KBC Group NV Has $8.79 Million Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

KBC Group NV increased its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 7.2% in the third quarter, according to the company in its most recent disclosure with the SEC. 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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Marvell Technology in the second quarter valued at approximately $32,000. Quarry LP bought a new position in Marvell Technology in the second quarter valued at $32,000. Whittier Trust Co. increased its stake in Marvell Technology by 74.5% in the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 210 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in Marvell Technology by 125.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 604 shares of the semiconductor company’s stock worth $44,000 after buying an additional 336 shares in the last quarter. Finally, Unique Wealth Strategies LLC acquired a new position in shares of Marvell Technology during the 2nd quarter worth about $45,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Analysts Set New Price Targets

MRVL has been the topic of several analyst reports. TD Cowen upgraded Marvell Technology to a “strong-buy” rating in a report on Monday, September 16th. Rosenblatt Securities increased their price objective on Marvell Technology from $100.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 30th. Piper Sandler restated an “overweight” rating and set a $100.00 target price on shares of Marvell Technology in a report on Friday, August 30th. Needham & Company LLC reiterated a “buy” rating and issued a $95.00 price target on shares of Marvell Technology in a research note on Friday, August 30th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $85.00 price objective on shares of Marvell Technology in a research note on Friday, August 30th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.77.

Marvell Technology Stock Performance

Shares of NASDAQ MRVL opened at $87.83 on Friday. Marvell Technology, Inc. has a one year low of $50.35 and a one 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 firm has a market cap of $77.83 billion, a price-to-earnings ratio of -79.13, a P/E/G ratio of 3.91 and a beta of 1.44. The stock’s fifty day moving average price is $78.89 and its two-hundred day moving average price is $72.74.

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

Marvell Technology Announces Dividend

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

Insider Buying and Selling

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total transaction of $120,750.00. Following the sale, the chief financial officer now directly owns 110,253 shares in the company, valued at $8,875,366.50. This represents a 1.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $80.77, for a total transaction of $484,620.00. Following the completion of the transaction, the executive vice president now owns 109,244 shares of the company’s stock, valued at $8,823,637.88. The trade was a 5.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 259,500 shares of company stock valued at $20,230,710 over the last 90 days. 0.33% of the stock is owned by corporate insiders.

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.