Insider Selling: Marvell Technology Group Ltd. (NASDAQ:MRVL) Major Shareholder Sells 387,642 Shares of Stock

Marvell Technology Group Ltd. (NASDAQ:MRVL) major shareholder Sehat Sutardja sold 387,642 shares of the firm’s stock in a transaction 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 filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Sehat Sutardja also recently made the following trade(s):

  • On Wednesday, October 11th, Sehat Sutardja sold 1,394,728 shares of Marvell Technology Group stock. The stock was sold at an average price of $18.52, for a total value of $25,830,362.56.
  • On Thursday, October 12th, Sehat Sutardja sold 1,424,819 shares of Marvell Technology Group stock. The stock was sold at an average price of $18.52, for a total value of $26,387,647.88.
  • On Monday, October 9th, Sehat Sutardja sold 1,040,692 shares of Marvell Technology Group stock. The stock was sold at an average price of $18.48, for a total value of $19,231,988.16.
  • On Tuesday, October 10th, Sehat Sutardja sold 2,727,810 shares of Marvell Technology Group stock. The stock was sold at an average price of $18.49, for a total value of $50,437,206.90.
  • On Monday, October 2nd, Sehat Sutardja sold 1,422,500 shares of Marvell Technology Group stock. The shares were 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 shares were 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 shares were 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 shares were 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 shares were 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 shares were sold at an average price of $17.84, for a total value of $24,530,000.00.

Shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) opened at 18.36 on Wednesday. Marvell Technology Group Ltd. has a 12-month low of $12.30 and a 12-month high of $18.72. The company has a market cap of $9.10 billion, a P/E ratio of 35.58 and a beta of 1.13. The stock’s 50 day moving average price is $17.97 and its 200 day moving average price is $16.54.

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 the consensus estimate of $600.76 million. During the same period last year, the business earned $0.18 EPS. The firm’s quarterly revenue was up 16.4% on a year-over-year basis. On average, analysts forecast that Marvell Technology Group Ltd. will post $1.13 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 26th. Investors of record on Tuesday, October 10th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend is Friday, October 6th. Marvell Technology Group’s dividend payout ratio (DPR) is presently 47.06%.

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A number of hedge funds have recently bought and sold shares of MRVL. D.A. Davidson & CO. increased its position 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 buying an additional 600 shares in the last quarter. Tower Research Capital LLC TRC increased its position 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 buying an additional 7,536 shares in the last quarter. United Capital Financial Advisers LLC bought a new position in Marvell Technology Group during the 1st quarter valued at approximately $165,000. Creative Planning increased its position 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 buying an additional 2,850 shares in the last quarter. Finally, Achmea Investment Management B.V. bought a new position in Marvell Technology Group during the 2nd quarter valued at approximately $214,000. 76.61% of the stock is owned by institutional investors.

MRVL has been the topic of several research analyst reports. BidaskClub lowered Marvell Technology Group from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. Jefferies Group LLC reaffirmed a “hold” rating and issued a $18.50 price objective (down from $19.00) on shares of Marvell Technology Group in a research note on Thursday, August 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $21.00 price objective on shares of Marvell Technology Group in a research note on Thursday, August 24th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $16.00 price objective on shares of Marvell Technology Group in a research note on Monday, August 28th. Finally, Zacks Investment Research lowered Marvell Technology Group from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $19.31.

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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