ING Groep NV Has $7.86 Million Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

ING Groep NV grew its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 17.7% in the 4th quarter, Holdings Channel reports. The fund owned 71,162 shares of the semiconductor company’s stock after purchasing an additional 10,689 shares during the quarter. ING Groep NV’s holdings in Marvell Technology were worth $7,860,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Lodestone Wealth Management LLC grew its holdings in shares of Marvell Technology by 2.0% during the fourth quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company’s stock worth $514,000 after buying an additional 93 shares in the last quarter. Valley National Advisers Inc. grew its holdings in shares of Marvell Technology by 0.4% during the fourth quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company’s stock worth $2,775,000 after buying an additional 96 shares in the last quarter. Waldron Private Wealth LLC boosted its position in Marvell Technology by 3.6% during the fourth quarter. Waldron Private Wealth LLC now owns 2,964 shares of the semiconductor company’s stock valued at $327,000 after purchasing an additional 103 shares during the last quarter. Tsfg LLC boosted its position in Marvell Technology by 7.5% during the fourth quarter. Tsfg LLC now owns 1,593 shares of the semiconductor company’s stock valued at $176,000 after purchasing an additional 111 shares during the last quarter. Finally, GHP Investment Advisors Inc. boosted its position in Marvell Technology by 48.3% during the fourth quarter. GHP Investment Advisors Inc. now owns 344 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 112 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Marvell Technology news, EVP Mark Casper sold 7,755 shares of the firm’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $123.08, for a total transaction of $954,485.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction on 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 in the company, valued at approximately $11,912,390. This trade represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,255 shares of company stock worth $4,330,980 in the last 90 days. Company insiders own 0.33% of the company’s stock.

Marvell Technology Stock Performance

NASDAQ:MRVL opened at $103.85 on Friday. The stock has a market cap of $89.86 billion, a P/E ratio of -61.09, a PEG ratio of 1.64 and a beta of 1.40. The stock has a 50 day simple moving average of $113.59 and a 200 day simple moving average of $92.01. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $127.48.

Marvell Technology Announces Dividend

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

Wall Street Analysts Forecast Growth

MRVL has been the subject of several recent research reports. Piper Sandler reissued an “overweight” rating and set a $120.00 price target (up from $100.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Melius Research raised Marvell Technology to a “strong-buy” rating in a research report on Monday, January 27th. Benchmark reissued a “buy” rating and set a $135.00 price target (up from $115.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. William Blair raised Marvell Technology to a “strong-buy” rating in a research report on Wednesday, February 5th. Finally, Needham & Company LLC increased their price target on Marvell Technology from $95.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $127.60.

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.