Sehat Sutardja Sells 1,040,692 Shares of Marvell Technology Group Ltd. (MRVL) Stock

Marvell Technology Group Ltd. (NASDAQ:MRVL) major shareholder Sehat Sutardja sold 1,040,692 shares of the business’s stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $18.48, for a total value of $19,231,988.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 Tuesday, October 10th, Sehat Sutardja sold 2,727,810 shares of Marvell Technology Group stock. The shares were sold at an average price of $18.49, for a total value of $50,437,206.90.
  • On Wednesday, October 4th, Sehat Sutardja sold 387,642 shares of Marvell Technology Group stock. The shares were sold at an average price of $18.48, for a total value of $7,163,624.16.
  • 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 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.

Marvell Technology Group Ltd. (NASDAQ:MRVL) opened at 18.29 on Friday. The stock’s 50 day moving average price is $17.88 and its 200 day moving average price is $16.51. The company has a market capitalization of $9.07 billion, a PE ratio of 35.45 and a beta of 1.13. Marvell Technology Group Ltd. has a 12-month low of $12.30 and a 12-month high of $18.72.

Marvell Technology Group (NASDAQ:MRVL) last posted its quarterly earnings data on Thursday, August 24th. The semiconductor company reported $0.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.03). Marvell Technology Group had a return on equity of 9.99% and a net margin of 10.97%. The company had revenue of $604.75 million for the quarter, compared to analyst estimates of $600.76 million. During the same quarter in the previous year, the firm posted $0.18 earnings per share. The company’s quarterly revenue was up 16.4% on a year-over-year basis. On average, equities analysts anticipate that Marvell Technology Group Ltd. will post $1.13 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 paid 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 1.31%. Marvell Technology Group’s payout ratio is currently 47.06%.

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MRVL has been the topic of a number of research analyst reports. B. Riley reiterated a “buy” rating and set a $23.00 target price on shares of Marvell Technology Group in a report on Sunday, June 18th. Cowen and Company reiterated a “buy” rating and set a $21.00 target price on shares of Marvell Technology Group in a report on Monday, August 21st. MKM Partners reiterated a “buy” rating and set a $20.00 target price on shares of Marvell Technology Group in a report on Tuesday, July 4th. Credit Suisse Group reiterated a “buy” rating on shares of Marvell Technology Group in a report on Wednesday, August 23rd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $21.00 target price on shares of Marvell Technology Group in a report on Thursday, August 24th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $19.31.

Several large investors have recently bought and sold shares of the company. D.A. Davidson & CO. lifted its position in Marvell Technology Group by 10.2% during the second 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 during the period. Tower Research Capital LLC TRC lifted its position in Marvell Technology Group by 1,740.4% during the first 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 during the period. United Capital Financial Advisers LLC acquired a new position in Marvell Technology Group during the first quarter valued at $165,000. Creative Planning lifted its position in Marvell Technology Group by 39.8% during the second 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 during the period. Finally, Achmea Investment Management B.V. acquired a new position in Marvell Technology Group during the second quarter valued at $214,000. 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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