Marvell Technology Group Ltd. (MRVL) Insider Sells $208,014.40 in Stock
Marvell Technology Group Ltd. (NASDAQ:MRVL) insider Marvell Semiconductor, Inc. Ca sold 9,812 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $21.20, for a total transaction of $208,014.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Shares of Marvell Technology Group Ltd. (NASDAQ MRVL) traded down $0.33 during trading hours on Tuesday, hitting $21.97. 7,279,209 shares of the company were exchanged, compared to its average volume of 6,834,735. The stock has a market cap of $10,893.51, a P/E ratio of 23.85, a P/E/G ratio of 1.34 and a beta of 1.13. Marvell Technology Group Ltd. has a 52 week low of $13.83 and a 52 week high of $24.22.
Marvell Technology Group (NASDAQ:MRVL) last issued its quarterly earnings results on Tuesday, November 28th. The semiconductor company reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.01. The company had revenue of $616.00 million for the quarter, compared to the consensus estimate of $613.49 million. Marvell Technology Group had a net margin of 16.53% and a return on equity of 11.99%. The firm’s quarterly revenue was down 5.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.20 EPS. analysts anticipate that Marvell Technology Group Ltd. will post 1.01 EPS for the current fiscal year.
Several analysts have recently weighed in on MRVL shares. BidaskClub upgraded shares of Marvell Technology Group from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 16th. Cowen reiterated a “buy” rating and issued a $21.00 price objective on shares of Marvell Technology Group in a research note on Monday, August 21st. B. Riley reiterated a “buy” rating and issued a $23.00 price objective on shares of Marvell Technology Group in a research note on Monday, August 21st. Credit Suisse Group reiterated a “buy” rating on shares of Marvell Technology Group in a research note on Wednesday, August 23rd. Finally, Jefferies Group reiterated 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. Eight equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $23.48.
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.
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