Wednesday, October 11, 2017 10:15 PM ET
Marvell Technology Group (MRVL) sees Significant Insider Selling Continuing
A filing with the SEC today disclosed a substantial insider sale of Marvell Technology Group shares as — Sehat Sutardja, 10% Owner — sold 2,727,810 shares in the company having a market value of approximately $50,433,246. There was one insider buy/sell transaction in the past 90 days prior to this transaction which resulted in the sale of 6,251,537 shares. Adding the most recent activity to this 90-day history indicates insider trades have been net sales of 8,979,347 shares and have averaged 4,489,674 shares per transaction over this time period.
Marvell Technology Group level of buy-sell trading activity is close to the 77 member peer company average. The Semiconductors peer group saw 165 buy/sell trades during this period for an average of 2.1 transactions per company. However, the number of shares per buy/sell trade transacted by Marvell Technology Group insiders is higher. Within the peer group there were 176,430 shares purchased and 52,596,298 shares sold with company insiders disposing of 317,696 shares on average.
Insider buying and selling activity that is significant has been determined by eliminating all trading activity reported to the SEC that involves awards, options, exercise of derivative securities, company buy-backs, taxes, gifts, shares acquired via inheritance and tenders or exchange offers in composing and writing this story.
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