Marvell Technology Group Ltd. (NASDAQ:MRVL) major shareholder Sehat Sutardja sold 1,422,500 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $18.52, for a total value of $26,344,700.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% 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 4th, Sehat Sutardja sold 387,642 shares of Marvell Technology Group stock. The stock was sold at an average price of $18.48, for a total value of $7,163,624.16.
  • 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.
  • On Thursday, September 7th, Sehat Sutardja sold 537,235 shares of Marvell Technology Group stock. The stock was sold at an average price of $17.57, for a total value of $9,439,218.95.
  • On Wednesday, September 6th, Sehat Sutardja sold 420,422 shares of Marvell Technology Group stock. The stock was sold at an average price of $17.84, for a total value of $7,500,328.48.

Marvell Technology Group Ltd. (MRVL) opened at 18.20 on Friday. Marvell Technology Group Ltd. has a 1-year low of $12.30 and a 1-year high of $18.72. The firm has a 50 day moving average of $17.57 and a 200 day moving average of $16.43. The firm has a market cap of $9.02 billion, a P/E ratio of 35.27 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 the Zacks’ 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 business had revenue of $604.75 million during the quarter, compared to analysts’ expectations of $600.76 million. During the same period in the prior year, the business posted $0.18 EPS. The business’s revenue was up 16.4% on a year-over-year basis. On average, equities research analysts expect that Marvell Technology Group Ltd. will post $1.12 EPS for the current year.

The firm 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. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date is Friday, October 6th. Marvell Technology Group’s dividend payout ratio is presently 47.06%.

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Several equities research analysts recently 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 report on Friday, September 1st. BidaskClub cut Marvell Technology Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. KeyCorp lifted their price objective on Marvell Technology Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Friday, August 25th. Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $23.00 price objective on shares of Marvell Technology Group in a report on Friday, August 25th. Finally, Cowen and Company reiterated an “outperform” rating and issued a $21.00 price objective on shares of Marvell Technology Group in a report on Wednesday, June 21st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $19.31.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. D.A. Davidson & CO. grew its holdings in Marvell Technology Group by 10.2% during the 2nd quarter. D.A. Davidson & CO. now owns 6,461 shares of the semiconductor company’s stock valued at $106,000 after purchasing an additional 600 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Marvell Technology Group by 1,740.4% during the 1st quarter. Tower Research Capital LLC TRC now owns 7,969 shares of the semiconductor company’s stock valued at $122,000 after purchasing an additional 7,536 shares in the last quarter. Creative Planning grew its holdings in Marvell Technology Group by 39.8% during the 2nd quarter. Creative Planning now owns 10,008 shares of the semiconductor company’s stock valued at $165,000 after purchasing an additional 2,850 shares in the last quarter. United Capital Financial Advisers LLC acquired a new stake in Marvell Technology Group during the 1st quarter valued at $165,000. Finally, Achmea Investment Management B.V. acquired a new stake in Marvell Technology Group during the 2nd quarter valued at $214,000. 76.61% of the stock is owned by institutional investors and hedge funds.

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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