Nicholas Investment Partners LP grew its position in shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) by 44.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 184,945 shares of the semiconductor company’s stock after buying an additional 57,167 shares during the period. Nicholas Investment Partners LP’s holdings in Marvell Technology Group were worth $3,311,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Greenwood Capital Associates LLC lifted its holdings in Marvell Technology Group by 37.0% during the 2nd quarter. Greenwood Capital Associates LLC now owns 18,900 shares of the semiconductor company’s stock worth $312,000 after buying an additional 5,105 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Marvell Technology Group by 9.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 547,334 shares of the semiconductor company’s stock worth $9,042,000 after purchasing an additional 47,648 shares during the period. Jennison Associates LLC acquired a new stake in shares of Marvell Technology Group during the 2nd quarter worth approximately $36,663,000. Teton Advisors Inc. raised its position in shares of Marvell Technology Group by 14.7% during the 3rd quarter. Teton Advisors Inc. now owns 71,700 shares of the semiconductor company’s stock worth $1,283,000 after purchasing an additional 9,200 shares during the period. Finally, Seven Eight Capital LP raised its position in shares of Marvell Technology Group by 41.3% during the 2nd quarter. Seven Eight Capital LP now owns 228,974 shares of the semiconductor company’s stock worth $3,783,000 after purchasing an additional 66,900 shares during the period. 78.84% of the stock is currently owned by institutional investors.

In other news, insider Marvell Semiconductor, Inc. Ca sold 9,812 shares of Marvell Technology Group stock in a transaction on Friday, December 1st. The stock was sold at an average price of $21.20, for a total transaction of $208,014.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Sehat Sutardja sold 492,343 shares of Marvell Technology Group stock in a transaction on Monday, September 11th. The shares were sold at an average price of $17.41, for a total value of $8,571,691.63. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,147,425 shares of company stock worth $313,545,970. 6.80% of the stock is owned by insiders.

A number of analysts have recently weighed in on the company. Cowen reiterated an “outperform” rating and set a $29.00 price target (up from $21.00) on shares of Marvell Technology Group in a research report on Monday, November 27th. BMO Capital Markets increased their price target on Marvell Technology Group to $25.00 and gave the stock a “market perform” rating in a research report on Monday, November 27th. Credit Suisse Group reiterated an “outperform” rating and set a $30.00 price target (up from $22.00) on shares of Marvell Technology Group in a research report on Tuesday, November 28th. Oppenheimer increased their price target on Marvell Technology Group from $23.00 to $30.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 21st. Finally, Stifel Nicolaus increased their price target on Marvell Technology Group from $16.00 to $19.00 and gave the stock a “hold” rating in a research report on Wednesday, November 29th. Eight investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $23.48.

Shares of Marvell Technology Group Ltd. (NASDAQ MRVL) opened at $21.97 on Wednesday. Marvell Technology Group Ltd. has a 1 year low of $13.83 and a 1 year high of $24.22. The company has a market capitalization of $10,953.76, a P/E ratio of 23.98, a P/E/G ratio of 1.35 and a beta of 1.13.

Marvell Technology Group (NASDAQ:MRVL) last posted its earnings results on Tuesday, November 28th. The semiconductor company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.33 by $0.01. Marvell Technology Group had a return on equity of 11.99% and a net margin of 16.53%. The firm had revenue of $616.00 million for the quarter, compared to analysts’ expectations of $613.49 million. During the same period last year, the firm earned $0.20 EPS. The firm’s revenue was down 5.8% compared to the same quarter last year. research analysts forecast that Marvell Technology Group Ltd. will post 1.01 EPS for the current year.

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About Marvell Technology Group

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.

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

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