Marvell Technology Group Ltd. (NASDAQ:MRVL) major shareholder Sehat Sutardja sold 492,343 shares of Marvell Technology Group stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $17.41, for a total transaction of $8,571,691.63. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Sehat Sutardja also recently made the following trade(s):

  • On Tuesday, September 12th, Sehat Sutardja sold 1,042,343 shares of Marvell Technology Group stock. The shares were sold at an average price of $17.46, for a total transaction of $18,199,308.78.
  • On Thursday, September 7th, Sehat Sutardja sold 537,235 shares of Marvell Technology Group stock. The shares were sold at an average price of $17.57, for a total transaction of $9,439,218.95.
  • On Wednesday, September 6th, Sehat Sutardja sold 420,422 shares of Marvell Technology Group stock. The shares were sold at an average price of $17.84, for a total transaction of $7,500,328.48.

Shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) traded up 1.25% during trading on Wednesday, hitting $17.82. 6,072,044 shares of the company were exchanged. The stock has a market cap of $8.84 billion, a P/E ratio of 34.53 and a beta of 1.10. The company’s 50-day moving average price is $16.31 and its 200 day moving average price is $16.17. Marvell Technology Group Ltd. has a 12 month low of $12.25 and a 12 month high of $18.18.

Marvell Technology Group (NASDAQ:MRVL) last released its quarterly earnings results on Thursday, August 24th. The semiconductor company reported $0.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.03). The firm had revenue of $604.75 million for the quarter, compared to analyst estimates of $600.76 million. Marvell Technology Group had a net margin of 10.97% and a return on equity of 9.99%. Marvell Technology Group’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.18 earnings per share. On average, equities analysts predict that Marvell Technology Group Ltd. will post $1.12 earnings per share for the current fiscal year.

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Several research firms have recently commented on MRVL. B. Riley reaffirmed a “buy” rating and set a $23.00 price target on shares of Marvell Technology Group in a research report on Friday, September 1st. BMO Capital Markets reaffirmed a “market perform” rating and set a $16.00 price target on shares of Marvell Technology Group in a research report on Monday, August 28th. Loop Capital reaffirmed a “buy” rating and set a $22.00 price target on shares of Marvell Technology Group in a research report on Friday, August 25th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and set a $23.00 price target on shares of Marvell Technology Group in a research report on Friday, August 25th. Finally, Northland Securities reaffirmed a “buy” rating and set a $20.00 price target on shares of Marvell Technology Group in a research report on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $18.93.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. ProShare Advisors LLC grew its holdings in Marvell Technology Group by 0.3% during the 1st quarter. ProShare Advisors LLC now owns 27,321 shares of the semiconductor company’s stock valued at $417,000 after purchasing an additional 75 shares in the last quarter. Prudential Financial Inc. grew its holdings in Marvell Technology Group by 0.7% during the 1st quarter. Prudential Financial Inc. now owns 27,940 shares of the semiconductor company’s stock valued at $426,000 after purchasing an additional 200 shares in the last quarter. Krilogy Financial LLC grew its holdings in Marvell Technology Group by 1.6% during the 2nd quarter. Krilogy Financial LLC now owns 15,600 shares of the semiconductor company’s stock valued at $258,000 after purchasing an additional 250 shares in the last quarter. Utah Retirement Systems grew its holdings in Marvell Technology Group by 0.4% during the 2nd quarter. Utah Retirement Systems now owns 73,725 shares of the semiconductor company’s stock valued at $1,218,000 after purchasing an additional 300 shares in the last quarter. Finally, Greenwood Capital Associates LLC grew its holdings in Marvell Technology Group by 2.8% during the 1st quarter. Greenwood Capital Associates LLC now owns 13,795 shares of the semiconductor company’s stock valued at $211,000 after purchasing an additional 380 shares in the last quarter. 76.67% of the stock is owned by institutional investors and hedge funds.

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.

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