ING Groep NV Has $1.12 Million Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

ING Groep NV decreased its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 74.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,145 shares of the semiconductor company's stock after selling 53,017 shares during the period. ING Groep NV's holdings in Marvell Technology were worth $1,117,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MRVL. Hughes Financial Services LLC bought a new position in Marvell Technology during the first quarter worth about $26,000. Rossby Financial LCC bought a new position in Marvell Technology during the first quarter worth about $27,000. Security National Bank bought a new position in Marvell Technology during the first quarter worth about $31,000. Capital Analysts LLC lifted its stake in Marvell Technology by 236.3% during the fourth quarter. Capital Analysts LLC now owns 343 shares of the semiconductor company's stock worth $38,000 after purchasing an additional 241 shares during the period. Finally, Garde Capital Inc. bought a new position in Marvell Technology during the first quarter worth about $39,000. Institutional investors own 83.51% of the company's stock.

Insider Activity at Marvell Technology

In other Marvell Technology news, CAO Panteha Dixon sold 1,286 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $65.00, for a total value of $83,590.00. Following the transaction, the chief accounting officer directly owned 32,094 shares of the company's stock, valued at $2,086,110. This represents a 3.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark Casper sold 3,000 shares of the stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $72.35, for a total transaction of $217,050.00. Following the completion of the transaction, the executive vice president directly owned 17,163 shares in the company, valued at approximately $1,241,743.05. This represents a 14.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,434 shares of company stock valued at $1,097,826 in the last 90 days. Insiders own 0.19% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft cut their price target on shares of Marvell Technology from $100.00 to $85.00 and set a "buy" rating for the company in a research note on Friday, May 30th. Susquehanna cut their price target on shares of Marvell Technology from $110.00 to $90.00 and set a "positive" rating for the company in a research note on Tuesday, May 27th. Citigroup cut their target price on shares of Marvell Technology from $122.00 to $96.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Loop Capital cut their target price on shares of Marvell Technology from $110.00 to $90.00 and set a "buy" rating for the company in a research note on Friday, May 30th. Finally, Needham & Company LLC cut shares of Marvell Technology from a "buy" rating to a "cautious" rating in a research note on Wednesday, July 16th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $94.70.

Marvell Technology Stock Performance

Shares of MRVL stock traded up $0.53 on Thursday, reaching $75.85. The stock had a trading volume of 14,602,382 shares, compared to its average volume of 16,720,357. The company has a quick ratio of 0.94, a current ratio of 1.30 and a debt-to-equity ratio of 0.22. The firm's 50-day moving average is $72.62 and its two-hundred day moving average is $75.11. The firm has a market capitalization of $65.52 billion, a price-to-earnings ratio of -133.07, a P/E/G ratio of 0.82 and a beta of 1.83. Marvell Technology, Inc. has a 12 month low of $47.08 and a 12 month high of $127.48.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last issued its earnings results on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.61 by $0.01. The company had revenue of $1.90 billion for the quarter, compared to analysts' expectations of $1.88 billion. Marvell Technology had a negative net margin of 7.56% and a positive return on equity of 8.42%. Marvell Technology's quarterly revenue was up 63.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.24 EPS. On average, research analysts expect that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Friday, July 11th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Friday, July 11th. Marvell Technology's dividend payout ratio is currently -42.11%.

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.