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 that occurred on Wednesday, January 17th. The shares were sold at an average price of $23.65, for a total value of $473,000.00. Following the transaction, the director now directly owns 19,702 shares in the company, valued at approximately $465,952.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) opened at $21.30 on Friday. Marvell Technology Group Ltd. has a 12-month low of $14.58 and a 12-month high of $24.22. The company has a market capitalization of $10,460.00, a PE ratio of 37.37, a PEG ratio of 1.12 and a beta of 0.95.

Marvell Technology Group (NASDAQ:MRVL) last posted its earnings results on Tuesday, November 28th. The semiconductor company reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.01. The firm had revenue of $616.00 million for the quarter, compared to analysts’ expectations of $613.49 million. Marvell Technology Group had a return on equity of 11.93% and a net margin of 16.53%. The company’s quarterly revenue was down 5.8% on a year-over-year basis. During the same period last year, the firm earned $0.20 EPS. research analysts forecast that Marvell Technology Group Ltd. will post 1.01 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Wednesday, December 27th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date was Tuesday, December 26th. Marvell Technology Group’s dividend payout ratio is presently 42.11%.

Institutional investors have recently modified their holdings of the stock. D.A. Davidson & CO. lifted its stake in Marvell Technology Group by 10.2% in the 2nd quarter. D.A. Davidson & CO. now owns 6,461 shares of the semiconductor company’s stock valued at $106,000 after buying an additional 600 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in Marvell Technology Group in the 3rd quarter worth approximately $106,000. Tower Research Capital LLC TRC lifted 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 purchasing an additional 3,704 shares in the last quarter. Massey Quick Simon & CO. LLC purchased a new position in Marvell Technology Group in the 3rd quarter worth approximately $124,000. Finally, American International Group Inc. purchased a new position in Marvell Technology Group in the 4th quarter worth approximately $181,000. 78.92% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts recently issued reports on MRVL shares. B. Riley reissued a “buy” rating and issued a $24.00 price objective on shares of Marvell Technology Group in a research note on Monday, November 20th. Craig Hallum restated a “buy” rating on shares of Marvell Technology Group in a report on Tuesday, November 21st. Loop Capital restated a “buy” rating and set a $26.00 target price on shares of Marvell Technology Group in a report on Tuesday, November 21st. Credit Suisse Group restated an “outperform” rating and set a $30.00 target price (up previously from $22.00) on shares of Marvell Technology Group in a report on Tuesday, November 28th. Finally, Barclays upgraded Marvell Technology Group from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $20.00 to $30.00 in a report on Tuesday, November 21st. Eight investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $23.92.

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About Marvell Technology Group

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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