Marvell Technology Group Ltd. (NASDAQ:MRVL) CEO Matthew J. Murphy Sells 15,000 Shares

Marvell Technology Group Ltd. (NASDAQ:MRVL) CEO Matthew J. Murphy sold 15,000 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $24.83, for a total value of $372,450.00. Following the completion of the transaction, the chief executive officer now directly owns 1,755 shares in the company, valued at approximately $43,576.65. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Shares of MRVL traded down $0.01 during midday trading on Friday, reaching $24.86. 6,932,185 shares of the stock were exchanged, compared to its average volume of 8,219,478. Marvell Technology Group Ltd. has a 52 week low of $14.34 and a 52 week high of $27.64. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.23. The company’s 50 day moving average is $25.06 and its two-hundred day moving average is $23.18. The company has a market capitalization of $16.59 billion, a P/E ratio of 29.25, a PEG ratio of 11.66 and a beta of 1.19.

Marvell Technology Group (NASDAQ:MRVL) last posted its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.11. Marvell Technology Group had a positive return on equity of 5.22% and a negative net margin of 14.42%. The business had revenue of $656.56 million for the quarter, compared to the consensus estimate of $650.29 million. During the same quarter in the prior year, the company earned $0.28 EPS. The business’s revenue was down 1.3% compared to the same quarter last year. On average, sell-side analysts expect that Marvell Technology Group Ltd. will post 0.34 EPS for the current year.

Several equities analysts have commented on MRVL shares. MKM Partners upped their price objective on Marvell Technology Group from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Zacks Investment Research downgraded Marvell Technology Group from a “hold” rating to a “sell” rating and set a $29.00 price objective on the stock. in a research report on Thursday, July 25th. Goldman Sachs Group downgraded Marvell Technology Group from a “buy” rating to a “neutral” rating and upped their price objective for the company from $24.00 to $25.00 in a research report on Sunday, July 21st. They noted that the move was a valuation call. Benchmark set a $30.00 price objective on Marvell Technology Group and gave the company a “buy” rating in a research report on Friday, August 30th. Finally, ValuEngine downgraded Marvell Technology Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $26.96.

Institutional investors and hedge funds have recently bought and sold shares of the company. Capital Investment Advisory Services LLC purchased a new stake in shares of Marvell Technology Group during the 2nd quarter worth $31,000. Patriot Financial Group Insurance Agency LLC lifted 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 worth $43,000 after purchasing an additional 1,201 shares during the last quarter. Signaturefd LLC lifted 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 worth $44,000 after purchasing an additional 397 shares during the last quarter. Mizuho Securities Co. Ltd. purchased a new stake in shares of Marvell Technology Group during the 2nd quarter worth $48,000. Finally, Griffin Asset Management Inc. purchased a new stake in shares of Marvell Technology Group during the 2nd quarter worth $50,000. 95.98% of the stock is currently owned by institutional investors and hedge funds.

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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