Marvell Technology Group Ltd. (NASDAQ:MRVL) EVP Dan Christman sold 5,732 shares of the company’s stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of $20.48, for a total transaction of $117,391.36. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
NASDAQ:MRVL traded up $0.76 on Thursday, hitting $22.36. The company had a trading volume of 462,730 shares, compared to its average volume of 13,944,397. The stock has a market capitalization of $14.66 billion, a price-to-earnings ratio of 9.56, a PEG ratio of 5.20 and a beta of 1.29. The company has a current ratio of 2.16, a quick ratio of 2.41 and a debt-to-equity ratio of 0.17. The firm has a 50 day moving average of $22.58 and a two-hundred day moving average of $24.87. Marvell Technology Group Ltd. has a 52 week low of $16.45 and a 52 week high of $28.85.
Marvell Technology Group (NASDAQ:MRVL) last issued its quarterly earnings data on Wednesday, March 4th. The semiconductor company reported $0.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.01. The business had revenue of $718.00 million during the quarter, compared to the consensus estimate of $710.81 million. Marvell Technology Group had a net margin of 58.70% and a return on equity of 2.74%. The firm’s revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.25 EPS. As a group, equities analysts forecast that Marvell Technology Group Ltd. will post 0.58 EPS for the current year.
Several analysts have commented on MRVL shares. Argus reiterated a “buy” rating and set a $30.00 target price on shares of Marvell Technology Group in a research report on Friday, March 6th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $32.00 target price on shares of Marvell Technology Group in a report on Friday, February 28th. William Blair reissued an “outperform” rating on shares of Marvell Technology Group in a report on Wednesday, December 4th. Stifel Nicolaus increased their target price on shares of Marvell Technology Group from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Finally, ValuEngine upgraded shares of Marvell Technology Group from a “hold” rating to a “buy” rating in a research report on Wednesday, March 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have assigned a buy rating to the company. Marvell Technology Group currently has a consensus rating of “Buy” and a consensus target price of $28.32.
Several hedge funds have recently added to or reduced their stakes in the company. Calamos Advisors LLC grew its position in Marvell Technology Group by 82.6% during the 4th quarter. Calamos Advisors LLC now owns 406,475 shares of the semiconductor company’s stock valued at $10,796,000 after purchasing an additional 183,828 shares during the last quarter. Boston Partners increased its stake in Marvell Technology Group by 3.7% during the fourth quarter. Boston Partners now owns 3,341,709 shares of the semiconductor company’s stock worth $88,764,000 after acquiring an additional 120,417 shares during the last quarter. California Public Employees Retirement System increased its stake in Marvell Technology Group by 12.9% during the fourth quarter. California Public Employees Retirement System now owns 1,633,316 shares of the semiconductor company’s stock worth $43,381,000 after acquiring an additional 187,054 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Marvell Technology Group by 3.6% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 147,974 shares of the semiconductor company’s stock worth $3,930,000 after acquiring an additional 5,167 shares during the last quarter. Finally, Simon Quick Advisors LLC increased its stake in Marvell Technology Group by 20.7% during the fourth quarter. Simon Quick Advisors LLC now owns 3,562 shares of the semiconductor company’s stock worth $95,000 after acquiring an additional 610 shares during the last quarter. 96.16% of the stock is owned by hedge funds and other institutional investors.
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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