Marvell Technology Group Ltd. (NASDAQ:MRVL) major shareholder Sehat Sutardja sold 62,337 shares of the firm’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $18.48, for a total value of $1,151,987.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

  • On Monday, October 23rd, Sehat Sutardja sold 1,266,498 shares of Marvell Technology Group stock. The stock was sold at an average price of $18.55, for a total value of $23,493,537.90.
  • On Wednesday, October 18th, Sehat Sutardja sold 474,771 shares of Marvell Technology Group stock. The stock was sold at an average price of $18.48, for a total value of $8,773,768.08.
  • On Wednesday, October 11th, Sehat Sutardja sold 1,394,728 shares of Marvell Technology Group stock. The stock was sold at an average price of $18.52, for a total value of $25,830,362.56.
  • On Thursday, October 12th, Sehat Sutardja sold 1,424,819 shares of Marvell Technology Group stock. The shares were sold at an average price of $18.52, for a total value of $26,387,647.88.
  • 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 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.

Marvell Technology Group Ltd. (NASDAQ MRVL) traded up 0.60% on Tuesday, hitting $18.58. The stock had a trading volume of 18,445,252 shares. The firm’s 50 day moving average price is $18.11 and its 200-day moving average price is $16.70. The stock has a market cap of $9.21 billion, a PE ratio of 36.01 and a beta of 1.13. Marvell Technology Group Ltd. has a 12 month low of $12.30 and a 12 month high of $18.88.

Marvell Technology Group (NASDAQ:MRVL) last posted its earnings results on Thursday, August 24th. The semiconductor company reported $0.25 earnings per share for the quarter, missing the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $600.76 million. During the same quarter last year, the business posted $0.18 EPS. The firm’s revenue for the quarter was up 16.4% on a year-over-year basis. On average, analysts forecast that Marvell Technology Group Ltd. will post $1.13 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 26th. Stockholders of record on Tuesday, October 10th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, October 6th. This represents a $0.24 annualized dividend and a dividend yield of 1.29%. Marvell Technology Group’s dividend payout ratio (DPR) is currently 47.06%.

TRADEMARK VIOLATION NOTICE: “Insider Selling: Marvell Technology Group Ltd. (MRVL) Major Shareholder Sells 62,337 Shares of Stock” was originally reported by American Banking News and is owned by of American Banking News. If you are viewing this news story on another site, it was copied illegally and republished in violation of international trademark & copyright laws. The legal version of this news story can be read at https://www.americanbankingnews.com/2017/10/24/insider-selling-marvell-technology-group-ltd-mrvl-major-shareholder-sells-62337-shares-of-stock.html.

A number of institutional investors and hedge funds have recently made changes to their positions in MRVL. BlackRock Inc. raised its holdings in shares of Marvell Technology Group by 4,078.2% in the first quarter. BlackRock Inc. now owns 24,309,056 shares of the semiconductor company’s stock valued at $370,955,000 after buying an additional 23,727,243 shares during the last quarter. Boston Partners purchased a new stake in shares of Marvell Technology Group in the second quarter valued at about $133,179,000. Renaissance Technologies LLC raised its holdings in shares of Marvell Technology Group by 239.6% in the second quarter. Renaissance Technologies LLC now owns 3,886,158 shares of the semiconductor company’s stock valued at $64,199,000 after buying an additional 2,741,914 shares during the last quarter. Jennison Associates LLC purchased a new stake in shares of Marvell Technology Group in the second quarter valued at about $36,663,000. Finally, TimesSquare Capital Management LLC raised its holdings in shares of Marvell Technology Group by 60.2% in the second quarter. TimesSquare Capital Management LLC now owns 4,461,600 shares of the semiconductor company’s stock valued at $73,706,000 after buying an additional 1,677,100 shares during the last quarter. 76.63% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have recently commented on the company. Jefferies Group LLC set a $19.00 price target on Marvell Technology Group and gave the company a “hold” rating in a research note on Wednesday, October 18th. KeyCorp reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Marvell Technology Group in a research note on Wednesday, October 4th. Cowen and Company reaffirmed a “buy” rating on shares of Marvell Technology Group in a research note on Friday, October 13th. B. Riley reaffirmed a “buy” rating and issued a $24.00 price objective on shares of Marvell Technology Group in a research note on Wednesday, September 20th. Finally, Northland Securities reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Marvell Technology Group in a research note on Friday, August 25th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Marvell Technology Group has an average rating of “Buy” and a consensus price target of $19.34.

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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