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 Friday, June 21st. The shares were sold at an average price of $23.78, for a total transaction of $237,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

MRVL stock traded up $0.29 on Thursday, hitting $26.39. 9,325,111 shares of the company’s stock traded hands, compared to its average volume of 11,637,646. Marvell Technology Group Ltd. has a 1-year low of $14.34 and a 1-year high of $26.65. The firm has a market cap of $17.02 billion, a PE ratio of 31.05, a price-to-earnings-growth ratio of 8.13 and a beta of 1.17. The stock’s fifty day moving average is $24.06. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.67 and a current ratio of 2.07.

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

The company 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. This represents a $0.24 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend is Thursday, July 11th. Marvell Technology Group’s dividend payout ratio (DPR) is currently 28.24%.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC grew its holdings in shares of Marvell Technology Group by 48.1% during the fourth quarter. FMR LLC now owns 80,824,523 shares of the semiconductor company’s stock worth $1,308,549,000 after purchasing an additional 26,251,979 shares in the last quarter. Vanguard Group Inc lifted its holdings in Marvell Technology Group by 45.0% in the third quarter. Vanguard Group Inc now owns 53,229,098 shares of the semiconductor company’s stock valued at $1,027,321,000 after acquiring an additional 16,517,490 shares during the period. BlackRock Inc. lifted its holdings in Marvell Technology Group by 29.1% in the first quarter. BlackRock Inc. now owns 46,081,466 shares of the semiconductor company’s stock valued at $916,559,000 after acquiring an additional 10,388,875 shares during the period. FIL Ltd lifted its holdings in Marvell Technology Group by 117.7% in the first quarter. FIL Ltd now owns 10,543,241 shares of the semiconductor company’s stock valued at $209,705,000 after acquiring an additional 5,700,711 shares during the period. Finally, Norges Bank bought a new position in Marvell Technology Group in the fourth quarter valued at about $90,449,000.

Several equities research analysts recently weighed in on MRVL shares. Morgan Stanley reduced their price target on Zuora from $22.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Friday, May 31st. MKM Partners lifted their price target on Marvell Technology Group from $25.00 to $28.00 and gave the company a “buy” rating in a report on Friday, May 31st. Piper Jaffray Companies boosted their price target on Marvell Technology Group from $22.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. ValuEngine raised Vale from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Citigroup cut Lear from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $188.00 to $144.00 in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $26.00.

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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