November 29, 2016 - By Ruchi Gupta · 0 Comments
Marvell Technology Group LTD (NASDAQ:MRVL) institutional sentiment decreased to 1.07 in 2016 Q2. Its down -0.29, from 1.36 in 2016Q1. The ratio is negative, as 140 active investment managers increased and started new holdings, while 103 trimmed and sold equity positions in Marvell Technology Group LTD. The active investment managers in our partner’s database reported: 352.60 million shares, down from 362.56 million shares in 2016Q1. Also, the number of active investment managers holding Marvell Technology Group LTD in their top 10 holdings increased from 6 to 8 for an increase of 2. Sold All: 22 Reduced: 81 Increased: 99 New Position: 41.
Marvell Technology Group Ltd. is a fabless semiconductor well-known provider of application-specific standard products. The company has a market cap of $7.27 billion. The Firm is engaged in the design, development and sale of integrated circuits. It currently has negative earnings. The Firm develops System-on-a-Chip and System-in-a-Package (SiP) devices.
About 2.83M shares traded hands. Marvell Technology Group Ltd. (NASDAQ:MRVL) has risen 45.38% since April 26, 2016 and is uptrending. It has outperformed by 40.12% the S&P500.
Analysts await Marvell Technology Group Ltd. (NASDAQ:MRVL) to report earnings on July, 18. They expect $0.08 EPS, up 60.00% or $0.03 from last year’s $0.05 per share. MRVL’s profit will be $40.47 million for 44.91 P/E if the $0.08 EPS becomes a reality. After $0.15 actual EPS reported by Marvell Technology Group Ltd. for the previous quarter, Wall Street now forecasts -46.67% negative EPS growth.
According to Zacks Investment Research, “Marvell Technology is a leading designer, developer and supplier of mixed-signal and digital signal processing integrated circuit for high-speed, high-density, digital data storage and broadband digital data networking markets. The company’s goal is to continue to support its customers in providing faster, better solutions to meet their customers’ needs for increased bandwidth as communication solutions evolve. The company meets this goal with state-of-the-art chip solutions that enable data transfer in data storage devices and networking applications.”
Starboard Value Lp holds 6.88% of its portfolio in Marvell Technology Group Ltd. for 20.40 million shares. Contour Asset Management Llc owns 8.79 million shares or 5.68% of their US portfolio. Moreover, 13D Management Llc has 4.96% invested in the company for 1.27 million shares. The New York-based Altalis Capital Management Llc has invested 4.54% in the stock. Shannon River Fund Management Llc, a New York-based fund reported 1.63 million shares.#img1#
Ratings analysis reveals 33% of Marvell Technology Group’s analysts are positive. Out of 24 Wall Street analysts rating Marvell Technology Group, 8 give it “Buy”, 3 “Sell” rating, while 13 recommend “Hold”. The lowest target is $6 while the high is $18. The stock’s average target of $10.96 is -23.73% below today’s ($14.37) share price. MRVL was included in 55 notes of analysts from August 5, 2015. Jefferies maintained it with “Hold” rating and $10 target price in Monday, September 14 report. FBR Capital maintained the stock with “Mkt Perform” rating in Friday, September 25 report. The stock has “Neutral” rating given by Susquehanna on Friday, September 11. As per Wednesday, April 6, the company rating was downgraded by Standpoint Research. BMO Capital Markets maintained Marvell Technology Group Ltd. (NASDAQ:MRVL) rating on Monday, September 14. BMO Capital Markets has “Market Perform” rating and $9 price target. The stock of Marvell Technology Group Ltd. (NASDAQ:MRVL) earned “Neutral” rating by B. Riley & Co on Monday, September 14. The rating was downgraded by Citigroup on Wednesday, October 28 to “Sell”. The firm has “Hold” rating given on Wednesday, April 6 by Deutsche Bank. The firm has “Hold” rating by Benchmark given on Tuesday, October 27. Morgan Stanley maintained the stock with “Equal-Weight” rating in Friday, September 25 report.
Marvell Technology Group Ltd., incorporated on January 11, 1995, is a fabless semiconductor well-known provider of application-specific standard products. The Firm is engaged in the design, development and sale of integrated circuits. The Firm develops System-on-a-Chip (SoC) and System-in-a-Package (SiP) devices. The Company’s product portfolio includes devices for data storage, enterprise-class Ethernet data switching, Ethernet physical-layer transceivers (PHY), wireless connectivity, Internet-of-Things (IoT) devices and multimedia solutions. The Company’s products serve various applications used in carrier, metropolitan, enterprise and personal computer (PC)-client data communications, and storage systems. In addition, the Company serves the consumer electronics market for the convergence of voice, video and data applications. The Firm relies on independent, third-party contractors to perform manufacturing, assembly and test functions. The Firm offers its products to sectors, including storage, networking, and mobile and wireless.
More recent Marvell Technology Group Ltd. (NASDAQ:MRVL) news were published by: Prnewswire.com which released: “Marvell Technology Group Ltd. Reports Third Quarter of Fiscal 2017 Financial …” on November 17, 2016. Also Prnewswire.com published the news titled: “Marvell Technology Group Ltd. Announces Restructuring Actions to Drive Growth …” on November 02, 2016. Prnewswire.com‘s news article titled: “Marvell Technology Group Ltd. Announces Appointment of Karen Rohde as Chief …” with publication date: November 21, 2016 was also an interesting one.
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By Ruchi Gupta