Insider Selling: Marvell Technology Group VP Sells 120,000 Shares of Stock (MRVL)
Marvell Technology Group (NASDAQ:MRVL) VP Pantas Sutardja unloaded 120,000 shares of the company’s stock on the open market in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $14.18, for a total transaction of $1,701,600.00. The transaction was disclosed in a filing with the SEC, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Zacks upgraded shares of Marvell Technology Group from a “neutral” rating to an “outperform” rating in a research note to investors on Wednesday, December 25th. They now have a $14.90 price target on the stock. Separately, analysts at FBR Capital Markets raised their price target on shares of Marvell Technology Group from $14.00 to $15.00 in a research note to investors on Friday, November 22nd. Finally, analysts at Needham & Company raised their price target on shares of Marvell Technology Group from $15.00 to $17.50 in a research note to investors on Friday, November 22nd. They now have a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $14.22.
Shares of Marvell Technology Group (NASDAQ:MRVL) traded down 0.07% during mid-day trading on Friday, hitting $14.16. The stock had a trading volume of 2,691,358 shares. Marvell Technology Group has a one year low of $7.42 and a one year high of $14.64. The stock has a 50-day moving average of $13.77 and a 200-day moving average of $12.53. The company has a market cap of $6.965 billion and a price-to-earnings ratio of 27.57.
Marvell Technology Group (NASDAQ:MRVL) last released its earnings data on Thursday, November 21st. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.07. The company had revenue of $931.00 million for the quarter, compared to the consensus estimate of $872.80 million. During the same quarter in the previous year, the company posted $0.20 earnings per share. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. Analysts expect that Marvell Technology Group will post $0.99 EPS for the current fiscal year.
Marvell Technology Group Ltd. (NASDAQ:MRVL) is a fabless semiconductor provider of application-specific standard products.
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