Marvell Technology Group Ltd. (NASDAQ:MRVL) major shareholder Sehat Sutardja sold 1,842,500 shares of the business’s stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $18.52, for a total transaction of $34,123,100.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

  • On Monday, October 2nd, Sehat Sutardja sold 1,422,500 shares of Marvell Technology Group stock. The shares were sold at an average price of $18.52, for a total transaction of $26,344,700.00.
  • On Friday, September 29th, Sehat Sutardja sold 93,895 shares of Marvell Technology Group stock. The shares were sold at an average price of $18.02, for a total transaction of $1,691,987.90.
  • On Monday, September 18th, Sehat Sutardja sold 552,500 shares of Marvell Technology Group stock. The shares were sold at an average price of $18.53, for a total transaction of $10,237,825.00.
  • On Wednesday, September 13th, Sehat Sutardja sold 1,000,000 shares of Marvell Technology Group stock. The shares were 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 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 0.43% during trading on Wednesday, hitting $18.51. 5,757,232 shares of the stock traded hands. The stock has a market cap of $9.18 billion, a PE ratio of 35.87 and a beta of 1.13. Marvell Technology Group Ltd. has a 12 month low of $12.30 and a 12 month high of $18.72. The firm’s 50-day moving average price is $17.35 and its 200-day moving average price is $16.39.

Marvell Technology Group (NASDAQ:MRVL) last issued its quarterly earnings data on Thursday, August 24th. The semiconductor company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.03). Marvell Technology Group had a return on equity of 9.99% and a net margin of 10.97%. The business had revenue of $604.75 million during the quarter, compared to analysts’ expectations of $600.76 million. During the same period in the previous year, the business earned $0.18 earnings per share. The business’s quarterly revenue was up 16.4% on a year-over-year basis. Analysts anticipate that Marvell Technology Group Ltd. will post $1.12 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 26th. Shareholders of record on Tuesday, October 10th will be paid a $0.06 dividend. The ex-dividend date is Friday, October 6th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.30%. Marvell Technology Group’s payout ratio is currently 47.06%.

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Several hedge funds have recently added to or reduced their stakes in MRVL. BlackRock Inc. boosted its stake in shares of 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 worth $370,955,000 after purchasing an additional 23,727,243 shares during the period. Boston Partners purchased a new position in shares of Marvell Technology Group during the 2nd quarter worth about $133,179,000. TimesSquare Capital Management LLC purchased a new position in shares of Marvell Technology Group during the 1st quarter worth about $42,491,000. Renaissance Technologies LLC boosted its stake in shares of Marvell Technology Group by 239.6% during the 2nd quarter. Renaissance Technologies LLC now owns 3,886,158 shares of the semiconductor company’s stock worth $64,199,000 after purchasing an additional 2,741,914 shares during the period. Finally, Jennison Associates LLC purchased a new position in shares of Marvell Technology Group during the 2nd quarter worth about $36,663,000. 76.61% of the stock is owned by hedge funds and other institutional investors.

Several research firms have recently weighed in on MRVL. B. Riley reaffirmed a “buy” rating and issued a $23.00 price target on shares of Marvell Technology Group in a report on Friday, September 1st. BidaskClub cut shares of Marvell Technology Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. KeyCorp upped their price target on shares of Marvell Technology Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Friday, August 25th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and issued a $23.00 price target on shares of Marvell Technology Group in a report on Friday, August 25th. Finally, Cowen and Company reaffirmed an “outperform” rating and issued a $21.00 price target on shares of Marvell Technology Group in a report on Wednesday, June 21st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Marvell Technology Group has a consensus rating of “Buy” and a consensus target price of $19.30.

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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