Janney Montgomery Scott LLC lessened its holdings in Marvell Technology Group Ltd. (NASDAQ:MRVL) by 18.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 30,403 shares of the semiconductor company’s stock after selling 6,731 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Marvell Technology Group were worth $544,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Krilogy Financial LLC lifted its holdings in shares of Marvell Technology Group by 1.6% during the second quarter. Krilogy Financial LLC now owns 15,600 shares of the semiconductor company’s stock worth $258,000 after purchasing an additional 250 shares during the period. Utah Retirement Systems lifted its holdings in shares of Marvell Technology Group by 0.4% during the second quarter. Utah Retirement Systems now owns 73,725 shares of the semiconductor company’s stock worth $1,218,000 after purchasing an additional 300 shares during the period. M&T Bank Corp lifted its holdings in shares of Marvell Technology Group by 1.3% during the second quarter. M&T Bank Corp now owns 30,943 shares of the semiconductor company’s stock worth $512,000 after purchasing an additional 402 shares during the period. D.A. Davidson & CO. lifted its holdings in shares of Marvell Technology Group by 10.2% during the second quarter. D.A. Davidson & CO. now owns 6,461 shares of the semiconductor company’s stock worth $106,000 after purchasing an additional 600 shares during the period. Finally, Prudential Financial Inc. lifted its holdings in shares of Marvell Technology Group by 6.1% during the second quarter. Prudential Financial Inc. now owns 29,640 shares of the semiconductor company’s stock worth $490,000 after purchasing an additional 1,700 shares during the period. 78.70% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts recently commented on the company. Piper Jaffray Companies assumed coverage on Marvell Technology Group in a report on Monday, December 18th. They set an “overweight” rating and a $25.00 target price for the company. Morgan Stanley lifted their target price on Marvell Technology Group from $20.50 to $22.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 13th. BidaskClub downgraded Marvell Technology Group from a “buy” rating to a “hold” rating in a report on Saturday, December 2nd. Oppenheimer reaffirmed a “buy” rating and set a $30.00 target price on shares of Marvell Technology Group in a report on Wednesday, November 29th. Finally, Loop Capital reaffirmed a “buy” rating and set a $28.00 target price on shares of Marvell Technology Group in a report on Wednesday, November 29th. Eight analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. Marvell Technology Group currently has a consensus rating of “Buy” and a consensus target price of $23.92.

In other news, insider Marvell Semiconductor, Inc. Ca sold 9,812 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $21.20, for a total value of $208,014.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Sehat Sutardja sold 2,727,810 shares of the business’s stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $18.49, for a total value of $50,437,206.90. The disclosure for this sale can be found here. Insiders sold 12,148,004 shares of company stock valued at $224,837,926 over the last 90 days. Company insiders own 6.80% of the company’s stock.

Marvell Technology Group Ltd. (MRVL) opened at $22.01 on Tuesday. Marvell Technology Group Ltd. has a twelve month low of $13.83 and a twelve month high of $24.22. The stock has a market capitalization of $10,790.00, a P/E ratio of 38.61, a price-to-earnings-growth ratio of 1.33 and a beta of 1.13.

Marvell Technology Group (NASDAQ:MRVL) last posted its quarterly earnings data on Tuesday, November 28th. The semiconductor company reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.01. The business had revenue of $616.00 million during the quarter, compared to analysts’ expectations of $613.49 million. Marvell Technology Group had a return on equity of 14.91% and a net margin of 24.23%. The business’s revenue was down 5.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.20 earnings per share. research analysts anticipate that Marvell Technology Group Ltd. will post 1.01 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Wednesday, December 27th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend is Tuesday, December 26th. Marvell Technology Group’s dividend payout ratio (DPR) is presently 42.11%.

ILLEGAL ACTIVITY WARNING: “Marvell Technology Group Ltd. (MRVL) Holdings Trimmed by Janney Montgomery Scott LLC” was originally reported by TheOlympiaReport and is owned by of TheOlympiaReport. If you are viewing this piece of content on another domain, it was illegally copied and republished in violation of U.S. & international copyright and trademark legislation. The legal version of this piece of content can be accessed at https://theolympiareport.com/2017/12/26/marvell-technology-group-ltd-mrvl-holdings-trimmed-by-janney-montgomery-scott-llc.html.

Marvell Technology Group Company Profile

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.

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.