Marvell Technology Group (MRVL) Shares Gap Down After Insider Selling

Shares of Marvell Technology Group (NASDAQ:MRVL) gapped down before the market opened on Thursday following insider selling activity. The stock had previously closed at $22.49, but opened at $22.02. Marvell Technology Group shares last traded at $21.04, with a volume of 10515545 shares.

Specifically, CEO Matthew J. Murphy sold 10,000 shares of the stock in a transaction that occurred on Wednesday, April 4th. The stock was sold at an average price of $20.00, for a total value of $200,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Matthew J. Murphy sold 30,000 shares of the stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $24.24, for a total value of $727,200.00. The disclosure for this sale can be found here. In the last three months, insiders sold 43,310 shares of company stock worth $1,001,344. 6.80% of the stock is owned by insiders.

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MRVL has been the topic of several recent research reports. ValuEngine raised Marvell Technology Group from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. BidaskClub raised Marvell Technology Group from a “hold” rating to a “buy” rating in a research report on Friday, February 23rd. Zacks Investment Research raised Marvell Technology Group from a “sell” rating to a “hold” rating in a research report on Tuesday, March 20th. UBS initiated coverage on Marvell Technology Group in a research report on Wednesday, April 4th. They set a “buy” rating on the stock. Finally, Cowen increased their target price on Marvell Technology Group from $21.00 to $29.00 and gave the company an “outperform” rating in a research report on Friday, March 9th. Seven analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $25.59.

The firm has a market cap of $10,932.93, a P/E ratio of 19.75, a price-to-earnings-growth ratio of 1.69 and a beta of 0.97.

Marvell Technology Group (NASDAQ:MRVL) last issued its earnings results on Thursday, March 8th. The semiconductor company reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.01. The company had revenue of $615.40 million during the quarter, compared to analyst estimates of $610.99 million. Marvell Technology Group had a return on equity of 13.13% and a net margin of 21.56%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the business posted $0.22 EPS. equities research analysts predict that Marvell Technology Group will post 1.16 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 18th. Investors of record on Thursday, March 29th were paid a $0.06 dividend. The ex-dividend date of this dividend was Wednesday, March 28th. This represents a $0.24 dividend on an annualized basis and a yield of 1.17%. Marvell Technology Group’s dividend payout ratio (DPR) is 23.08%.

Hedge funds have recently modified their holdings of the stock. Advisor Group Inc. raised its stake in Marvell Technology Group by 516.2% in the 4th quarter. Advisor Group Inc. now owns 4,800 shares of the semiconductor company’s stock worth $103,000 after acquiring an additional 4,021 shares during the last quarter. Delpha Capital Management LLC purchased a new position in Marvell Technology Group in the 4th quarter worth $112,000. Tower Research Capital LLC TRC raised its stake in Marvell Technology Group by 208.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,482 shares of the semiconductor company’s stock worth $118,000 after acquiring an additional 3,704 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in Marvell Technology Group by 182.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 7,322 shares of the semiconductor company’s stock worth $157,000 after acquiring an additional 4,734 shares during the last quarter. Finally, American International Group Inc. purchased a new position in Marvell Technology Group in the 4th quarter worth $181,000. Institutional investors own 91.56% of the company’s stock.

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Marvell Technology Group Company Profile

Marvell Technology Group Ltd. designs, develops, and markets analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a range of storage products, such as hard disk drive (HDD) and solid-state drive controllers, as well as HDD components, such as HDD preamps components; and develops software enabled silicon solutions consisting of serial advanced technology attachment port multipliers, bridges, serial attached SCSI, and non-volatile memory express redundant array of independent disks controllers and converged storage processors for enterprise, data centers, and cloud computing businesses.

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