Meadow Creek Investment Management LLC Purchases New Position in Marvell Technology Group (MRVL)

Meadow Creek Investment Management LLC purchased a new stake in Marvell Technology Group (NASDAQ:MRVL) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 38,500 shares of the semiconductor company’s stock, valued at approximately $809,000.

A number of other hedge funds have also recently made changes to their positions in the business. Bank of Montreal Can raised its position in shares of Marvell Technology Group by 162.7% in the fourth quarter. Bank of Montreal Can now owns 992,462 shares of the semiconductor company’s stock valued at $21,308,000 after purchasing an additional 614,690 shares during the period. Schwab Charles Investment Management Inc. raised its position in shares of Marvell Technology Group by 2.0% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,575,254 shares of the semiconductor company’s stock valued at $33,821,000 after purchasing an additional 31,382 shares during the period. Fox Run Management L.L.C. bought a new position in shares of Marvell Technology Group in the fourth quarter valued at about $690,000. State of Alaska Department of Revenue bought a new position in shares of Marvell Technology Group in the fourth quarter valued at about $517,000. Finally, First Quadrant L P CA raised its position in shares of Marvell Technology Group by 3,410.0% in the fourth quarter. First Quadrant L P CA now owns 413,548 shares of the semiconductor company’s stock valued at $8,879,000 after purchasing an additional 401,766 shares during the period.

NASDAQ:MRVL opened at $21.42 on Monday. Marvell Technology Group has a one year low of $14.87 and a one year high of $25.18. The company has a market cap of $10.71 billion, a P/E ratio of 20.80, a price-to-earnings-growth ratio of 1.65 and a beta of 0.98.

Marvell Technology Group (NASDAQ:MRVL) last posted its earnings results on Thursday, March 8th. The semiconductor company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.31 by $0.01. Marvell Technology Group had a net margin of 21.56% and a return on equity of 13.13%. The business had revenue of $615.40 million for the quarter, compared to the consensus estimate of $610.99 million. During the same period last year, the company earned $0.22 EPS. The firm’s revenue was up 8.7% compared to the same quarter last year. analysts predict that Marvell Technology Group will post 1.16 earnings per share for the current year.

In related news, CEO Matthew J. Murphy sold 10,000 shares of Marvell Technology Group stock in a transaction that occurred on Friday, May 4th. The shares were sold at an average price of $20.70, for a total transaction of $207,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Marvell Semiconductor, Inc. Ca sold 3,310 shares of Marvell Technology Group stock in a transaction that occurred on Wednesday, April 18th. The stock was sold at an average price of $22.40, for a total transaction of $74,144.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 53,310 shares of company stock worth $1,208,344. 0.10% of the stock is owned by corporate insiders.

A number of equities analysts recently commented on the stock. TheStreet raised shares of Marvell Technology Group from a “c+” rating to a “b-” rating in a research report on Monday, April 16th. Rosenblatt Securities assumed coverage on shares of Marvell Technology Group in a research report on Tuesday, April 3rd. They set a “buy” rating and a $27.00 price target on the stock. Argus assumed coverage on shares of Marvell Technology Group in a research report on Wednesday, March 7th. They set a “buy” rating and a $28.00 price target on the stock. BidaskClub raised shares of Marvell Technology Group from a “hold” rating to a “buy” rating in a research report on Friday, February 23rd. Finally, ValuEngine raised shares of Marvell Technology Group from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $25.59.

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.

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

Receive News & Ratings for Marvell Technology Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marvell Technology Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply