Marvell Technology Group Ltd. (NASDAQ:MRVL) major shareholder Sehat Sutardja sold 387,642 shares of the business’s stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $18.48, for a total value of $7,163,624.16. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions 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 value of $26,344,700.00.
  • 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.

Shares of Marvell Technology Group Ltd. (MRVL) opened at 18.20 on Friday. The stock has a market cap of $9.02 billion, a price-to-earnings ratio of 35.27 and a beta of 1.13. The stock’s 50 day moving average price is $17.57 and its 200-day moving average price is $16.43. Marvell Technology Group Ltd. has a 52-week low of $12.30 and a 52-week high of $18.72.

Marvell Technology Group (NASDAQ:MRVL) last posted its earnings results on Thursday, August 24th. The semiconductor company reported $0.25 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.03). The business had revenue of $604.75 million for the quarter, compared to analyst estimates of $600.76 million. Marvell Technology Group had a net margin of 10.97% and a return on equity of 9.99%. The business’s revenue was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.18 EPS. On average, analysts predict that Marvell Technology Group Ltd. will post $1.12 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 26th. Investors of record on Tuesday, October 10th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, October 6th. This represents a $0.24 annualized dividend and a dividend yield of 1.32%. Marvell Technology Group’s payout ratio is 47.06%.

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A number of research analysts recently commented on MRVL shares. B. Riley reiterated a “buy” rating and issued a $23.00 price objective on shares of Marvell Technology Group in a report on Wednesday, June 28th. BidaskClub cut Marvell Technology Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Zacks Investment Research cut Marvell Technology Group from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Cowen and Company reiterated a “buy” rating on shares of Marvell Technology Group in a report on Friday, July 14th. Finally, Pacific Crest upgraded Marvell Technology Group from a “sector weight” rating to an “overweight” rating and set a $22.00 price objective on the stock in a report on Tuesday, June 20th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $19.31.

Several large investors have recently bought and sold shares of the stock. Prudential Financial Inc. lifted its holdings in shares of Marvell Technology Group by 0.7% during the 1st quarter. Prudential Financial Inc. now owns 27,940 shares of the semiconductor company’s stock valued at $426,000 after acquiring an additional 200 shares in the last quarter. Krilogy Financial LLC lifted its holdings in shares of Marvell Technology Group by 1.6% during the 2nd quarter. Krilogy Financial LLC now owns 15,600 shares of the semiconductor company’s stock valued at $258,000 after acquiring an additional 250 shares in the last quarter. Utah Retirement Systems lifted its holdings in shares of Marvell Technology Group by 0.4% during the 2nd quarter. Utah Retirement Systems now owns 73,725 shares of the semiconductor company’s stock valued at $1,218,000 after acquiring an additional 300 shares in the last quarter. M&T Bank Corp lifted its holdings in shares of Marvell Technology Group by 1.3% during the 2nd quarter. M&T Bank Corp now owns 30,943 shares of the semiconductor company’s stock valued at $512,000 after acquiring an additional 402 shares in the last quarter. Finally, D.A. Davidson & CO. lifted its holdings 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 valued at $106,000 after acquiring an additional 600 shares in the last quarter. Institutional investors and hedge funds own 76.61% 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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