As Marvell Technology Group LTD (MRVL) Shares Declined, Roystone Capital Management LP Trimmed Position by $3.26 Million

August 26, 2018 - By Nellie Rakes

Marvell Technology Group Ltd. (NASDAQ:MRVL) LogoInvestors sentiment decreased to 1.24 in 2018 Q1. Its down 0.01, from 1.25 in 2017Q4. It turned negative, as 34 investors sold MRVL shares while 102 reduced holdings. 61 funds opened positions while 108 raised stakes. 492.53 million shares or 13.41% more from 434.31 million shares in 2017Q4 were reported. Howe And Rusling stated it has 108 shares or 0% of all its holdings. Td Asset invested in 0.09% or 2.74 million shares. Quantitative Systematic Strategies Ltd accumulated 29,070 shares or 0.13% of the stock. Earnest Lc holds 0% of its portfolio in Marvell Technology Group Ltd. (NASDAQ:MRVL) for 145 shares. Massmutual Trust Fsb Adv has 0% invested in Marvell Technology Group Ltd. (NASDAQ:MRVL) for 90 shares. 1,556 are held by Covington Mngmt. Quantitative Investment Management Ltd Llc invested 0.01% in Marvell Technology Group Ltd. (NASDAQ:MRVL). Comerica Bankshares holds 0.07% or 466,757 shares in its portfolio. Royal National Bank & Trust Of Canada holds 285,846 shares. Lombard Odier Asset Mngmt (Switzerland) stated it has 34,832 shares. United Kingdom-based Bp Pcl has invested 0.04% in Marvell Technology Group Ltd. (NASDAQ:MRVL). Qs Invsts Lc invested in 35,343 shares or 0.01% of the stock. Shell Asset Mngmt reported 0.01% in Marvell Technology Group Ltd. (NASDAQ:MRVL). Sei has 0.03% invested in Marvell Technology Group Ltd. (NASDAQ:MRVL) for 401,731 shares. 13D Ltd Llc owns 5.41% invested in Marvell Technology Group Ltd. (NASDAQ:MRVL) for 929,019 shares.

Roystone Capital Management Lp decreased its stake in Marvell Technology Group Ltd (MRVL) by 5.4% based on its latest 2018Q1 regulatory filing with the SEC. Roystone Capital Management Lp sold 163,000 shares as the company’s stock declined 4.13% with the market. The hedge fund held 2.86 million shares of the semiconductors company at the end of 2018Q1, valued at $59.98 million, down from 3.02M at the end of the previous reported quarter. Roystone Capital Management Lp who had been investing in Marvell Technology Group Ltd for a number of months, seems to be less bullish one the $13.40 billion market cap company. The stock increased 1.24% or $0.25 during the last trading session, reaching $20.49. About 3.25 million shares traded. Marvell Technology Group Ltd. (NASDAQ:MRVL) has risen 32.76% since August 26, 2017 and is uptrending. It has outperformed by 20.19% the S&P500.

Roystone Capital Management Lp, which manages about $1.66 billion and $1.12 billion US Long portfolio, upped its stake in Centene Corp Del (NYSE:CNC) by 453,200 shares to 520,000 shares, valued at $55.57M in 2018Q1, according to the filing. It also increased its holding in Broadcom Ltd by 25,000 shares in the quarter, for a total of 223,300 shares, and has risen its stake in Ulta Beauty Inc (NASDAQ:ULTA).

Analysts await Marvell Technology Group Ltd. (NASDAQ:MRVL) to report earnings on September, 6 after the close. They expect $0.29 earnings per share, up 16.00 % or $0.04 from last year’s $0.25 per share. MRVL’s profit will be $189.58 million for 17.66 P/E if the $0.29 EPS becomes a reality. After $0.28 actual earnings per share reported by Marvell Technology Group Ltd. for the previous quarter, Wall Street now forecasts 3.57 % EPS growth.

Marvell Technology Group Ltd. (NASDAQ:MRVL) Ratings Coverage

Among 15 analysts covering Marvell (NASDAQ:MRVL), 13 have Buy rating, 0 Sell and 2 Hold. Therefore 87% are positive. Marvell had 18 analyst reports since March 5, 2018 according to SRatingsIntel. The firm earned “Buy” rating on Wednesday, June 27 by Deutsche Bank. The stock of Marvell Technology Group Ltd. (NASDAQ:MRVL) has “Buy” rating given on Friday, July 6 by UBS. As per Monday, March 5, the company rating was maintained by FBR Capital. The firm has “Buy” rating given on Wednesday, March 7 by Susquehanna. The firm earned “Buy” rating on Friday, March 9 by Oppenheimer. On Friday, March 9 the stock rating was maintained by Cowen & Co with “Buy”. The rating was maintained by Jefferies on Friday, March 9 with “Buy”. As per Thursday, March 8, the company rating was maintained by Piper Jaffray. The firm has “Buy” rating by KeyBanc Capital Markets given on Monday, March 19. The rating was maintained by Stifel Nicolaus on Thursday, March 8 with “Hold”.

Marvell Technology Group Ltd. (NASDAQ:MRVL) Ratings Chart

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