Marvell Technology Group Ltd. (NASDAQ:MRVL) major shareholder Sehat Sutardja sold 552,500 shares of the stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $18.53, for a total value of $10,237,825.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

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

  • 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.

Marvell Technology Group Ltd. (MRVL) opened at 18.03 on Friday. The firm has a market capitalization of $8.94 billion, a PE ratio of 34.94 and a beta of 1.10. Marvell Technology Group Ltd. has a 12 month low of $12.30 and a 12 month high of $18.67. The stock’s 50 day moving average price is $16.65 and its 200 day moving average price is $16.25.

Marvell Technology Group (NASDAQ:MRVL) last posted its quarterly earnings data on Thursday, August 24th. The semiconductor company reported $0.25 earnings per share (EPS) for the quarter, missing the 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 firm had revenue of $604.75 million for the quarter, compared to analyst estimates of $600.76 million. During the same period in the prior year, the company posted $0.18 EPS. The firm’s quarterly revenue was up 16.4% compared to the same quarter last year. Equities research analysts expect that Marvell Technology Group Ltd. will post $1.12 earnings per share for the current fiscal year.

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A number of research firms have commented on MRVL. B. Riley reaffirmed a “buy” rating and set a $24.00 target price on shares of Marvell Technology Group in a report on Wednesday. BMO Capital Markets reaffirmed a “market perform” rating and set a $16.00 target price on shares of Marvell Technology Group in a report on Monday, August 28th. Loop Capital reaffirmed a “buy” rating and set a $22.00 target price on shares of Marvell Technology Group in a report on Friday, August 25th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and set a $23.00 target price on shares of Marvell Technology Group in a report on Friday, August 25th. Finally, Northland Securities reaffirmed a “buy” rating and set a $20.00 target price on shares of Marvell Technology Group in a report on Friday, August 25th. Two investment 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 company has a consensus rating of “Buy” and a consensus target price of $19.22.

A number of large investors have recently bought and sold shares of MRVL. ProShare Advisors LLC raised its position in shares of Marvell Technology Group by 0.3% during the 1st quarter. ProShare Advisors LLC now owns 27,321 shares of the semiconductor company’s stock valued at $417,000 after acquiring an additional 75 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Marvell Technology Group by 4.0% during the 1st quarter. Wells Fargo & Company MN now owns 184,261 shares of the semiconductor company’s stock valued at $2,812,000 after acquiring an additional 7,038 shares during the last quarter. First Trust Advisors LP raised its position in shares of Marvell Technology Group by 136.8% during the 1st quarter. First Trust Advisors LP now owns 364,273 shares of the semiconductor company’s stock valued at $5,559,000 after acquiring an additional 210,421 shares during the last quarter. DekaBank Deutsche Girozentrale raised its position in shares of Marvell Technology Group by 191.8% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 26,724 shares of the semiconductor company’s stock valued at $433,000 after acquiring an additional 17,566 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in shares of Marvell Technology Group by 12.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 88,075 shares of the semiconductor company’s stock valued at $1,344,000 after acquiring an additional 9,453 shares during the last quarter. 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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