Marvell Technology Group Ltd. (NASDAQ:MRVL) major shareholder Sehat Sutardja sold 552,500 shares of the stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $18.53, for a total transaction of $10,237,825.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Large 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 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 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 transaction 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 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 down 1.52% during midday trading on Tuesday, reaching $18.15. 6,409,757 shares of the company traded hands. The company has a 50 day moving average price of $16.57 and a 200 day moving average price of $16.24. Marvell Technology Group Ltd. has a 1-year low of $12.30 and a 1-year high of $18.67. The company has a market capitalization of $9.00 billion, a PE ratio of 35.17 and a beta of 1.10.

Marvell Technology Group (NASDAQ:MRVL) last issued 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 for the quarter, compared to analyst estimates of $600.76 million. During the same quarter in the previous year, the company posted $0.18 EPS. The company’s revenue for the quarter was up 16.4% compared to the same quarter last year. On average, analysts expect that Marvell Technology Group Ltd. will post $1.12 earnings per share for the current year.

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A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in Marvell Technology Group by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 32,190,297 shares of the semiconductor company’s stock valued at $531,785,000 after purchasing an additional 290,339 shares in the last quarter. BlackRock Inc. increased its stake in Marvell Technology Group by 4,078.2% during the 1st quarter. BlackRock Inc. now owns 24,309,056 shares of the semiconductor company’s stock valued at $370,955,000 after purchasing an additional 23,727,243 shares in the last quarter. State Street Corp increased its stake in Marvell Technology Group by 3.6% during the 1st quarter. State Street Corp now owns 9,846,772 shares of the semiconductor company’s stock valued at $150,267,000 after purchasing an additional 341,686 shares in the last quarter. Contour Asset Management LLC increased its stake in Marvell Technology Group by 11.5% during the 2nd quarter. Contour Asset Management LLC now owns 9,192,978 shares of the semiconductor company’s stock valued at $151,868,000 after purchasing an additional 944,622 shares in the last quarter. Finally, UBS Asset Management Americas Inc. increased its stake in Marvell Technology Group by 2.3% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 8,901,332 shares of the semiconductor company’s stock valued at $147,050,000 after purchasing an additional 195,985 shares in the last quarter. Institutional investors and hedge funds own 76.61% of the company’s stock.

MRVL has been the subject of a number of research reports. CIBC raised shares of Marvell Technology Group from a “market perform” rating to an “outperform” rating in a research note on Friday, May 26th. BidaskClub downgraded 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 reissued a “hold” rating and issued a $18.50 price target (down from $19.00) on shares of Marvell Technology Group in a research note on Thursday, August 24th. Needham & Company LLC reissued a “buy” rating and issued a $21.00 price target on shares of Marvell Technology Group in a research note on Thursday, August 24th. Finally, TheStreet raised shares of Marvell Technology Group from a “c” rating to a “b” rating in a research note on Thursday, May 25th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $18.93.

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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