Marvell Technology Group Ltd. (NASDAQ:MRVL) CEO Sells $6,895,300.00 in Stock

Marvell Technology Group Ltd. (NASDAQ:MRVL) CEO Matthew J. Murphy sold 265,000 shares of the firm’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $26.02, for a total value of $6,895,300.00. Following the transaction, the chief executive officer now directly owns 1,755 shares of the company’s stock, valued at approximately $45,665.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

NASDAQ MRVL opened at $25.92 on Friday. Marvell Technology Group Ltd. has a one year low of $14.34 and a one year high of $26.65. The stock has a 50-day simple moving average of $24.23. The company has a market cap of $17.37 billion, a P/E ratio of 30.49, a price-to-earnings-growth ratio of 8.24 and a beta of 1.17. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.07 and a quick ratio of 1.67.

Marvell Technology Group (NASDAQ:MRVL) last released its quarterly earnings data on Thursday, May 30th. The semiconductor company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02. Marvell Technology Group had a positive return on equity of 5.88% and a negative net margin of 12.18%. The company had revenue of $662.00 million during the quarter, compared to the consensus estimate of $651.07 million. During the same period last year, the company earned $0.32 EPS. Marvell Technology Group’s revenue for the quarter was up 9.5% on a year-over-year basis. On average, equities research analysts anticipate that Marvell Technology Group Ltd. will post 0.43 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, July 12th will be issued a $0.06 dividend. The ex-dividend date is Thursday, July 11th. This represents a $0.24 annualized dividend and a yield of 0.93%. Marvell Technology Group’s payout ratio is 28.24%.

Several equities analysts have commented on MRVL shares. Raymond James set a C$2.25 price objective on Integra Resources and gave the company an “outperform” rating in a research report on Wednesday, June 19th. Piper Jaffray Companies lifted their price target on Marvell Technology Group from $22.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Cowen reaffirmed a “buy” rating on shares of ImmunoGen in a research report on Thursday, June 27th. B. Riley set a $18.00 price target on TiVo and gave the stock a “buy” rating in a research report on Friday, May 31st. Finally, TheStreet raised Marvell Technology Group from a “c+” rating to a “b-” rating in a research report on Wednesday, July 3rd. Five research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. Marvell Technology Group has a consensus rating of “Buy” and an average target price of $26.00.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Selz Capital LLC bought a new stake in shares of Marvell Technology Group during the 1st quarter valued at about $857,000. Columbus Circle Investors bought a new stake in shares of Marvell Technology Group during the 1st quarter valued at about $10,857,000. Investors Research Corp bought a new stake in shares of Marvell Technology Group during the 1st quarter valued at about $135,000. Jennison Associates LLC grew its stake in shares of Marvell Technology Group by 7.8% during the 1st quarter. Jennison Associates LLC now owns 7,375,792 shares of the semiconductor company’s stock valued at $146,705,000 after purchasing an additional 533,146 shares during the period. Finally, Calamos Advisors LLC bought a new stake in shares of Marvell Technology Group during the 1st quarter valued at about $4,337,000.

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, 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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