’s stock, valued at approximately $4,720,202.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Dean E. Jr. Jarnac sold 12,251 shares of the firm’s stock in a transaction dated Monday, December 21st. The shares were sold at an average price of $47.02, for a total transaction of $576,042.02. Following the completion of the transaction, the senior vice president now directly owns 16,554 shares in the company, valued at approximately $778,369.08. The disclosure for this sale can be found here. Insiders sold a total of 91,519 shares of company stock worth $4,458,552 in the last ninety days. Insiders own 0.29% of the company’s stock.
MRVL traded down $1.53 during midday trading on Tuesday, hitting $48.16. The company had a trading volume of 786,457 shares, compared to its average volume of 9,305,021. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.19 and a current ratio of 1.42. The company has a market capitalization of $32.35 billion, a PE ratio of 22.79, a P/E/G ratio of 4.41 and a beta of 1.17. Marvell Technology Group Ltd. has a twelve month low of $16.45 and a twelve month high of $55.70. The firm’s 50-day simple moving average is $51.31 and its 200-day simple moving average is $43.66.
Marvell Technology Group (NASDAQ:MRVL) last posted its quarterly earnings data on Wednesday, December 2nd. The semiconductor company reported $0.25 earnings per share for the quarter, meeting the consensus estimate of $0.25. The firm had revenue of $750.10 million during the quarter, compared to analysts’ expectations of $751.01 million. Marvell Technology Group had a net margin of 51.19% and a return on equity of 3.76%. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.17 EPS. As a group, sell-side analysts anticipate that Marvell Technology Group Ltd. will post 0.58 EPS for the current fiscal year.
About Marvell Technology Group
Marvell Technology Group Ltd. designs, develops, and sells analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a portfolio of Ethernet solutions, including controllers, network adapters, physical transceivers, and switches; single or multiple core processors; custom application specific integrated circuits; and printer SoC products and application processors.
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