Michael G. Strachan Sells 10,000 Shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) Stock

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.

A number of equities analysts have weighed in on the company. Piper Jaffray Companies 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. Morgan Stanley set a $20.00 target price on Marvell Technology Group and gave the stock a “hold” rating in a research report on Friday, August 30th. Goldman Sachs Group lowered Marvell Technology Group from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $24.00 to $25.00 in a research report on Sunday, July 21st. They noted that the move was a valuation call. Raymond James assumed coverage on Marvell Technology Group in a research report on Wednesday, June 19th. They issued a “market perform” rating and a $24.55 target price for the company. Finally, 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-two have given a buy rating to the company. Marvell Technology Group currently has an average rating of “Buy” and an average target price of $26.96.

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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