Marvell Technology Group Ltd. (NASDAQ:MRVL) Director Michael G. Strachan sold 20,000 shares of Marvell Technology Group stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $23.65, for a total value of $473,000.00. Following the transaction, the director now owns 19,702 shares in the company, valued at approximately $465,952.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Shares of Marvell Technology Group Ltd. (MRVL) traded down $0.01 during trading hours on Friday, hitting $23.68. The company had a trading volume of 7,578,434 shares, compared to its average volume of 6,960,000. The firm has a market cap of $11,630.00, a P/E ratio of 41.54, a price-to-earnings-growth ratio of 1.43 and a beta of 1.12. Marvell Technology Group Ltd. has a 1 year low of $13.83 and a 1 year high of $24.22.

Marvell Technology Group (NASDAQ:MRVL) last issued its quarterly earnings data on Tuesday, November 28th. The semiconductor company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. The firm had revenue of $616.00 million during the quarter, compared to the consensus estimate of $613.49 million. Marvell Technology Group had a return on equity of 11.93% and a net margin of 16.53%. The company’s quarterly revenue was down 5.8% on a year-over-year basis. During the same period last year, the company earned $0.20 EPS. equities analysts predict that Marvell Technology Group Ltd. will post 1.01 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Wednesday, December 27th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date was Tuesday, December 26th. Marvell Technology Group’s payout ratio is 42.11%.

MRVL has been the topic of several analyst reports. Benchmark upgraded Marvell Technology Group from a “hold” rating to a “buy” rating and lifted their price target for the stock from $17.00 to $30.00 in a report on Monday, November 20th. Citigroup upgraded Marvell Technology Group from a “sell” rating to a “neutral” rating and set a $22.00 price target on the stock in a report on Tuesday, November 7th. Oppenheimer reiterated a “buy” rating and set a $23.00 price target on shares of Marvell Technology Group in a report on Monday, November 6th. Piper Jaffray Companies initiated coverage on Marvell Technology Group in a report on Monday, December 18th. They set an “overweight” rating and a $25.00 price target on the stock. Finally, Barclays upgraded Marvell Technology Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $20.00 to $30.00 in a report on Tuesday, November 21st. Eight investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $23.92.

Large investors have recently modified their holdings of the stock. D.A. Davidson & CO. increased its position in shares of 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 worth $106,000 after purchasing an additional 600 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Marvell Technology Group in the 3rd quarter valued at about $106,000. Massey Quick Simon & CO. LLC acquired a new position in Marvell Technology Group in the 3rd quarter valued at about $124,000. Boothbay Fund Management LLC acquired a new position in Marvell Technology Group in the 3rd quarter valued at about $203,000. Finally, First Quadrant L P CA acquired a new position in Marvell Technology Group in the 3rd quarter valued at about $211,000. 78.69% of the stock is owned by hedge funds and other institutional investors.

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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.

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