Michael G. Strachan Sells 20,000 Shares of Marvell Technology Group Ltd. (MRVL) Stock

Marvell Technology Group Ltd. (NASDAQ:MRVL) Director Michael G. Strachan sold 20,000 shares of the company’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $23.65, for a total transaction of $473,000.00. Following the sale, the director now owns 19,702 shares of the company’s stock, valued at $465,952.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Marvell Technology Group Ltd. (MRVL) opened at $23.68 on Friday. Marvell Technology Group Ltd. has a 1-year low of $13.83 and a 1-year high of $24.22. The company has a market cap of $11,631.62, a price-to-earnings ratio of 30.75, a price-to-earnings-growth ratio of 1.43 and a beta of 1.12.

Marvell Technology Group (NASDAQ:MRVL) last issued its quarterly earnings data on Tuesday, November 28th. The semiconductor company reported $0.34 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 business had revenue of $616.00 million during the quarter, compared to analyst estimates of $613.49 million. During the same period in the prior year, the business earned $0.20 EPS. The company’s revenue for the quarter was down 5.8% on a year-over-year basis. equities analysts forecast that Marvell Technology Group Ltd. will post 1.01 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Wednesday, December 27th were issued a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, December 26th. This represents a $0.24 annualized dividend and a yield of 1.01%. Marvell Technology Group’s dividend payout ratio (DPR) is presently 31.17%.

A number of research firms recently commented on MRVL. Cowen reiterated an “outperform” rating and set a $29.00 price target (up from $21.00) on shares of Marvell Technology Group in a report on Monday, November 27th. BMO Capital Markets upped their price target on shares of Marvell Technology Group to $25.00 and gave the company a “market perform” rating in a report on Monday, November 27th. Credit Suisse Group reiterated an “outperform” rating and set a $30.00 price target (up from $22.00) on shares of Marvell Technology Group in a report on Tuesday, November 28th. Oppenheimer upped their price target on shares of Marvell Technology Group from $23.00 to $30.00 and gave the company an “outperform” rating in a report on Tuesday, November 21st. Finally, Stifel Nicolaus upped their price target on shares of Marvell Technology Group from $16.00 to $19.00 and gave the company a “hold” rating in a report on Wednesday, November 29th. Eight investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $23.92.

Hedge funds and other institutional investors have recently modified their holdings of the business. Teton Advisors Inc. raised its holdings in Marvell Technology Group by 14.7% in the 3rd quarter. Teton Advisors Inc. now owns 71,700 shares of the semiconductor company’s stock worth $1,283,000 after purchasing an additional 9,200 shares in the last quarter. Achmea Investment Management B.V. bought a new position in shares of Marvell Technology Group in the 2nd quarter worth about $214,000. Nomura Holdings Inc. bought a new position in shares of Marvell Technology Group in the 2nd quarter worth about $539,000. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Marvell Technology Group by 2.0% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 232,300 shares of the semiconductor company’s stock worth $4,176,000 after acquiring an additional 4,600 shares in the last quarter. Finally, Oak Associates Ltd. OH increased its stake in shares of Marvell Technology Group by 12.3% in the 3rd quarter. Oak Associates Ltd. OH now owns 173,400 shares of the semiconductor company’s stock worth $3,104,000 after acquiring an additional 19,000 shares in the last quarter. Institutional investors and hedge funds own 78.69% of the company’s stock.

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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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