Marvell Technology Group Ltd. (NASDAQ:MRVL) major shareholder Sehat Sutardja sold 2,727,810 shares of the business’s stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $18.49, for a total transaction of $50,437,206.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

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

  • On Monday, October 9th, Sehat Sutardja sold 1,040,692 shares of Marvell Technology Group stock. The shares were sold at an average price of $18.48, for a total value of $19,231,988.16.
  • On Wednesday, October 4th, Sehat Sutardja sold 387,642 shares of Marvell Technology Group stock. The shares were sold at an average price of $18.48, for a total value of $7,163,624.16.
  • 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 value of $26,344,700.00.
  • On Tuesday, October 3rd, Sehat Sutardja sold 1,842,500 shares of Marvell Technology Group stock. The stock was 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 stock was 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 stock was 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 stock was 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 stock was 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 stock was 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 stock was sold at an average price of $17.46, for a total value of $18,199,308.78.

Shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) remained flat at $18.51 on Wednesday. 4,284,527 shares of the stock were exchanged. Marvell Technology Group Ltd. has a 52-week low of $12.30 and a 52-week high of $18.72. The firm has a market cap of $9.18 billion, a price-to-earnings ratio of 35.87 and a beta of 1.13. The stock has a 50 day moving average of $17.73 and a 200-day moving average of $16.48.

Marvell Technology Group (NASDAQ:MRVL) last released its earnings results on Thursday, August 24th. The semiconductor company reported $0.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.03). The firm had revenue of $604.75 million during the quarter, compared to analyst estimates of $600.76 million. Marvell Technology Group had a net margin of 10.97% and a return on equity of 9.99%. The firm’s quarterly revenue was up 16.4% on a year-over-year basis. During the same period last year, the business posted $0.18 earnings per share. Analysts anticipate that Marvell Technology Group Ltd. will post $1.13 earnings per share for the current year.

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

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A number of brokerages have issued reports on MRVL. B. Riley reaffirmed a “buy” rating and issued a $23.00 target price on shares of Marvell Technology Group in a research report on Wednesday, June 28th. BidaskClub lowered Marvell Technology Group from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Zacks Investment Research lowered Marvell Technology Group from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Cowen and Company reissued a “buy” rating on shares of Marvell Technology Group in a research report on Friday, July 14th. Finally, Pacific Crest raised Marvell Technology Group from a “sector weight” rating to an “overweight” rating and set a $22.00 price target on the stock in a research report on Tuesday, June 20th. Two equities research 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 company has a consensus rating of “Buy” and an average price target of $19.31.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MRVL. D.A. Davidson & CO. increased its stake in shares of 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 valued at $106,000 after buying an additional 600 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of Marvell Technology Group by 1,740.4% in the 1st quarter. Tower Research Capital LLC TRC now owns 7,969 shares of the semiconductor company’s stock valued at $122,000 after buying an additional 7,536 shares during the period. United Capital Financial Advisers LLC acquired a new stake in shares of Marvell Technology Group in the 1st quarter valued at $165,000. Creative Planning increased its stake in shares of Marvell Technology Group by 39.8% in the 2nd quarter. Creative Planning now owns 10,008 shares of the semiconductor company’s stock valued at $165,000 after buying an additional 2,850 shares during the period. Finally, Achmea Investment Management B.V. acquired a new stake in shares of Marvell Technology Group in the 2nd quarter valued at $214,000. 76.61% of the stock is owned by institutional investors.

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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