Marvell Technology Group Ltd. (NASDAQ:MRVL) major shareholder Sehat Sutardja sold 1,842,500 shares of Marvell Technology Group stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $18.52, for a total transaction of $34,123,100.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 Monday, October 2nd, Sehat Sutardja sold 1,422,500 shares of Marvell Technology Group stock. The stock was sold at an average price of $18.52, for a total transaction of $26,344,700.00.
  • 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction of $7,500,328.48.

Shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) traded down 0.621% during midday trading on Thursday, hitting $18.395. The stock had a trading volume of 1,172,592 shares. Marvell Technology Group Ltd. has a 12 month low of $12.30 and a 12 month high of $18.72. The stock’s 50 day moving average price is $17.43 and its 200 day moving average price is $16.41. The firm has a market cap of $9.12 billion, a price-to-earnings ratio of 35.649 and a beta of 1.13.

Marvell Technology Group (NASDAQ:MRVL) last posted its quarterly earnings data on Thursday, August 24th. The semiconductor company reported $0.25 earnings per share 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 company had revenue of $604.75 million for the quarter, compared to analysts’ expectations of $600.76 million. During the same period in the previous year, the firm earned $0.18 earnings per share. The firm’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 $1.12 EPS for the current fiscal year.

The business 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 is Friday, October 6th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.30%. Marvell Technology Group’s payout ratio is currently 47.06%.

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MRVL has been the topic of a number of analyst reports. B. Riley reaffirmed a “buy” rating and set a $23.00 price objective on shares of Marvell Technology Group in a report on Monday, June 12th. Pacific Crest raised shares of Marvell Technology Group from a “sector weight” rating to an “overweight” rating and set a $22.00 price target on the stock in a report on Tuesday, June 20th. Cowen and Company reissued an “outperform” rating and issued a $21.00 price target on shares of Marvell Technology Group in a report on Wednesday, June 21st. MKM Partners reissued a “buy” rating and issued a $20.00 price target on shares of Marvell Technology Group in a report on Tuesday, July 4th. Finally, BidaskClub downgraded shares of Marvell Technology Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $19.31.

Hedge funds have recently bought and sold shares of the company. Greenwood Capital Associates LLC lifted its position 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 buying an additional 5,105 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in 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 Marvell Technology Group during the 2nd quarter valued at approximately $36,663,000. Dynamic Technology Lab Private Ltd raised its stake in Marvell Technology Group by 18.2% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 20,203 shares of the semiconductor company’s stock valued at $309,000 after purchasing an additional 3,106 shares during the period. Finally, Seven Eight Capital LP raised its stake in 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. 76.61% of the stock is currently owned by hedge funds and other institutional investors.

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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