Sehat Sutardja Sells 492,343 Shares of Marvell Technology Group Ltd. (MRVL) Stock

Marvell Technology Group Ltd. (NASDAQ:MRVL) major shareholder Sehat Sutardja sold 492,343 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $17.41, for a total transaction of $8,571,691.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

  • 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 transaction 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 transaction 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 transaction of $7,500,328.48.

Marvell Technology Group Ltd. (NASDAQ MRVL) opened at 18.28 on Friday. The company has a 50 day moving average price of $16.42 and a 200-day moving average price of $16.19. The company has a market capitalization of $9.07 billion, a PE ratio of 35.44 and a beta of 1.10. Marvell Technology Group Ltd. has a 12-month low of $12.30 and a 12-month high of $18.38.

Marvell Technology Group (NASDAQ:MRVL) last announced its quarterly earnings data on Thursday, August 24th. The semiconductor company reported $0.25 earnings per share 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 business had revenue of $604.75 million for the quarter, compared to the consensus estimate of $600.76 million. During the same quarter in the prior year, the company earned $0.18 earnings per share. Marvell Technology Group’s quarterly revenue was up 16.4% compared to the same quarter last year. On average, analysts anticipate that Marvell Technology Group Ltd. will post $1.12 EPS for the current year.

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MRVL has been the topic of several research analyst reports. TheStreet upgraded shares of Marvell Technology Group from a “c” rating to a “b” rating in a research note on Thursday, May 25th. B. Riley restated a “buy” rating and issued a $23.00 price objective on shares of Marvell Technology Group in a research note on Saturday, May 27th. Zacks Investment Research upgraded shares of Marvell Technology Group from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research note on Friday, May 26th. MKM Partners restated a “buy” rating and issued a $20.00 price objective on shares of Marvell Technology Group in a research note on Tuesday, July 4th. Finally, Cowen and Company restated a “buy” rating on shares of Marvell Technology Group in a research note on Friday, July 14th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Marvell Technology Group currently has an average rating of “Buy” and a consensus price target of $18.93.

Hedge funds have recently made changes to their positions in the stock. D.A. Davidson & CO. lifted 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 buying an additional 600 shares during the last quarter. Tower Research Capital LLC TRC raised its position in Marvell Technology Group by 1,740.4% in 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 last quarter. United Capital Financial Advisers LLC bought a new position in Marvell Technology Group in the first quarter valued at about $165,000. Creative Planning raised its position in Marvell Technology Group by 39.8% in 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 last quarter. Finally, Greenwood Capital Associates LLC raised its position in Marvell Technology Group by 2.8% in the first quarter. Greenwood Capital Associates LLC now owns 13,795 shares of the semiconductor company’s stock valued at $211,000 after purchasing an additional 380 shares during the last quarter. Institutional investors and hedge funds own 76.67% 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.

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