Marvell Technology Group Ltd. (NASDAQ:MRVL) major shareholder Sehat Sutardja sold 1,040,692 shares of Marvell Technology Group stock in a transaction on Monday, October 9th. The shares were sold at an average price of $18.48, for a total value of $19,231,988.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 Tuesday, October 10th, Sehat Sutardja sold 2,727,810 shares of Marvell Technology Group stock. The shares were sold at an average price of $18.49, for a total value of $50,437,206.90.
  • 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 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.

Marvell Technology Group Ltd. (MRVL) remained flat at $18.51 on Wednesday. 4,284,527 shares of the stock were exchanged. Marvell Technology Group Ltd. has a 12-month low of $12.30 and a 12-month high of $18.72. The stock has a 50-day moving average price of $17.73 and a 200-day moving average price of $16.48. The stock has a market capitalization of $9.18 billion, a PE ratio of 35.87 and a beta of 1.13.

Marvell Technology Group (NASDAQ:MRVL) last issued its earnings results 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 net margin of 10.97% and a return on equity of 9.99%. The firm had revenue of $604.75 million during the quarter, compared to the consensus estimate of $600.76 million. During the same period in the previous year, the firm earned $0.18 earnings per share. The business’s quarterly revenue was up 16.4% on a year-over-year basis. On average, equities analysts forecast 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. Investors of record on Tuesday, October 10th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date is Friday, October 6th. Marvell Technology Group’s payout ratio is 47.06%.

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Institutional investors have recently modified their holdings of the stock. D.A. Davidson & CO. increased its position 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 valued at $106,000 after buying an additional 600 shares in the last quarter. Tower Research Capital LLC TRC increased its position in 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 in the last quarter. Creative Planning increased its position in 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 in the last quarter. United Capital Financial Advisers LLC bought a new stake in Marvell Technology Group in the 1st quarter valued at about $165,000. Finally, Achmea Investment Management B.V. bought a new stake in Marvell Technology Group in the 2nd quarter valued at about $214,000. 76.61% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have issued reports on the company. B. Riley reiterated a “buy” rating and issued a $23.00 price objective on shares of Marvell Technology Group in a research report on Friday, September 1st. KeyCorp restated a “buy” rating and set a $25.00 target price on shares of Marvell Technology Group in a research report on Wednesday, October 4th. BidaskClub upgraded Marvell Technology Group from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 16th. Cowen and Company restated a “buy” rating and set a $21.00 target price on shares of Marvell Technology Group in a research report on Monday, August 21st. Finally, Needham & Company LLC restated a “buy” rating and set a $21.00 target price on shares of Marvell Technology Group in a research report on Thursday, August 24th. Two research 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 stock. Marvell Technology Group presently has a consensus rating of “Buy” and an average target price of $19.31.

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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