Marvell Technology Group Ltd. (NASDAQ:MRVL) major shareholder Sehat Sutardja sold 1,422,500 shares of Marvell Technology Group stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $18.52, for a total value of $26,344,700.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

  • On Tuesday, October 3rd, Sehat Sutardja sold 1,842,500 shares of Marvell Technology Group stock. The shares were sold at an average price of $18.52, for a total value of $34,123,100.00.
  • 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. (MRVL) traded down 0.621% during mid-day trading on Thursday, reaching $18.395. The company had a trading volume of 1,175,892 shares. The company’s 50-day moving average is $17.43 and its 200 day moving average is $16.41. 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 P/E ratio of 35.649 and a beta of 1.13.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 26th. Investors of record on Tuesday, October 10th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.30%. The ex-dividend date is Friday, October 6th. Marvell Technology Group’s payout ratio is presently 47.06%.

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Hedge funds have recently added to or reduced their stakes in the stock. D.A. Davidson & CO. lifted its stake in shares of 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 valued at $106,000 after purchasing an additional 600 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of 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 valued at $122,000 after purchasing an additional 7,536 shares during the last quarter. Creative Planning lifted its stake in shares of Marvell Technology Group by 39.8% in the 2nd quarter. Creative Planning now owns 10,008 shares of the semiconductor company’s stock valued at $165,000 after purchasing an additional 2,850 shares during the last quarter. United Capital Financial Advisers LLC acquired a new stake in shares of Marvell Technology Group in the 1st quarter valued at $165,000. Finally, Achmea Investment Management B.V. acquired a new stake in shares of Marvell Technology Group in the 2nd quarter valued at $214,000. 76.61% of the stock is owned by institutional investors and hedge funds.

Several research firms have recently weighed in on MRVL. B. Riley reissued a “buy” rating and issued a $23.00 target price on shares of Marvell Technology Group in a report on Friday, September 1st. KeyCorp reissued a “buy” rating and issued a $25.00 target price on shares of Marvell Technology Group in a report on Wednesday. BidaskClub raised Marvell Technology Group from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 16th. Cowen and Company reissued a “buy” rating and issued a $21.00 target price on shares of Marvell Technology Group in a report on Monday, August 21st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $21.00 target price on shares of Marvell Technology Group in a report on Thursday, August 24th. Two 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 an average rating of “Buy” and an average price target of $19.31.

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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