ING Groep NV Acquires 10,689 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

ING Groep NV boosted its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 17.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 71,162 shares of the semiconductor company’s stock after buying an additional 10,689 shares during the period. ING Groep NV’s holdings in Marvell Technology were worth $7,860,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. True Wealth Design LLC increased its position in Marvell Technology by 1,481.8% in the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after buying an additional 326 shares during the period. ORG Partners LLC increased its position in shares of Marvell Technology by 175.3% during the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 149 shares during the period. Kieckhefer Group LLC bought a new stake in shares of Marvell Technology during the fourth quarter valued at approximately $33,000. Financial Life Planners bought a new stake in shares of Marvell Technology during the fourth quarter valued at approximately $33,000. Finally, Whittier Trust Co. increased its position in shares of Marvell Technology by 74.5% during the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 210 shares during the period. 83.51% of the stock is owned by institutional investors.

Insider Activity

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $735,000.00. Following the transaction, the executive vice president now owns 97,244 shares of the company’s stock, valued at approximately $11,912,390. This represents a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $183,750.00. Following the completion of the transaction, the chief financial officer now directly owns 112,711 shares in the company, valued at $13,807,097.50. The trade was a 1.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,255 shares of company stock valued at $4,330,980 over the last 90 days. 0.33% of the stock is owned by company insiders.

Marvell Technology Trading Down 4.5 %

Shares of MRVL opened at $103.85 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a 12-month low of $53.19 and a 12-month high of $127.48. The firm has a market capitalization of $89.86 billion, a PE ratio of -61.09, a price-to-earnings-growth ratio of 1.64 and a beta of 1.40. The stock’s fifty day simple moving average is $113.59 and its 200-day simple moving average is $92.01.

Marvell Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.23%. The ex-dividend date was Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on MRVL shares. Susquehanna boosted their price objective on Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a research report on Wednesday, December 4th. Evercore ISI boosted their price objective on Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. TD Cowen boosted their price objective on Marvell Technology from $90.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a research report on Thursday, January 9th. Finally, William Blair upgraded Marvell Technology to a “strong-buy” rating in a research report on Wednesday, February 5th. Three analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $127.60.

About Marvell Technology

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.