Insider Selling: Marvell Technology Group Ltd. (NASDAQ:MRVL) CFO Sells 36,077 Shares of Stock

Marvell Technology Group Ltd. (NASDAQ:MRVL) CFO Jean X. Hu sold 36,077 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $25.56, for a total value of $922,128.12. Following the sale, the chief financial officer now owns 125,917 shares of the company’s stock, valued at $3,218,438.52. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Marvell Technology Group stock traded up $0.75 during trading on Friday, reaching $24.04. The company had a trading volume of 6,281,731 shares, compared to its average volume of 7,542,705. The company has a current ratio of 3.06, a quick ratio of 2.68 and a debt-to-equity ratio of 0.23. The firm’s 50-day simple moving average is $24.53 and its 200 day simple moving average is $24.04. The firm has a market capitalization of $15.54 billion, a price-to-earnings ratio of 28.28, a price-to-earnings-growth ratio of 10.94 and a beta of 1.19. Marvell Technology Group Ltd. has a 52 week low of $14.34 and a 52 week high of $27.64.

Marvell Technology Group (NASDAQ:MRVL) last posted its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.16 EPS for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.11. Marvell Technology Group had a positive return on equity of 5.25% and a negative net margin of 14.42%. The business had revenue of $656.56 million for the quarter, compared to analysts’ expectations of $650.29 million. During the same period last year, the firm earned $0.28 earnings per share. The business’s quarterly revenue was down 1.3% on a year-over-year basis. On average, analysts predict that Marvell Technology Group Ltd. will post 0.34 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 30th. Stockholders of record on Thursday, October 10th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $0.24 annualized dividend and a dividend yield of 1.00%. Marvell Technology Group’s dividend payout ratio (DPR) is 28.24%.

Hedge funds have recently modified their holdings of the company. Jennison Associates LLC increased its holdings in shares of Marvell Technology Group by 7.8% in the first quarter. Jennison Associates LLC now owns 7,375,792 shares of the semiconductor company’s stock worth $146,705,000 after purchasing an additional 533,146 shares during the last quarter. Daiwa Securities Group Inc. grew its position in Marvell Technology Group by 190.1% in the second quarter. Daiwa Securities Group Inc. now owns 66,791 shares of the semiconductor company’s stock worth $1,595,000 after acquiring an additional 43,767 shares in the last quarter. Signaturefd LLC boosted its position in shares of Marvell Technology Group by 27.2% during the second quarter. Signaturefd LLC now owns 1,859 shares of the semiconductor company’s stock valued at $44,000 after buying an additional 397 shares during the period. Aperio Group LLC raised its stake in shares of Marvell Technology Group by 16.1% during the second quarter. Aperio Group LLC now owns 165,390 shares of the semiconductor company’s stock valued at $3,948,000 after acquiring an additional 22,993 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Marvell Technology Group by 128.1% during the second quarter. Price T Rowe Associates Inc. MD now owns 97,954,732 shares of the semiconductor company’s stock valued at $2,338,179,000 after acquiring an additional 55,005,127 shares in the last quarter.

Several brokerages recently weighed in on MRVL. Needham & Company LLC restated a “buy” rating and set a $28.00 target price on shares of Marvell Technology Group in a report on Sunday, September 1st. Barclays set a $30.00 target price on Marvell Technology Group and gave the stock a “buy” rating in a research report on Friday, August 30th. Cowen set a $27.00 target price on Marvell Technology Group and gave the stock an “outperform” rating in a research report on Monday, August 26th. Bank of America set a $28.00 target price on Marvell Technology Group and gave the stock a “buy” rating in a research report on Friday, August 30th. Finally, Piper Jaffray Companies set a $30.00 price target on Marvell Technology Group and gave the stock a “buy” rating in a research note on Friday, August 30th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-one have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $27.11.

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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