KBC Group NV Acquires 8,155 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

KBC Group NV boosted its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 7.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 121,865 shares of the semiconductor company’s stock after buying an additional 8,155 shares during the quarter. KBC Group NV’s holdings in Marvell Technology were worth $8,788,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MRVL. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Marvell Technology in the 2nd quarter valued at approximately $32,000. Quarry LP bought a new position in Marvell Technology in the 2nd quarter valued at approximately $32,000. Whittier Trust Co. boosted its position in Marvell Technology by 74.5% in the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 210 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in shares of Marvell Technology by 125.4% during the third quarter. Exchange Traded Concepts LLC now owns 604 shares of the semiconductor company’s stock worth $44,000 after buying an additional 336 shares during the last quarter. Finally, Unique Wealth Strategies LLC acquired a new position in shares of Marvell Technology during the second quarter worth $45,000. Institutional investors own 83.51% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on MRVL shares. Roth Mkm reissued a “buy” rating and set a $95.00 price objective on shares of Marvell Technology in a report on Friday, August 30th. The Goldman Sachs Group boosted their price target on Marvell Technology from $77.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Morgan Stanley raised their price objective on shares of Marvell Technology from $77.00 to $82.00 and gave the company an “equal weight” rating in a report on Friday, August 30th. Piper Sandler reissued an “overweight” rating and set a $100.00 target price on shares of Marvell Technology in a report on Friday, August 30th. Finally, Benchmark raised their price target on shares of Marvell Technology from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $91.77.

Marvell Technology Trading Down 3.2 %

MRVL opened at $87.83 on Friday. The company has a fifty day moving average price of $78.89 and a two-hundred day moving average price of $72.74. Marvell Technology, Inc. has a 1-year low of $50.35 and a 1-year high of $95.09. The company has a market cap of $77.83 billion, a P/E ratio of -79.13, a price-to-earnings-growth ratio of 3.91 and a beta of 1.44. The company has a current ratio of 1.79, a quick ratio of 1.26 and a debt-to-equity ratio of 0.28.

Marvell Technology (NASDAQ:MRVL) last issued its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, meeting analysts’ consensus estimates of $0.30. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates 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 revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.18 EPS. Analysts predict that Marvell Technology, Inc. will post 0.78 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

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

Insider Activity at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $73.87, for a total transaction of $110,805.00. Following the completion of the transaction, the chief financial officer now directly owns 111,753 shares in the company, valued at $8,255,194.11. This trade represents a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ford Tamer sold 92,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $74.16, for a total transaction of $6,822,720.00. Following the sale, the director now directly owns 351,193 shares of the company’s stock, valued at approximately $26,044,472.88. The trade was a 20.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 259,500 shares of company stock valued at $20,230,710. 0.33% of the stock is owned by company insiders.

Marvell Technology 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.