Nan Shan Life Insurance Co. Ltd. Has $37.27 Million Stock Holdings in Marvell Technology Group Ltd. (NASDAQ:MRVL)


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Nan Shan Life Insurance Co. Ltd. boosted its position in Marvell Technology Group Ltd. (NASDAQ:MRVL) by 38.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 784,000 shares of the semiconductor company’s stock after purchasing an additional 216,000 shares during the quarter. Nan Shan Life Insurance Co. Ltd.’s holdings in Marvell Technology Group were worth $37,271,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of MRVL. BlackRock Inc. increased its position in shares of Marvell Technology Group by 25.6% during the 4th quarter. BlackRock Inc. now owns 58,521,126 shares of the semiconductor company’s stock worth $2,782,095,000 after purchasing an additional 11,925,661 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in shares of Marvell Technology Group by 46.9% during the 3rd quarter. Nuveen Asset Management LLC now owns 17,595,399 shares of the semiconductor company’s stock worth $698,538,000 after acquiring an additional 5,615,471 shares during the period. Allianz Asset Management GmbH boosted its stake in shares of Marvell Technology Group by 73.6% during the 3rd quarter. Allianz Asset Management GmbH now owns 10,458,267 shares of the semiconductor company’s stock worth $415,193,000 after acquiring an additional 4,433,249 shares during the period. First Trust Advisors LP boosted its stake in shares of Marvell Technology Group by 62.5% during the 4th quarter. First Trust Advisors LP now owns 5,484,468 shares of the semiconductor company’s stock worth $260,732,000 after acquiring an additional 2,108,734 shares during the period. Finally, FMR LLC boosted its stake in shares of Marvell Technology Group by 1.4% during the 4th quarter. FMR LLC now owns 100,768,315 shares of the semiconductor company’s stock worth $4,790,526,000 after acquiring an additional 1,375,897 shares during the period. 87.32% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have recently commented on MRVL shares. B. Riley lifted their target price on Marvell Technology Group from $48.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, November 30th. Piper Sandler boosted their price target on Marvell Technology Group from $50.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, January 13th. UBS Group boosted their price target on Marvell Technology Group from $47.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, December 4th. Credit Suisse Group upped their target price on Marvell Technology Group from $50.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, December 17th. Finally, Morgan Stanley upped their target price on Marvell Technology Group from $42.00 to $44.00 and gave the company an “equal weight” rating in a research report on Monday, December 14th. Five investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $48.46.

In other news, CEO Matthew J. Murphy sold 7,500 shares of the stock in a transaction that occurred on Tuesday, December 15th. The stock was sold at an average price of $44.99, for a total value of $337,425.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jean X. Hu sold 10,587 shares of the stock in a transaction that occurred on Tuesday, December 15th. The stock was sold at an average price of $44.69, for a total value of $473,133.03. Following the completion of the sale, the chief financial officer now directly owns 105,621 shares of the company’s stock, valued at $4,720,202.49. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 91,519 shares of company stock worth $4,458,552. 0.29% of the stock is owned by corporate insiders.

Shares of Marvell Technology Group stock traded down $1.47 on Tuesday, hitting $48.22. 664,443 shares of the company’s stock traded hands, compared to its average volume of 9,305,021. Marvell Technology Group Ltd. has a one year low of $16.45 and a one year high of $55.70. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.42 and a quick ratio of 1.19. The company has a fifty day moving average of $51.31 and a two-hundred day moving average of $43.66. The company has a market capitalization of $32.39 billion, a price-to-earnings ratio of 22.79, a price-to-earnings-growth ratio of 4.41 and a beta of 1.17.

Marvell Technology Group (NASDAQ:MRVL) last announced its earnings results on Wednesday, December 2nd. The semiconductor company reported $0.25 EPS for the quarter, meeting the consensus estimate of $0.25. Marvell Technology Group had a return on equity of 3.76% and a net margin of 51.19%. The company had revenue of $750.10 million for the quarter, compared to analyst estimates of $751.01 million. During the same quarter in the prior year, the company earned $0.17 EPS. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. Equities research analysts anticipate that Marvell Technology Group Ltd. will post 0.58 earnings per share for the current 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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Institutional Ownership by Quarter for Marvell Technology Group (NASDAQ:MRVL)

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