Marvell Technology Group Ltd. (MRVL) Major Shareholder Sehat Sutardja Sells 1,375,000 Shares

Marvell Technology Group Ltd. (NASDAQ:MRVL) major shareholder Sehat Sutardja sold 1,375,000 shares of the company’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $17.84, for a total transaction of $24,530,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own more than 10% 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 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 transaction of $17,730,000.00.
  • On Monday, September 11th, Sehat Sutardja sold 492,343 shares of Marvell Technology Group stock. The shares were sold at an average price of $17.41, for a total transaction of $8,571,691.63.
  • On Tuesday, September 12th, Sehat Sutardja sold 1,042,343 shares of Marvell Technology Group stock. The shares were 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 shares were 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 shares were sold at an average price of $17.84, for a total transaction of $7,500,328.48.

Marvell Technology Group Ltd. (NASDAQ MRVL) traded up 0.33% during mid-day trading on Friday, hitting $18.34. The stock had a trading volume of 7,434,838 shares. Marvell Technology Group Ltd. has a 12 month low of $12.30 and a 12 month high of $18.56. The stock has a market cap of $9.09 billion, a price-to-earnings ratio of 35.54 and a beta of 1.10. The stock’s 50-day moving average price is $16.49 and its 200-day moving average price is $16.21.

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

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Several research firms have commented on MRVL. B. Riley reaffirmed a “buy” rating and set a $23.00 price objective on shares of Marvell Technology Group in a report on Sunday, June 18th. Zacks Investment Research raised 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 report on Friday, May 26th. Northland Securities reaffirmed a “buy” rating and set a $20.00 price objective on shares of Marvell Technology Group in a report on Friday, August 25th. Citigroup Inc. raised shares of Marvell Technology Group to an “outperform” rating and set a $23.00 price objective on the stock in a report on Friday, May 26th. Finally, Cowen and Company reaffirmed an “outperform” rating and set a $21.00 price objective on shares of Marvell Technology Group in a report on Wednesday, June 21st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Marvell Technology Group presently has a consensus rating of “Buy” and an average price target of $18.93.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MRVL. BlackRock Inc. increased its position in shares of Marvell Technology Group by 4,078.2% during the 1st quarter. BlackRock Inc. now owns 24,309,056 shares of the semiconductor company’s stock valued at $370,955,000 after purchasing an additional 23,727,243 shares during the last quarter. Boston Partners bought a new position in shares of Marvell Technology Group during the 2nd quarter valued at approximately $133,179,000. UBS Asset Management Americas Inc. increased its position in shares of Marvell Technology Group by 71.0% during the 1st quarter. UBS Asset Management Americas Inc. now owns 8,705,347 shares of the semiconductor company’s stock valued at $132,844,000 after purchasing an additional 3,613,160 shares during the last quarter. TimesSquare Capital Management LLC bought a new position in shares of Marvell Technology Group during the 1st quarter valued at approximately $42,491,000. Finally, Renaissance Technologies LLC increased its position in shares of Marvell Technology Group by 239.6% during the 2nd quarter. Renaissance Technologies LLC now owns 3,886,158 shares of the semiconductor company’s stock valued at $64,199,000 after purchasing an additional 2,741,914 shares during the last quarter. 76.67% of the stock is currently owned by hedge funds and other institutional investors.

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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