Marvell Technology Group Ltd. (MRVL) Insider Sells $36,076.32 in Stock

Marvell Technology Group Ltd. (NASDAQ:MRVL) insider Marvell Semiconductor, Inc. Ca sold 1,512 shares of the stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $23.86, for a total transaction of $36,076.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Marvell Semiconductor, Inc. Ca also recently made the following trade(s):

  • On Friday, December 1st, Marvell Semiconductor, Inc. Ca sold 9,812 shares of Marvell Technology Group stock. The shares were sold at an average price of $21.20, for a total transaction of $208,014.40.

Marvell Technology Group Ltd. (NASDAQ:MRVL) traded down $0.01 during trading on Friday, reaching $23.68. 7,578,434 shares of the company traded hands, compared to its average volume of 6,960,000. Marvell Technology Group Ltd. has a 52-week low of $13.83 and a 52-week high of $24.22. The firm has a market capitalization of $11,630.00, a PE ratio of 41.54, a P/E/G ratio of 1.43 and a beta of 1.12.

Marvell Technology Group (NASDAQ:MRVL) last released its quarterly earnings data on Tuesday, November 28th. The semiconductor company reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.01. Marvell Technology Group had a net margin of 16.53% and a return on equity of 11.93%. The firm had revenue of $616.00 million during the quarter, compared to analysts’ expectations of $613.49 million. During the same period last year, the business earned $0.20 earnings per share. Marvell Technology Group’s revenue was down 5.8% compared to the same quarter last year. sell-side analysts anticipate that Marvell Technology Group Ltd. will post 1.01 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Wednesday, December 27th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.01%. The ex-dividend date was Tuesday, December 26th. Marvell Technology Group’s payout ratio is currently 42.11%.

Institutional investors have recently added to or reduced their stakes in the stock. Prudential Financial Inc. increased its position in shares of Marvell Technology Group by 6.1% during the second quarter. Prudential Financial Inc. now owns 29,640 shares of the semiconductor company’s stock valued at $490,000 after acquiring an additional 1,700 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Marvell Technology Group by 21.3% during the second quarter. Principal Financial Group Inc. now owns 46,352 shares of the semiconductor company’s stock valued at $766,000 after acquiring an additional 8,136 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Marvell Technology Group by 233.4% during the second quarter. Wells Fargo & Company MN now owns 614,322 shares of the semiconductor company’s stock valued at $10,149,000 after acquiring an additional 430,061 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Marvell Technology Group by 57.2% during the second quarter. Ameriprise Financial Inc. now owns 1,463,280 shares of the semiconductor company’s stock valued at $24,174,000 after acquiring an additional 532,266 shares during the last quarter. Finally, Amalgamated Bank increased its position in shares of Marvell Technology Group by 26.5% during the second quarter. Amalgamated Bank now owns 73,142 shares of the semiconductor company’s stock valued at $1,208,000 after acquiring an additional 15,300 shares during the last quarter. Hedge funds and other institutional investors own 78.69% of the company’s stock.

A number of equities research analysts have recently commented on MRVL shares. Cowen reiterated a “buy” rating on shares of Marvell Technology Group in a research report on Friday, October 13th. B. Riley reiterated a “buy” rating and issued a $24.00 target price on shares of Marvell Technology Group in a research report on Monday, November 20th. Loop Capital reiterated a “buy” rating and issued a $26.00 target price on shares of Marvell Technology Group in a research report on Tuesday, November 21st. Craig Hallum reiterated a “buy” rating on shares of Marvell Technology Group in a research report on Tuesday, November 21st. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $30.00 target price (up from $22.00) on shares of Marvell Technology Group in a research report on Tuesday, November 28th. Eight research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $23.92.

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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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