Marvell Technology Group Ltd. (NASDAQ:MRVL) major shareholder Sehat Sutardja sold 93,895 shares of the firm’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $18.02, for a total value of $1,691,987.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

  • On Monday, September 18th, Sehat Sutardja sold 552,500 shares of Marvell Technology Group stock. The shares were sold at an average price of $18.53, for a total value of $10,237,825.00.
  • On Wednesday, September 13th, Sehat Sutardja sold 1,000,000 shares of Marvell Technology Group stock. The shares were sold at an average price of $17.73, for a total value of $17,730,000.00.
  • On Thursday, September 14th, Sehat Sutardja sold 1,375,000 shares of Marvell Technology Group stock. The shares were sold at an average price of $17.84, for a total value of $24,530,000.00.
  • On Monday, September 11th, Sehat Sutardja sold 492,343 shares of Marvell Technology Group stock. The shares were sold at an average price of $17.41, for a total value of $8,571,691.63.
  • On Tuesday, September 12th, Sehat Sutardja sold 1,042,343 shares of Marvell Technology Group stock. The stock was sold at an average price of $17.46, for a total value of $18,199,308.78.
  • On Thursday, September 7th, Sehat Sutardja sold 537,235 shares of Marvell Technology Group stock. The stock was sold at an average price of $17.57, for a total value of $9,439,218.95.
  • On Wednesday, September 6th, Sehat Sutardja sold 420,422 shares of Marvell Technology Group stock. The stock was sold at an average price of $17.84, for a total value of $7,500,328.48.

Shares of Marvell Technology Group Ltd. (NASDAQ MRVL) traded up 2.79% during trading on Monday, reaching $18.40. 10,239,412 shares of the company’s stock were exchanged. The stock has a 50 day moving average price of $16.65 and a 200-day moving average price of $16.25. Marvell Technology Group Ltd. has a 52 week low of $12.30 and a 52 week high of $18.72. The stock has a market capitalization of $9.12 billion, a price-to-earnings ratio of 41.82 and a beta of 1.13.

Marvell Technology Group (NASDAQ:MRVL) last posted its quarterly earnings data on Thursday, August 24th. The semiconductor company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.03). The company 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%. The firm’s revenue was up 16.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.18 EPS. Analysts predict that Marvell Technology Group Ltd. will post $1.12 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 26th. Shareholders of record on Tuesday, October 10th will be issued a $0.06 dividend. The ex-dividend date is Friday, October 6th. This represents a $0.24 dividend on an annualized basis and a yield of 1.30%. Marvell Technology Group’s dividend payout ratio (DPR) is 47.06%.

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A number of brokerages recently issued reports on MRVL. B. Riley reissued a “buy” rating and set a $23.00 price target on shares of Marvell Technology Group in a report on Wednesday, June 28th. BidaskClub lowered shares of Marvell Technology Group from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Zacks Investment Research cut shares of Marvell Technology Group from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Cowen and Company reaffirmed a “buy” rating on shares of Marvell Technology Group in a report on Friday, July 14th. Finally, Pacific Crest upgraded shares of Marvell Technology Group from a “sector weight” rating to an “overweight” rating and set a $22.00 price objective for the company in a research report on Tuesday, June 20th. 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 issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $19.22.

Institutional investors have recently added to or reduced their stakes in the business. D.A. Davidson & CO. grew its holdings in shares of Marvell Technology Group by 10.2% during the second quarter. D.A. Davidson & CO. now owns 6,461 shares of the semiconductor company’s stock worth $106,000 after buying an additional 600 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Marvell Technology Group by 1,740.4% in the first quarter. Tower Research Capital LLC TRC now owns 7,969 shares of the semiconductor company’s stock valued at $122,000 after buying an additional 7,536 shares during the last quarter. United Capital Financial Advisers LLC acquired a new position in shares of Marvell Technology Group in the first quarter valued at approximately $165,000. Creative Planning raised its position in shares of Marvell Technology Group by 39.8% in the second quarter. Creative Planning now owns 10,008 shares of the semiconductor company’s stock valued at $165,000 after buying an additional 2,850 shares during the last quarter. Finally, Achmea Investment Management B.V. purchased a new position in shares of Marvell Technology Group during the second quarter valued at approximately $214,000. 76.61% of the stock is currently owned by institutional investors.

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.

Insider Buying and Selling by Quarter for Marvell Technology Group (NASDAQ:MRVL)

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