Economy

Marvell Technology Group Ltd. (MRVL) Major Shareholder Sells $17730000.00 in Stock

(NASDAQ:MRVL) major shareholder Sehat Sutardja sold 1,000,000 shares of the stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $17.57, for a total value of $9,439,218.95. Greenwood Capital Associates LLC now owns 18,900 shares of the semiconductor company's stock worth $312,000 after purchasing an additional 5,105 shares in the last quarter. 07, 2017, the great number of shares disposed came courtesy the 10% Owner; Sutardja, Sehat disposed a total of 537,235 shares at an average price of $17.57, amounting to approximately $9,439,219. The shares were sold at an average price of $17.84, for a total transaction of $24,530,000.00.

On Monday, September 11th, Sehat Sutardja sold 492,343 shares of Marvell Technology Group stock. The shares were sold at an average price of $17.41, for a total value of $8,571,691.63.

Traders are feeling more bullish on shares of Marvell Technology Group Ltd. of late if you look at the fall in short interest. The shares were sold at an average price of $17.46, for a total value of $18,199,308.78. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Marvell Technology Group by 9.5% during the second quarter. The shares were sold at an average price of $17.84, for a total transaction of $7,500,328.48. Finally, Cowen and Company reaffirmed a "buy" rating on shares of Marvell Technology Group in a report on Friday, July 14th. (NASDAQ:MRVL) shares saw light trading volume with 6,939K shares changing hands in the last trading session.

Market Capitalization can be thought of as the overall price to buy the company.

Many analysts are providing their Estimated Earnings analysis for Marvell Technology Group Ltd. and for the current quarter 24 analysts have projected that the stock could give an Average Earnings estimate of $0.32/share.

The difference of 52 week low value as well as 52 week high value and the current price of the stock suggests the next move of the shares.

Marvell Technology Group (NASDAQ:MRVL) last posted its earnings results on Thursday, August 24th. Analysts reported that the Price Target for Marvell Technology Group Ltd. might touch $25 high while the Average Price Target and Low price Target is $19.06 and $10 respectively. The business's revenue was up 16.4% on a year-over-year basis. Next quarter's EPS is forecasted at $0.27 with next year's EPS projected to be $1.25.

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Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Marvell Technology Group by 0.9% during the second quarter. First Trust Advisors LP now owns 364,273 shares of the semiconductor company's stock valued at $5,559,000 after acquiring an additional 210,421 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Marvell Technology Group by 1,740.4% in the first quarter. The value in dollars increased from $876,000 to $221,000,000 increasing 25,128.3% since the last quarter. Marvell Technology Group Ltd. Lion Point Capital, Lp now owns 3,550,000 shares worth $58,646,000. Institutional investors own 76.61% of the company's stock.

Several research analysts recently weighed in on the company.

On August 25 Jefferies maintained a stock rating of "Hold" and raised the price expectation to $18.50 from $14.00. Loop Capital reaffirmed a "buy" rating and issued a $22.00 target price on shares of Marvell Technology Group in a research report on Friday, August 25th. CIBC upgraded shares of Marvell Technology Group from a "market perform" rating to an "outperform" rating in a report on Friday, May 26th. First Trust Advisors LP increased its holdings in shares of Marvell Technology Group by 136.8% during the first quarter. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The average volume of a stock suggests the liquidity of a particular company.

Marvell Technology Group Ltd., launched on January 11, 1995, is a semiconductor provider of application-specific standard products. The Company is involved in the design, development and sale of integrated circuits.



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