Marvell Technology Group Ltd. (NASDAQ:MRVL) CEO Matthew J. Murphy sold 30,000 shares of the stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $24.24, for a total transaction of $727,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Marvell Technology Group Ltd. (NASDAQ:MRVL) traded up $0.30 during midday trading on Tuesday, hitting $23.12. 7,531,092 shares of the stock traded hands, compared to its average volume of 9,100,041. The firm has a market capitalization of $11,495.19, a price-to-earnings ratio of 22.45, a price-to-earnings-growth ratio of 1.78 and a beta of 0.91. Marvell Technology Group Ltd. has a 12 month low of $14.58 and a 12 month high of $25.18.
Marvell Technology Group (NASDAQ:MRVL) last posted its quarterly earnings data on Thursday, March 8th. The semiconductor company reported $0.32 earnings per share for the quarter, topping the Thomson Reuters’ 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 net margin of 21.56% and a return on equity of 13.25%. The company’s revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the business posted $0.22 earnings per share. research analysts forecast that Marvell Technology Group Ltd. will post 1.16 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 18th. Stockholders of record on Thursday, March 29th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.04%. The ex-dividend date is Wednesday, March 28th. Marvell Technology Group’s payout ratio is 23.30%.
Several equities research analysts recently weighed in on MRVL shares. B. Riley reiterated a “buy” rating and issued a $24.00 target price on shares of Marvell Technology Group in a research note on Monday, November 20th. Loop Capital reiterated a “buy” rating and issued a $26.00 target price on shares of Marvell Technology Group in a research note on Tuesday, November 21st. Craig Hallum reiterated a “buy” rating on shares of Marvell Technology Group in a research note on Tuesday, November 21st. Credit Suisse Group restated an “outperform” rating and set a $30.00 price target (up previously from $22.00) on shares of Marvell Technology Group in a research note on Tuesday, November 28th. Finally, Cowen raised their price target on shares of Marvell Technology Group from $21.00 to $29.00 and gave the stock an “outperform” rating in a research note on Friday, March 9th. Seven equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Marvell Technology Group presently has an average rating of “Buy” and a consensus target price of $25.02.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Advisor Group Inc. increased its holdings in shares of Marvell Technology Group by 516.2% in the fourth quarter. Advisor Group Inc. now owns 4,800 shares of the semiconductor company’s stock valued at $103,000 after purchasing an additional 4,021 shares in the last quarter. Delpha Capital Management LLC acquired a new stake in shares of Marvell Technology Group in the fourth quarter valued at approximately $112,000. Tower Research Capital LLC TRC increased its holdings in shares of Marvell Technology Group by 208.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,482 shares of the semiconductor company’s stock valued at $118,000 after purchasing an additional 3,704 shares in the last quarter. Massey Quick Simon & CO. LLC acquired a new stake in shares of Marvell Technology Group in the third quarter valued at approximately $124,000. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Marvell Technology Group by 182.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 7,322 shares of the semiconductor company’s stock valued at $157,000 after purchasing an additional 4,734 shares in the last quarter. 91.65% of the stock is owned by institutional investors.
ILLEGAL ACTIVITY NOTICE: This piece of content was first published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece of content on another publication, it was illegally stolen and reposted in violation of U.S. & international copyright and trademark law. The correct version of this piece of content can be accessed at https://ledgergazette.com/2018/03/21/marvell-technology-group-ltd-mrvl-ceo-matthew-j-murphy-sells-30000-shares.html.
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.
Receive News & Ratings for Marvell Technology Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marvell Technology Group and related companies with MarketBeat.com's FREE daily email newsletter.