Marvell Technology Group Ltd. (NASDAQ:MRVL) Director Michael G. Strachan sold 10,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $25.99, for a total transaction of $259,900.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of NASDAQ MRVL traded down $0.11 during midday trading on Friday, hitting $25.86. 2,823,721 shares of the company’s stock traded hands, compared to its average volume of 10,969,631. Marvell Technology Group Ltd. has a 1 year low of $14.34 and a 1 year high of $27.64. The stock has a market capitalization of $17.25 billion, a price-to-earnings ratio of 30.42, a price-to-earnings-growth ratio of 11.63 and a beta of 1.19. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.68 and a current ratio of 3.06. The firm has a fifty day moving average of $24.94 and a 200 day moving average of $23.35.
Marvell Technology Group (NASDAQ:MRVL) last announced its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.11. The company had revenue of $656.56 million during the quarter, compared to the consensus estimate of $650.29 million. Marvell Technology Group had a positive return on equity of 5.25% and a negative net margin of 14.42%. The firm’s revenue was down 1.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.28 EPS. On average, equities analysts anticipate that Marvell Technology Group Ltd. will post 0.34 earnings per share for the current year.
Several large investors have recently made changes to their positions in MRVL. Capital Investment Advisory Services LLC bought a new position in shares of Marvell Technology Group during the 2nd quarter valued at approximately $31,000. Patriot Financial Group Insurance Agency LLC grew its stake in shares of Marvell Technology Group by 198.2% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,807 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 1,201 shares during the period. Signaturefd LLC grew its stake in shares of Marvell Technology Group by 27.2% during the 2nd quarter. Signaturefd LLC now owns 1,859 shares of the semiconductor company’s stock valued at $44,000 after acquiring an additional 397 shares during the period. Mizuho Securities Co. Ltd. bought a new position in shares of Marvell Technology Group during the 2nd quarter valued at approximately $48,000. Finally, Griffin Asset Management Inc. bought a new position in shares of Marvell Technology Group during the 2nd quarter valued at approximately $50,000.
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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