ING Groep NV Sells 23,442 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

ING Groep NV cut its stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 6.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 362,892 shares of the semiconductor company's stock after selling 23,442 shares during the period. ING Groep NV's holdings in Marvell Technology were worth $21,886,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Buck Wealth Strategies LLC boosted its stake in Marvell Technology by 1,328.1% in the 3rd quarter. Buck Wealth Strategies LLC now owns 457 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 425 shares in the last quarter. SJS Investment Consulting Inc. boosted its stake in Marvell Technology by 56.8% in the 4th quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company's stock worth $26,000 after purchasing an additional 155 shares in the last quarter. Oliver Lagore Vanvalin Investment Group boosted its stake in Marvell Technology by 46.2% in the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 522 shares of the semiconductor company's stock worth $31,000 after purchasing an additional 165 shares in the last quarter. Raleigh Capital Management Inc. boosted its stake in Marvell Technology by 532.3% in the 3rd quarter. Raleigh Capital Management Inc. now owns 626 shares of the semiconductor company's stock worth $34,000 after purchasing an additional 527 shares in the last quarter. Finally, Versant Capital Management Inc boosted its stake in Marvell Technology by 34.7% in the 4th quarter. Versant Capital Management Inc now owns 625 shares of the semiconductor company's stock worth $38,000 after purchasing an additional 161 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Marvell Technology Trading Down 1.6 %

Shares of MRVL stock traded down $1.16 on Friday, hitting $71.92. 7,874,825 shares of the stock traded hands, compared to its average volume of 10,336,771. The firm's 50-day moving average price is $68.66 and its two-hundred day moving average price is $64.59. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.21 and a current ratio of 1.69. The stock has a market capitalization of $62.24 billion, a PE ratio of -66.59, a PEG ratio of 5.26 and a beta of 1.48. Marvell Technology, Inc. has a twelve month low of $43.51 and a twelve month high of $85.76.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last issued its quarterly earnings data on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.46. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.42 billion. Marvell Technology had a negative net margin of 16.95% and a positive return on equity of 4.96%. Marvell Technology's revenue was up .6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.34 EPS. As a group, analysts anticipate that Marvell Technology, Inc. will post 0.73 EPS for the current year.

Marvell Technology announced that its board has authorized a share buyback program on Thursday, March 7th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to purchase up to 4.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its shares are undervalued.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Friday, April 12th were issued a $0.06 dividend. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $0.24 annualized dividend and a yield of 0.33%. Marvell Technology's dividend payout ratio (DPR) is currently -22.22%.

Insiders Place Their Bets

In other Marvell Technology news, EVP Chris Koopmans sold 5,000 shares of the business's stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $66.44, for a total transaction of $332,200.00. Following the sale, the executive vice president now directly owns 114,117 shares in the company, valued at $7,581,933.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Matthew J. Murphy sold 30,000 shares of the company's stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $69.18, for a total transaction of $2,075,400.00. Following the sale, the chief executive officer now directly owns 686,545 shares in the company, valued at $47,495,183.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Chris Koopmans sold 5,000 shares of the company's stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $66.44, for a total transaction of $332,200.00. Following the sale, the executive vice president now owns 114,117 shares in the company, valued at $7,581,933.48. The disclosure for this sale can be found here. Insiders have sold 110,500 shares of company stock worth $7,522,055 over the last three months. Company insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

MRVL has been the subject of a number of recent research reports. Raymond James raised their price target on shares of Marvell Technology from $62.00 to $78.00 and gave the stock an "outperform" rating in a research report on Friday, January 19th. Stifel Nicolaus reissued a "buy" rating and set a $86.00 price target on shares of Marvell Technology in a research report on Friday, April 12th. Jefferies Financial Group initiated coverage on shares of Marvell Technology in a research report on Monday, May 13th. They set a "buy" rating and a $85.00 price target for the company. KeyCorp reduced their price target on shares of Marvell Technology from $95.00 to $90.00 and set an "overweight" rating for the company in a research report on Monday, April 8th. Finally, UBS Group lifted their target price on shares of Marvell Technology from $70.00 to $83.00 and gave the company a "buy" rating in a report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twenty-one have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $81.28.

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.

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