Marvell Technology Group Ltd. (NASDAQ:MRVL) major shareholder Sehat Sutardja sold 1,375,000 shares of the stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $17.84, for a total transaction of $24,530,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

  • 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 transaction of $17,730,000.00.
  • 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 transaction 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 transaction 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 transaction 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 transaction of $7,500,328.48.

Shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) traded up 0.33% during mid-day trading on Friday, hitting $18.34. 7,434,738 shares of the stock traded hands. Marvell Technology Group Ltd. has a 1-year low of $12.30 and a 1-year high of $18.56. The company’s 50-day moving average price is $16.42 and its 200 day moving average price is $16.19. The company has a market capitalization of $9.09 billion, a PE ratio of 35.54 and a beta of 1.10.

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). The firm had revenue of $604.75 million during the quarter, compared to the consensus estimate of $600.76 million. Marvell Technology Group had a return on equity of 9.99% and a net margin of 10.97%. The business’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.18 EPS. Equities research analysts forecast that Marvell Technology Group Ltd. will post $1.12 EPS for the current fiscal year.

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Several equities research analysts have recently weighed in on MRVL shares. B. Riley reiterated a “buy” rating and set a $21.00 price objective on shares of Marvell Technology Group in a research report on Monday, May 22nd. Deutsche Bank AG increased their price objective on shares of Marvell Technology Group from $16.00 to $18.00 and gave the stock a “hold” rating in a research report on Thursday, May 25th. Citigroup Inc. raised shares of Marvell Technology Group to an “outperform” rating and set a $23.00 target price on the stock in a research note on Friday, May 26th. Oppenheimer Holdings, Inc. raised shares of Marvell Technology Group from a “market perform” rating to an “outperform” rating and set a $18.50 target price on the stock in a research note on Friday, May 26th. Finally, CIBC raised shares of Marvell Technology Group from a “market perform” rating to an “outperform” rating in a research note on Friday, May 26th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $18.93.

Institutional investors have recently made changes to their positions in the stock. D.A. Davidson & CO. boosted its stake 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 in the last quarter. Tower Research Capital LLC TRC lifted its stake in 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 valued at $122,000 after acquiring an additional 7,536 shares during the period. Creative Planning lifted its stake in Marvell Technology Group by 39.8% during the 2nd quarter. Creative Planning now owns 10,008 shares of the semiconductor company’s stock valued at $165,000 after acquiring an additional 2,850 shares during the period. United Capital Financial Advisers LLC bought a new position in Marvell Technology Group during the 1st quarter valued at about $165,000. Finally, Achmea Investment Management B.V. bought a new position in Marvell Technology Group during the 2nd quarter valued at about $214,000. Institutional investors own 76.67% of the company’s stock.

Marvell Technology Group Company Profile

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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