Marvell Technology Group Ltd. (NASDAQ:MRVL) major shareholder Sehat Sutardja sold 1,000,000 shares of the stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $17.73, for a total transaction of $17,730,000.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Major shareholders that own more than 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 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 transaction 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 transaction of $8,571,691.63.
  • On Tuesday, September 12th, Sehat Sutardja sold 1,042,343 shares of Marvell Technology Group stock. The shares were sold at an average price of $17.46, for a total transaction of $18,199,308.78.
  • On Thursday, September 7th, Sehat Sutardja sold 537,235 shares of Marvell Technology Group stock. The shares were sold at an average price of $17.57, for a total transaction of $9,439,218.95.
  • On Wednesday, September 6th, Sehat Sutardja sold 420,422 shares of Marvell Technology Group stock. The shares were sold at an average price of $17.84, for a total transaction of $7,500,328.48.

Shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) traded up 0.33% during midday trading on Friday, reaching $18.34. 7,434,738 shares of the company’s stock were exchanged. Marvell Technology Group Ltd. has a one year low of $12.30 and a one year high of $18.56. The stock has a market cap of $9.09 billion, a P/E ratio of 35.54 and a beta of 1.10. The company’s 50-day moving average is $16.42 and its 200-day moving average is $16.19.

Marvell Technology Group (NASDAQ:MRVL) last announced its quarterly earnings results on Thursday, August 24th. The semiconductor company reported $0.25 earnings per share (EPS) for the quarter, missing the Zacks’ 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 company 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 earnings per share. The company’s revenue was up 16.4% compared to the same quarter last year. Equities analysts expect that Marvell Technology Group Ltd. will post $1.12 earnings per share for the current fiscal year.

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MRVL has been the topic of several research analyst reports. CIBC upgraded shares of Marvell Technology Group from a “market perform” rating to an “outperform” rating in a research note on Friday, May 26th. BidaskClub cut shares of Marvell Technology Group from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. Jefferies Group LLC restated a “hold” rating and set a $18.50 target price (down previously from $19.00) on shares of Marvell Technology Group in a research note on Thursday, August 24th. Needham & Company LLC restated a “buy” rating and set a $21.00 target price on shares of Marvell Technology Group in a research note on Thursday, August 24th. Finally, TheStreet upgraded shares of Marvell Technology Group from a “c” rating to a “b” rating in a research note on Thursday, May 25th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $18.93.

Hedge funds have recently made changes to their positions in the company. D.A. Davidson & CO. raised its stake in shares of Marvell Technology Group by 10.2% during the 2nd 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 during the period. Tower Research Capital LLC TRC raised its stake in shares of Marvell Technology Group by 1,740.4% during the 1st quarter. Tower Research Capital LLC TRC now owns 7,969 shares of the semiconductor company’s stock worth $122,000 after buying an additional 7,536 shares during the period. Creative Planning raised its stake in shares of Marvell Technology Group by 39.8% during the 2nd quarter. Creative Planning now owns 10,008 shares of the semiconductor company’s stock worth $165,000 after buying an additional 2,850 shares during the period. United Capital Financial Advisers LLC acquired a new position in shares of Marvell Technology Group during the 1st quarter worth approximately $165,000. Finally, Achmea Investment Management B.V. acquired a new position in shares of Marvell Technology Group during the 2nd quarter worth approximately $214,000. 76.67% of the stock is owned by institutional investors and hedge funds.

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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