Marvell Technology Group Ltd. (NASDAQ:MRVL) is now up 71.3% compared to a 12-month low of $13.59. We have seen the price to move 7.83% higher and get settled at $23.28 on 11/21/2017. At recent session, it appeared stuck in a range of $21.94 to $23.4099. This company shares are -13.57% up from its target price of $20.12 and the current market capitalization stands at $11.53B. The recent change has given its price a 24.53% lead over SMA 50 and 6.74% lead over its 52-week high. The stock witnessed 26.04% gains, 46.51% gains and 38.74% gains for the 1-month, 3-month and 6-month period, respectively. To measure price-variation, we found MRVL’s volatility during a week at 3.83% and during a month it has been found around 2.26%.Marvell Technology Group Ltd. (MRVL) Top Holders
Institutional investors currently hold around $8.04 billion or 81.7% in MRVL stock. Look at its top three institutional owners. Price T Rowe Associates Inc /Md/ owns $956.64 million in Marvell Technology Group Ltd., which represents roughly 8.3% of the company’s market cap and approximately 11.89% of the institutional ownership. Similar statistics are true for the second largest owner, Starboard Value Lp, which owns 33,720,786 shares of the stock are valued at $684.2 million. The third largest holder is Vanguard Group Inc, which currently holds $658.65 million worth of this stock and that ownership represents nearly 5.71% of its market capitalization.Marvell Technology Group Ltd. 13F Filings
At the end of 09/30/2017 reporting period, 172 institutional holders increased their position in Marvell Technology Group Ltd. (NASDAQ:MRVL) by some 45,769,199 shares, 173 decreased positions by 37,582,450 and 39 held positions by 313,097,130. That puts total institutional holdings at 396,448,779 shares, according to SEC filings. The stock grabbed 44 new institutional investments totaling 2,407,185 shares while 44 institutional investors sold out their entire positions totaling 7,256,875 shares.
Multiple company employees have indulged in significant insider trading. Marvell Technology Group Ltd. disclosed in a document filed with the US Securities and Exchange Commission (SEC) that 10% Owner Sutardja, Sehat has sold 6,059,353 shares of Marvell Technology Group Ltd. (MRVL) in trading session dated Oct. 24, 2017. These shares are worth $112,461,592 and were traded at $18.56 each. The SEC filing shows that Sutardja, Sehat performed a sale of 1,266,498 shares. The 10% Owner disposed these shares by way of transaction on Oct. 23, 2017. The company’s shares were given away at $18.55 per share worth to an income of some $23,493,538 on account of Sutardja, Sehat.
10% Owner, Sutardja, Sehat, sold 474,771 common shares of Marvell Technology Group Ltd. (MRVL) in the open market. In a transaction dated Oct. 18, 2017, the shares were put up for sale at an average price of $18.48, raking in a sum of $8,773,768. After this sale, 54,357,740 common shares of MRVL are directly owned by the insider, with total stake valued at $1,265,448,187.
In the transaction dated Oct. 12, 2017, the great number of shares disposed came courtesy the 10% Owner; Sutardja, Sehat disposed a total of 1,424,819 shares at an average price of $18.52, amounting to approximately $26,387,648. The insider now directly owns 54,832,511 shares worth $1,276,500,856.Marvell Technology Group Ltd. (MRVL) Analyst Guide
Several analysts have released their opinion on Marvell Technology Group Ltd. (NASDAQ:MRVL), with 8 analysts believing it is a strong buy. Whereas 7 of them predict the stock is a hold. Also, there are 1 buy, 0 sell and 0 strong sell ratings, collectively assigning a 1.94 average brokerage recommendation.