Marvell Technology Group (NASDAQ:MRVL) Sees Large Volume Increase

Marvell Technology Group Ltd. (NASDAQ:MRVL) saw unusually-high trading volume on Wednesday . Approximately 609,912 shares traded hands during mid-day trading, a decline of 94% from the previous session’s volume of 10,169,657 shares.The stock last traded at $28.10 and had previously closed at $28.07.

MRVL has been the topic of a number of research analyst reports. B. Riley set a $28.00 target price on Marvell Technology Group and gave the stock a “buy” rating in a research report on Monday, August 26th. Craig Hallum upgraded Marvell Technology Group from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research report on Friday, August 30th. Oppenheimer 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. Zacks Investment Research downgraded Marvell Technology Group from a “hold” rating to a “sell” rating and set a $25.00 target price on the stock. in a research report on Friday, October 11th. Finally, Susquehanna Bancshares set a $28.00 target price on Marvell Technology Group and gave the stock a “buy” rating in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. Marvell Technology Group presently has an average rating of “Buy” and a consensus price target of $27.42.

The company has a debt-to-equity ratio of 0.23, a current ratio of 3.06 and a quick ratio of 2.68. The business has a 50-day simple moving average of $24.93 and a 200-day simple moving average of $24.53. The firm has a market capitalization of $18.72 billion, a PE ratio of 31.60, a P/E/G ratio of 13.51 and a beta of 1.19.

Marvell Technology Group (NASDAQ:MRVL) last issued its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.11. Marvell Technology Group had a positive return on equity of 5.25% 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 period in the prior year, the business posted $0.28 earnings per share. The company’s quarterly revenue was down 1.3% compared to the same quarter last year. On average, research analysts expect that Marvell Technology Group Ltd. will post 0.34 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Stockholders of record on Thursday, October 10th were paid a dividend of $0.06 per share. The ex-dividend date was Wednesday, October 9th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.89%. Marvell Technology Group’s dividend payout ratio is 28.24%.

In other news, CEO Matthew J. Murphy sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $28.00, for a total transaction of $2,800,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Jean X. Hu sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $26.86, for a total value of $268,600.00. In the last ninety days, insiders have sold 370,933 shares of company stock worth $9,666,982. Insiders own 1.10% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lisanti Capital Growth LLC bought a new position in shares of Marvell Technology Group during the third quarter valued at approximately $475,000. Banco Santander S.A. bought a new position in shares of Marvell Technology Group during the third quarter valued at approximately $217,000. Catalyst Capital Advisors LLC bought a new position in shares of Marvell Technology Group during the third quarter valued at approximately $12,360,000. Massachusetts Financial Services Co. MA grew its stake in shares of Marvell Technology Group by 7.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,791,872 shares of the semiconductor company’s stock valued at $119,652,000 after buying an additional 325,085 shares during the last quarter. Finally, Cookson Peirce & Co. Inc. bought a new position in shares of Marvell Technology Group during the third quarter valued at approximately $25,567,000.

About Marvell Technology Group (NASDAQ:MRVL)

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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