Marvell Technology Group Ltd. (NASDAQ:MRVL) EVP Dan Christman sold 64,856 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $24.97, for a total transaction of $1,619,454.32. Following the sale, the executive vice president now owns 1,629 shares of the company’s stock, valued at $40,676.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Shares of MRVL stock traded up $1.18 on Wednesday, reaching $25.99. 8,039,400 shares of the company’s stock traded hands, compared to its average volume of 11,019,948. The company has a market capitalization of $16.71 billion, a P/E ratio of 30.58, a price-to-earnings-growth ratio of 11.72 and a beta of 1.19. Marvell Technology Group Ltd. has a 12-month low of $14.34 and a 12-month high of $27.64. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.68 and a current ratio of 3.06. The business’s 50 day moving average price is $24.97 and its two-hundred day moving average price is $23.29.

Marvell Technology Group (NASDAQ:MRVL) last announced its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $656.56 million during the quarter, compared to the consensus estimate of $650.29 million. During the same period in the prior year, the business earned $0.28 EPS. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. Research analysts predict that Marvell Technology Group Ltd. will post 0.34 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the company. River & Mercantile Asset Management LLP purchased a new stake in shares of Marvell Technology Group during the second quarter worth $1,527,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Marvell Technology Group by 4.2% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 177,909 shares of the semiconductor company’s stock valued at $4,247,000 after purchasing an additional 7,191 shares during the last quarter. Treasurer of the State of North Carolina boosted its position in Marvell Technology Group by 24.1% during the second quarter. Treasurer of the State of North Carolina now owns 331,355 shares of the semiconductor company’s stock valued at $7,909,000 after purchasing an additional 64,430 shares during the last quarter. Chartwell Investment Partners LLC acquired a new stake in Marvell Technology Group during the second quarter valued at $1,641,000. Finally, Griffin Asset Management Inc. purchased a new position in Marvell Technology Group in the second quarter valued at about $50,000.

MRVL has been the topic of several recent research reports. Rosenblatt Securities set a $28.00 price target on shares of Marvell Technology Group and gave the stock a “buy” rating in a research report on Friday, August 30th. BidaskClub downgraded Marvell Technology Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 22nd. BMO Capital Markets set a $28.00 price objective on Marvell Technology Group and gave the stock a “buy” rating in a research note on Monday, August 26th. Cowen set a $27.00 target price on Marvell Technology Group and gave the stock an “outperform” rating in a report on Monday, August 26th. Finally, William Blair started coverage on Marvell Technology Group in a report on Monday, July 15th. They issued an “outperform” rating and a $25.40 target price on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $26.96.

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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