ING Groep NV Has $4.36 Million Position in Marvell Technology, Inc. (NASDAQ:MRVL)

ING Groep NV trimmed its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 72.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 60,473 shares of the semiconductor company’s stock after selling 157,123 shares during the quarter. ING Groep NV’s holdings in Marvell Technology were worth $4,361,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Tokio Marine Asset Management Co. Ltd. grew its stake in shares of Marvell Technology by 1.4% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 24,512 shares of the semiconductor company’s stock valued at $1,768,000 after buying an additional 333 shares during the period. Metis Global Partners LLC increased its stake in Marvell Technology by 4.5% during the 3rd quarter. Metis Global Partners LLC now owns 30,447 shares of the semiconductor company’s stock valued at $2,196,000 after purchasing an additional 1,306 shares in the last quarter. Curi RMB Capital LLC raised its holdings in Marvell Technology by 56.2% during the third quarter. Curi RMB Capital LLC now owns 130,421 shares of the semiconductor company’s stock worth $9,406,000 after buying an additional 46,913 shares during the last quarter. Planning Capital Management Corp lifted its stake in shares of Marvell Technology by 80.1% in the third quarter. Planning Capital Management Corp now owns 1,261 shares of the semiconductor company’s stock valued at $91,000 after buying an additional 561 shares in the last quarter. Finally, KBC Group NV grew its holdings in shares of Marvell Technology by 7.2% during the third quarter. KBC Group NV now owns 121,865 shares of the semiconductor company’s stock valued at $8,788,000 after buying an additional 8,155 shares during the last quarter. 83.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MRVL. Roth Mkm restated a “buy” rating and issued a $95.00 target price on shares of Marvell Technology in a report on Friday, August 30th. Rosenblatt Securities increased their price objective on Marvell Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Loop Capital initiated coverage on Marvell Technology in a research report on Monday, November 11th. They set a “hold” rating and a $95.00 target price on the stock. TD Cowen raised Marvell Technology to a “strong-buy” rating in a research report on Monday, September 16th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $95.00 price objective on shares of Marvell Technology in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $91.77.

Insider Activity at Marvell Technology

In other news, insider Muhammad Raghib Hussain sold 150,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total transaction of $12,075,000.00. Following the sale, the insider now directly owns 694,487 shares in the company, valued at $55,906,203.50. This represents a 17.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $70.83, for a total transaction of $177,075.00. Following the completion of the transaction, the executive vice president now owns 22,494 shares of the company’s stock, valued at $1,593,250.02. This trade represents a 10.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 259,500 shares of company stock worth $20,230,710. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology Stock Performance

Shares of MRVL opened at $87.83 on Friday. Marvell Technology, Inc. has a 1 year low of $50.35 and a 1 year high of $95.09. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.26. The stock’s fifty day moving average price is $78.89 and its two-hundred day moving average price is $72.69. The firm has a market cap of $77.83 billion, a PE ratio of -79.13, a PEG ratio of 3.91 and a beta of 1.44.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.30. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.18 EPS. On average, equities research analysts forecast that Marvell Technology, Inc. will post 0.78 EPS for the current year.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 11th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.27%. The ex-dividend date of this dividend was Friday, October 11th. Marvell Technology’s dividend payout ratio (DPR) is presently -21.62%.

Marvell Technology Company Profile

Marvell Technology, Inc, together with its subsidiaries, provides data infrastructure semiconductor solutions, spanning the data center core to network edge. The company develops and scales complex System-on-a-Chip architectures, integrating analog, mixed-signal, and digital signal processing functionality.