Marvell Technology Group Ltd. (NASDAQ:MRVL) major shareholder Sehat Sutardja sold 1,422,500 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $18.52, for a total value of $26,344,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

  • On Tuesday, October 3rd, Sehat Sutardja sold 1,842,500 shares of Marvell Technology Group stock. The shares were sold at an average price of $18.52, for a total value of $34,123,100.00.
  • 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 value 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 value 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 value 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 value 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 value 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 value 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 value 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 value of $7,500,328.48.

Shares of Marvell Technology Group Ltd. (MRVL) traded up 0.43% during midday trading on Wednesday, hitting $18.51. The company’s stock had a trading volume of 5,757,232 shares. The firm has a market cap of $9.18 billion, a P/E ratio of 35.87 and a beta of 1.13. Marvell Technology Group Ltd. has a 52-week low of $12.30 and a 52-week high of $18.72. The stock’s 50 day moving average is $17.35 and its 200-day moving average is $16.39.

Marvell Technology Group (NASDAQ:MRVL) last released its quarterly earnings results on Thursday, August 24th. The semiconductor company reported $0.25 earnings per share for the quarter, missing the 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 company’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.18 EPS. Equities analysts predict that Marvell Technology Group Ltd. will post $1.12 EPS for the current fiscal year.

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

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Several analysts have issued reports on MRVL shares. BMO Capital Markets restated a “market perform” rating and issued a $16.00 price objective on shares of Marvell Technology Group in a research note on Monday, August 28th. Jefferies Group LLC restated a “hold” rating and issued a $18.50 price objective (down previously from $19.00) on shares of Marvell Technology Group in a research note on Thursday, August 24th. Cowen and Company restated a “buy” rating and issued a $21.00 price objective on shares of Marvell Technology Group in a research note on Monday, August 21st. Needham & Company LLC restated a “buy” rating and issued a $21.00 price objective on shares of Marvell Technology Group in a research note on Thursday, August 24th. Finally, BidaskClub lowered Marvell Technology Group from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Marvell Technology Group has a consensus rating of “Buy” and a consensus price target of $19.30.

Several institutional investors have recently added to or reduced their stakes in MRVL. D.A. Davidson & CO. increased its holdings in shares of Marvell Technology Group by 10.2% in the second 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 during the period. Tower Research Capital LLC TRC increased its holdings in shares of Marvell Technology Group by 1,740.4% in the first quarter. Tower Research Capital LLC TRC now owns 7,969 shares of the semiconductor company’s stock worth $122,000 after purchasing an additional 7,536 shares during the period. United Capital Financial Advisers LLC bought a new position in shares of Marvell Technology Group in the first quarter worth $165,000. Creative Planning increased its holdings in shares of Marvell Technology Group by 39.8% in the second quarter. Creative Planning now owns 10,008 shares of the semiconductor company’s stock worth $165,000 after purchasing an additional 2,850 shares during the period. Finally, Achmea Investment Management B.V. bought a new position in shares of Marvell Technology Group in the second quarter worth $214,000. 76.61% of the stock is currently owned by hedge funds and other institutional investors.

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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