As Marvell Technology Group LTD (MRVL) Stock Value Rose, Shannon River Fund Management LLC Has Cut by $5.94 Million Its Stake

February 15, 2018 - By Louis Casey

Investors sentiment decreased to 1.1 in 2017 Q3. Its down 0.05, from 1.15 in 2017Q2. It dived, as 34 investors sold MRVL shares while 102 reduced holdings. 44 funds opened positions while 106 raised stakes. 376.98 million shares or 2.13% more from 369.12 million shares in 2017Q2 were reported. First Mercantile reported 45,900 shares. Arrowstreet Capital Partnership reported 0.06% in Marvell Technology Group Ltd. (NASDAQ:MRVL). Moreover, Yhb Investment Advsrs has 0.06% invested in Marvell Technology Group Ltd. (NASDAQ:MRVL). Loomis Sayles Lp, Massachusetts-based fund reported 773,376 shares. Zacks Invest Management stated it has 70,794 shares or 0.03% of all its holdings. Timessquare Cap Management Limited Liability accumulated 0.54% or 4.49 million shares. Westpac holds 26,208 shares. Pub Employees Retirement Association Of Colorado has invested 0.01% in Marvell Technology Group Ltd. (NASDAQ:MRVL). 118,704 are held by Nomura Holdg. Rainier Inv Management Ltd Liability Company has 248,840 shares. Perella Weinberg Partners Capital Mngmt Lp has invested 0.35% in Marvell Technology Group Ltd. (NASDAQ:MRVL). Cohen Klingenstein Lc owns 19,190 shares or 0.05% of their US portfolio. Kbc Grp Nv has invested 0.07% of its portfolio in Marvell Technology Group Ltd. (NASDAQ:MRVL). Canada Pension Plan Inv Board invested 0.1% in Marvell Technology Group Ltd. (NASDAQ:MRVL). Afam Cap Inc, a Texas-based fund reported 267,181 shares.

Spencer M. Waxman decreased its stake in Marvell Technology Group Ltd (MRVL) by 28.86% based on its latest 2017Q3 regulatory filing with the SEC. Shannon River Fund Management Llc sold 349,652 shares as the company’s stock rose 1.27% with the market. The hedge fund run by Spencer M. Waxman held 861,698 shares of the semiconductors company at the end of 2017Q3, valued at $15.42 million, down from 1.21M at the end of the previous reported quarter. Shannon River Fund Management Llc who had been investing in Marvell Technology Group Ltd for a number of months, seems to be less bullish one the $11.20 billion market cap company. The stock increased 1.48% or $0.33 during the last trading session, reaching $22.59. About 4.07M shares traded. Marvell Technology Group Ltd. (NASDAQ:MRVL) has risen 64.54% since February 15, 2017 and is uptrending. It has outperformed by 47.84% the S&P500.

Shannon River Fund Management Llc, which manages about $2.55B and $305.64M US Long portfolio, upped its stake in Bottomline Tech Del Inc (NASDAQ:EPAY) by 444,126 shares to 984,374 shares, valued at $31.33M in 2017Q3, according to the filing.

Analysts await Marvell Technology Group Ltd. (NASDAQ:MRVL) to report earnings on March, 1. They expect $0.27 earnings per share, up 50.00 % or $0.09 from last year’s $0.18 per share. MRVL’s profit will be $133.90 million for 20.92 P/E if the $0.27 EPS becomes a reality. After $0.30 actual earnings per share reported by Marvell Technology Group Ltd. for the previous quarter, Wall Street now forecasts -10.00 % negative EPS growth.

More important recent Marvell Technology Group Ltd. (NASDAQ:MRVL) news were published by: Nasdaq.com which released: “March 29th Options Now Available For Marvell Technology Group (MRVL)” on February 08, 2018, also Benzinga.com published article titled: “BofA: Three Semiconductor Picks In A Choppy Market”, Streetinsider.com published: “MARVELL TECHNOLOGY GROUP LTD.” on January 29, 2018. More interesting news about Marvell Technology Group Ltd. (NASDAQ:MRVL) was released by: Prnewswire.com and their article: “Marvell Technology Group Ltd. Announces Conference Call to Review Fourth …” with publication date: February 13, 2018.

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

Among 36 analysts covering Marvell Technology Group (NASDAQ:MRVL), 23 have Buy rating, 1 Sell and 12 Hold. Therefore 64% are positive. Marvell Technology Group had 115 analyst reports since August 5, 2015 according to SRatingsIntel. As per Monday, December 5, the company rating was downgraded by Goldman Sachs. Cowen & Co maintained the shares of MRVL in report on Monday, November 6 with “Buy” rating. The firm has “Sell” rating by Citigroup given on Wednesday, October 28. The company was maintained on Monday, July 10 by Jefferies. The rating was upgraded by KeyBanc Capital Markets to “Buy” on Tuesday, June 20. The firm has “Buy” rating by Loop Capital given on Tuesday, December 6. The stock has “Hold” rating by Stifel Nicolaus on Thursday, May 25. The stock of Marvell Technology Group Ltd. (NASDAQ:MRVL) has “Neutral” rating given on Monday, October 12 by Nomura. The stock has “Hold” rating by Brean Capital on Friday, September 11. On Friday, September 11 the stock rating was downgraded by FBR Capital to “Mkt Perform”.

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