Marvell Technology Group Ltd. (NASDAQ:MRVL) major shareholder Sehat Sutardja sold 1,842,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $18.52, for a total value of $34,123,100.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

  • On Monday, October 2nd, Sehat Sutardja sold 1,422,500 shares of Marvell Technology Group stock. The stock was sold at an average price of $18.52, for a total value of $26,344,700.00.
  • On Friday, September 29th, Sehat Sutardja sold 93,895 shares of Marvell Technology Group stock. The stock was sold at an average price of $18.02, for a total value of $1,691,987.90.
  • On Monday, September 18th, Sehat Sutardja sold 552,500 shares of Marvell Technology Group stock. The stock was 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 stock was 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 stock was 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 stock was 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) opened at 18.37 on Friday. Marvell Technology Group Ltd. has a 52 week low of $12.30 and a 52 week high of $18.72. The company has a 50 day moving average of $17.49 and a 200 day moving average of $16.42. The company has a market cap of $9.11 billion, a PE ratio of 35.60 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 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.03). The company had revenue of $604.75 million for the quarter, compared to analysts’ expectations of $600.76 million. Marvell Technology Group had a net margin of 10.97% and a return on equity of 9.99%. The business’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.18 EPS. On average, analysts expect that Marvell Technology Group Ltd. will post $1.12 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 26th. Investors of record on Tuesday, October 10th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date is Friday, October 6th. Marvell Technology Group’s payout ratio is presently 47.06%.

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A number of brokerages have recently issued reports on MRVL. KeyCorp restated a “buy” rating and set a $25.00 price objective on shares of Marvell Technology Group in a report on Wednesday. B. Riley reiterated a “buy” rating and issued a $24.00 price target on shares of Marvell Technology Group in a research report on Monday, September 25th. BMO Capital Markets reiterated a “market perform” rating and issued a $16.00 price target on shares of Marvell Technology Group in a research report on Monday, August 28th. Loop Capital reiterated a “buy” rating and issued a $22.00 price target on shares of Marvell Technology Group in a research report on Friday, August 25th. Finally, Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $23.00 price target on shares of Marvell Technology Group in a research report on Friday, August 25th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $19.31.

Large investors have recently modified their holdings of the stock. D.A. Davidson & CO. raised its position in Marvell Technology Group by 10.2% in the 2nd quarter. D.A. Davidson & CO. now owns 6,461 shares of the semiconductor company’s stock worth $106,000 after purchasing an additional 600 shares during the period. Tower Research Capital LLC TRC raised its position in Marvell Technology Group by 1,740.4% in the 1st quarter. Tower Research Capital LLC TRC now owns 7,969 shares of the semiconductor company’s stock worth $122,000 after purchasing an additional 7,536 shares during the period. Creative Planning raised its position in Marvell Technology Group by 39.8% in the 2nd quarter. Creative Planning now owns 10,008 shares of the semiconductor company’s stock worth $165,000 after purchasing an additional 2,850 shares during the period. United Capital Financial Advisers LLC purchased a new position in Marvell Technology Group in the 1st quarter worth $165,000. Finally, Achmea Investment Management B.V. purchased a new position in Marvell Technology Group in the 2nd quarter worth $214,000. Institutional investors own 76.61% of the company’s stock.

About Marvell Technology Group

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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