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Insider Selling: Marvell Technology Group Ltd. (NASDAQ:MRVL) CEO Sells 7,500 Shares of Stock

Last updated on Friday, July 17, 2020 | 2020 MarketBeat

Marvell Technology Group Ltd. (NASDAQ:MRVL) CEO Matthew J. Murphy sold 7,500 shares of the company's stock in a transaction dated Wednesday, July 15th. The stock was sold at an average price of $36.72, for a total transaction of $275,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

MRVL stock traded down $0.07 during mid-day trading on Friday, reaching $36.52. 4,674,161 shares of the stock traded hands, compared to its average volume of 10,335,780. The firm has a market capitalization of $24.30 billion, a PE ratio of 16.33, a P/E/G ratio of 2.86 and a beta of 1.08. The business has a 50-day moving average of $34.77 and a two-hundred day moving average of $27.41. Marvell Technology Group Ltd. has a 52 week low of $16.45 and a 52 week high of $39.40. The company has a quick ratio of 1.75, a current ratio of 2.14 and a debt-to-equity ratio of 0.17.

Marvell Technology Group (NASDAQ:MRVL) last posted its quarterly earnings data on Thursday, May 28th. The semiconductor company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.04. The business had revenue of $694.00 million during the quarter, compared to analysts' expectations of $680.19 million. Marvell Technology Group had a return on equity of 2.82% and a net margin of 55.66%. The firm's revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.16 EPS. On average, equities research analysts anticipate that Marvell Technology Group Ltd. will post 0.57 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 29th. Stockholders of record on Monday, July 13th will be given a $0.06 dividend. The ex-dividend date is Friday, July 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.66%. Marvell Technology Group's dividend payout ratio is 75.00%.

Several equities research analysts recently weighed in on the stock. B. Riley upped their price objective on shares of Marvell Technology Group from $34.00 to $38.00 and gave the stock a "buy" rating in a report on Friday, May 29th. Benchmark upped their target price on Marvell Technology Group from $30.00 to $35.00 and gave the company a "buy" rating in a report on Wednesday, May 27th. Susquehanna Bancshares reiterated a "buy" rating and issued a $36.00 price target on shares of Marvell Technology Group in a research report on Friday, May 29th. Morgan Stanley boosted their price objective on Marvell Technology Group from $33.50 to $36.00 and gave the stock an "equal weight" rating in a report on Tuesday, June 16th. Finally, JPMorgan Chase & Co. raised their target price on shares of Marvell Technology Group from $31.00 to $36.00 and gave the stock an "overweight" rating in a report on Friday, May 29th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company's stock. Marvell Technology Group currently has an average rating of "Buy" and an average price target of $32.96.

Institutional investors have recently made changes to their positions in the company. First Mercantile Trust Co. raised its stake in Marvell Technology Group by 1.5% during the 1st quarter. First Mercantile Trust Co. now owns 26,464 shares of the semiconductor company's stock valued at $599,000 after purchasing an additional 396 shares during the last quarter. Gagnon Securities LLC raised its holdings in shares of Marvell Technology Group by 3.5% during the first quarter. Gagnon Securities LLC now owns 14,200 shares of the semiconductor company's stock worth $321,000 after acquiring an additional 477 shares during the period. American International Group Inc. boosted its stake in Marvell Technology Group by 5.1% in the 1st quarter. American International Group Inc. now owns 10,808 shares of the semiconductor company's stock worth $245,000 after purchasing an additional 524 shares during the period. Savior LLC raised its stake in shares of Marvell Technology Group by 1.6% in the 1st quarter. Savior LLC now owns 32,553 shares of the semiconductor company's stock valued at $737,000 after purchasing an additional 528 shares during the period. Finally, Pendal Group Ltd lifted its holdings in shares of Marvell Technology Group by 4.5% in the first quarter. Pendal Group Ltd now owns 20,338 shares of the semiconductor company's stock valued at $460,000 after purchasing an additional 877 shares in the last quarter. Institutional investors and hedge funds own 91.91% of the company's stock.

About Marvell Technology Group

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, including hard disk drive (HDD) and solid-state drive controllers, as well as preamplifiers; supports a variety of host system interfaces consisting of serial attached SCSI (SAS), serial advanced technology attachment (SATA), peripheral component interconnect express, and non-volatile memory express; and develops software-enabled silicon solutions comprising SATA port multipliers, bridges, SATA, SAS, and non-volatile memory express redundant array of independent disks controllers and converged storage processors for enterprises, data centers, and cloud computing businesses.

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