Marvell Technology Group Ltd. (NASDAQ:MRVL) major shareholder Sehat Sutardja sold 1,266,498 shares of the business’s stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $18.55, for a total transaction of $23,493,537.90. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Major shareholders that own 10% or more 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 Wednesday, October 18th, Sehat Sutardja sold 474,771 shares of Marvell Technology Group stock. The shares were sold at an average price of $18.48, for a total transaction of $8,773,768.08.
  • On Wednesday, October 11th, Sehat Sutardja sold 1,394,728 shares of Marvell Technology Group stock. The shares were sold at an average price of $18.52, for a total transaction 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction 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 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.

Marvell Technology Group Ltd. (NASDAQ MRVL) traded up 0.60% during trading on Tuesday, reaching $18.58. 18,445,252 shares of the company traded hands. The company’s 50-day moving average price is $18.10 and its 200 day moving average price is $16.68. The firm has a market capitalization of $9.21 billion, a price-to-earnings ratio of 36.01 and a beta of 1.13. Marvell Technology Group Ltd. has a 52 week low of $12.30 and a 52 week high of $18.88.

Marvell Technology Group (NASDAQ:MRVL) last released its quarterly earnings results on Thursday, August 24th. The semiconductor company reported $0.25 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.03). The firm had revenue of $604.75 million for the quarter, compared to the consensus estimate of $600.76 million. Marvell Technology Group had a net margin of 10.97% and a return on equity of 9.99%. The company’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.18 earnings per share. On average, equities research analysts expect that Marvell Technology Group Ltd. will post $1.13 EPS for the current year.

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

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A number of research firms recently issued reports on MRVL. B. Riley reiterated a “buy” rating and set a $23.00 target price on shares of Marvell Technology Group in a research report on Friday, September 1st. BidaskClub upgraded shares of Marvell Technology Group from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 16th. Jefferies Group LLC set a $19.00 target price on shares of Marvell Technology Group and gave the company a “hold” rating in a research report on Wednesday, October 18th. Cowen and Company reiterated 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, KeyCorp boosted their target price on shares of Marvell Technology Group from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Friday, August 25th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $19.34.

Institutional investors have recently added to or reduced their stakes in the business. Greenwood Capital Associates LLC grew its stake in shares of Marvell Technology Group by 37.0% during the 2nd quarter. Greenwood Capital Associates LLC now owns 18,900 shares of the semiconductor company’s stock valued at $312,000 after purchasing an additional 5,105 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Marvell Technology Group by 9.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 547,334 shares of the semiconductor company’s stock valued at $9,042,000 after purchasing an additional 47,648 shares during the period. Jennison Associates LLC bought a new stake in shares of Marvell Technology Group during the 2nd quarter valued at about $36,663,000. Seven Eight Capital LP grew its stake in shares of Marvell Technology Group by 41.3% during the 2nd quarter. Seven Eight Capital LP now owns 228,974 shares of the semiconductor company’s stock valued at $3,783,000 after purchasing an additional 66,900 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in shares of Marvell Technology Group by 15.6% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 129,709 shares of the semiconductor company’s stock valued at $2,143,000 after purchasing an additional 17,485 shares during the period. Institutional investors and hedge funds own 76.63% of the company’s stock.

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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