Traders sold shares of Marvell Technology Group (NASDAQ:MRVL) on strength during trading hours on Wednesday. $17.14 million flowed into the stock on the tick-up and $53.72 million flowed out of the stock on the tick-down, for a money net flow of $36.58 million out of the stock. Of all equities tracked, Marvell Technology Group had the 0th highest net out-flow for the day. Marvell Technology Group traded up $0.59 for the day and closed at $22.07
Several research firms have recently issued reports on MRVL. UBS began coverage on Marvell Technology Group in a research report on Wednesday, April 4th. They set a “buy” rating for the company. Rosenblatt Securities began coverage on Marvell Technology Group in a research report on Tuesday, April 3rd. They set a “buy” rating and a $27.00 target price for the company. BidaskClub lowered Marvell Technology Group from a “buy” rating to a “hold” rating in a research report on Tuesday, March 27th. Zacks Investment Research upgraded Marvell Technology Group from a “sell” rating to a “hold” rating in a research report on Tuesday, March 20th. Finally, TheStreet lowered Marvell Technology Group from a “b” rating to a “c+” rating in a research report on Thursday, March 8th. Seven research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $25.52.
The stock has a market cap of $10,664.82, a PE ratio of 21.56, a P/E/G ratio of 1.65 and a beta of 0.97.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 18th. Investors of record on Thursday, March 29th will be given a $0.06 dividend. The ex-dividend date is Wednesday, March 28th. This represents a $0.24 annualized dividend and a dividend yield of 1.07%. Marvell Technology Group’s dividend payout ratio is presently 23.08%.
In other Marvell Technology Group news, CEO Matthew J. Murphy sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $24.24, for a total value of $727,200.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Marvell Semiconductor, Inc. Ca sold 1,512 shares of the business’s stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $23.86, for a total value of $36,076.32. The disclosure for this sale can be found here. Insiders sold a total of 61,512 shares of company stock valued at $1,436,276 over the last quarter. 6.80% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Advisor Group Inc. lifted its stake in Marvell Technology Group by 516.2% in the 4th quarter. Advisor Group Inc. now owns 4,800 shares of the semiconductor company’s stock valued at $103,000 after acquiring an additional 4,021 shares in the last quarter. Delpha Capital Management LLC bought a new stake in Marvell Technology Group in the 4th quarter valued at approximately $112,000. Tower Research Capital LLC TRC lifted its stake in Marvell Technology Group by 208.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,482 shares of the semiconductor company’s stock valued at $118,000 after acquiring an additional 3,704 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in Marvell Technology Group by 182.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 7,322 shares of the semiconductor company’s stock valued at $157,000 after acquiring an additional 4,734 shares in the last quarter. Finally, American International Group Inc. bought a new stake in Marvell Technology Group in the 4th quarter valued at approximately $181,000. Hedge funds and other institutional investors own 91.56% of the company’s stock.
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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, such as hard disk drive (HDD) and solid-state drive controllers, as well as HDD components, such as HDD preamps components; and develops software enabled silicon solutions consisting of serial advanced technology attachment port multipliers, bridges, serial attached SCSI, and non-volatile memory express redundant array of independent disks controllers and converged storage processors for enterprise, data centers, and cloud computing businesses.
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