Marvell Technology Group CFO Michael Rashkin Unloads 4,324 Shares (MRVL)
Marvell Technology Group (NASDAQ:MRVL) CFO Michael Rashkin unloaded 4,324 shares of Marvell Technology Group stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $14.07, for a total transaction of $60,838.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Marvell Technology Group (NASDAQ:MRVL) traded up 1.48% on Wednesday, hitting $14.39. The stock had a trading volume of 5,846,506 shares. Marvell Technology Group has a 52-week low of $10.87 and a 52-week high of $16.65. The stock has a 50-day moving average of $14.85 and a 200-day moving average of $15.25. The company has a market cap of $7.313 billion and a price-to-earnings ratio of 19.94. Marvell Technology Group also saw unusually large options trading activity on Tuesday. Stock investors purchased 12,928 call options on the stock. This represents an increase of approximately 500% compared to the typical daily volume of 2,153 call options.
Marvell Technology Group (NASDAQ:MRVL) last released its earnings data on Thursday, May 22nd. The company reported $0.27 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.22 by $0.05. The company had revenue of $957.83 million for the quarter, compared to the consensus estimate of $892.25 million. During the same quarter in the prior year, the company posted $0.19 earnings per share. The company’s quarterly revenue was up 30.4% on a year-over-year basis. On average, analysts predict that Marvell Technology Group will post $1.16 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Oppenheimer downgraded shares of Marvell Technology Group from a “market perform” rating to an “underperform” rating in a research note on Wednesday, July 9th. Separately, analysts at Susquehanna downgraded shares of Marvell Technology Group from a “positive” rating to a “neutral” rating in a research note on Friday, June 13th. They now have a $16.00 price target on the stock, down previously from $19.00. Finally, analysts at Nomura upgraded shares of Marvell Technology Group from a “neutral” rating to a “buy” rating in a research note on Wednesday, June 11th. They now have a $19.00 price target on the stock, up previously from $15.00. One analyst has rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $16.62.
Marvell Technology Group Ltd. (NASDAQ:MRVL) is a fabless semiconductor provider of application-specific standard products.
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