As Marvell Technology Group LTD (MRVL) Market Value Rose, Jericho Capital Asset Management LP Decreased Stake; Nike Class B (NKE) Shareholder Citizens & Northern Has Upped Its Holding by $308,805 as Market Valuation Declined

February 21, 2018 - By Vivian Park

Josh Resnick decreased its stake in Marvell Technology Group Ltd (MRVL) by 26.08% based on its latest 2017Q3 regulatory filing with the SEC. Jericho Capital Asset Management Lp sold 1.60M shares as the company’s stock rose 1.27% with the market. The hedge fund run by Josh Resnick held 4.55M shares of the semiconductors company at the end of 2017Q3, valued at $81.42M, down from 6.15 million at the end of the previous reported quarter. Jericho Capital Asset Management Lp who had been investing in Marvell Technology Group Ltd for a number of months, seems to be less bullish one the $11.51 billion market cap company. The stock increased 2.29% or $0.52 during the last trading session, reaching $23.2. About 6.18 million shares traded. Marvell Technology Group Ltd. (NASDAQ:MRVL) has risen 64.54% since February 21, 2017 and is uptrending. It has outperformed by 47.84% the S&P500.

Citizens & Northern Corp increased its stake in Nike Inc. Class B (NKE) by 14.35% based on its latest 2017Q3 regulatory filing with the SEC. Citizens & Northern Corp bought 6,055 shares as the company’s stock declined 8.78% while stock markets rallied. The institutional investor held 48,247 shares of the consumer non-durables company at the end of 2017Q3, valued at $2.50M, up from 42,192 at the end of the previous reported quarter. Citizens & Northern Corp who had been investing in Nike Inc. Class B for a number of months, seems to be bullish on the $109.80 billion market cap company. The stock decreased 1.19% or $0.81 during the last trading session, reaching $67.49. About 4.86 million shares traded. NIKE, Inc. (NYSE:NKE) has declined 9.24% since February 21, 2017 and is downtrending. It has underperformed by 25.94% the S&P500.




Jericho Capital Asset Management Lp, which manages about $3.07 billion and $1.76 billion US Long portfolio, upped its stake in Lendingclub Corp (NYSE:LC) by 1.82M shares to 8.41 million shares, valued at $51.24M in 2017Q3, according to the filing. It also increased its holding in 58 Com Inc (NYSE:WUBA) by 141,660 shares in the quarter, for a total of 1.19M shares, and has risen its stake in Universal Display Corp (NASDAQ:OLED).

Investors sentiment decreased to 1.1 in 2017 Q3. Its down 0.05, from 1.15 in 2017Q2. It turned negative, 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. Advisors Asset Mngmt reported 46,576 shares stake. Baker Avenue Asset Mngmt Lp has 0.08% invested in Marvell Technology Group Ltd. (NASDAQ:MRVL). Glenmede Tru Company Na holds 0.01% of its portfolio in Marvell Technology Group Ltd. (NASDAQ:MRVL) for 93,131 shares. Sg Americas Secs Limited reported 0.06% in Marvell Technology Group Ltd. (NASDAQ:MRVL). Srs Investment Management Limited Liability Company, New York-based fund reported 303,792 shares. Hutchin Hill Limited Partnership has 24,985 shares. State Bank Of America De holds 1.37 million shares or 0% of its portfolio. Asset Inc has invested 0.02% in Marvell Technology Group Ltd. (NASDAQ:MRVL). Los Angeles Cap And Equity holds 2.37 million shares or 0.24% of its portfolio. Price T Rowe Assocs Md holds 0.14% or 47.15M shares in its portfolio. Glg Limited Liability Company reported 339,412 shares. Geode Capital Management Limited Liability Company has invested 0.03% in Marvell Technology Group Ltd. (NASDAQ:MRVL). Fjarde Ap holds 0.04% or 126,303 shares. Hoertkorn Richard Charles reported 304,118 shares stake. Moreover, Kingdon Mngmt Ltd has 0.43% invested in Marvell Technology Group Ltd. (NASDAQ:MRVL).

Analysts await Marvell Technology Group Ltd. (NASDAQ:MRVL) to report earnings on March, 8 after the close. They expect $0.27 EPS, up 50.00% or $0.09 from last year’s $0.18 per share. MRVL’s profit will be $133.89 million for 21.48 P/E if the $0.27 EPS becomes a reality. After $0.30 actual EPS reported by Marvell Technology Group Ltd. for the previous quarter, Wall Street now forecasts -10.00% negative EPS growth.

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. The firm earned “Buy” rating on Monday, March 13 by Needham. Susquehanna maintained the stock with “Buy” rating in Monday, November 20 report. The rating was upgraded by Susquehanna to “Positive” on Friday, November 18. The company was maintained on Friday, May 26 by Susquehanna. B. Riley & Co maintained it with “Buy” rating and $23.0 target in Monday, August 21 report. The firm has “Buy” rating by Loop Capital Markets given on Friday, August 25. The stock has “Hold” rating by Jefferies on Monday, July 10. The rating was maintained by Credit Suisse with “Outperform” on Tuesday, November 28. UBS maintained Marvell Technology Group Ltd. (NASDAQ:MRVL) rating on Monday, September 14. UBS has “Neutral” rating and $9.10 target. Oppenheimer maintained Marvell Technology Group Ltd. (NASDAQ:MRVL) on Monday, November 20 with “Buy” rating.

Citizens & Northern Corp, which manages about $131.34 million US Long portfolio, decreased its stake in Home Depot Inc (NYSE:HD) by 2,531 shares to 10,368 shares, valued at $1.70 million in 2017Q3, according to the filing.

Investors sentiment decreased to 0.8 in Q3 2017. Its down 0.20, from 1 in 2017Q2. It worsened, as 87 investors sold NKE shares while 457 reduced holdings. 78 funds opened positions while 358 raised stakes. 985.62 million shares or 0.88% less from 994.42 million shares in 2017Q2 were reported. Sarl reported 0.35% of its portfolio in NIKE, Inc. (NYSE:NKE). Riggs Asset Managment has invested 0.07% in NIKE, Inc. (NYSE:NKE). Bridges reported 29,180 shares. Citizens Northern Corporation owns 48,247 shares for 1.91% of their portfolio. Fiduciary Tru accumulated 228,002 shares. Fulton Retail Bank Na accumulated 58,597 shares. Commonwealth Comml Bank Of Australia owns 105,588 shares. New York-based Estabrook Cap Mgmt has invested 0.43% in NIKE, Inc. (NYSE:NKE). 13,031 were accumulated by Bluecrest Capital Mgmt. Robecosam Ag reported 72,760 shares. Prescott Group Capital Ltd reported 16,800 shares or 0.18% of all its holdings. Eminence Capital LP reported 625,500 shares. Middleton Ma stated it has 0.32% of its portfolio in NIKE, Inc. (NYSE:NKE). 17,918 are held by Carret Asset Ltd Com. Tctc Limited Liability Corporation has 0.03% invested in NIKE, Inc. (NYSE:NKE) for 8,848 shares.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.