KBC Group NV Increases Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

KBC Group NV boosted its holdings in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 7.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 121,865 shares of the semiconductor company's stock after acquiring an additional 8,155 shares during the period. KBC Group NV's holdings in Marvell Technology were worth $8,788,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Bouvel Investment Partners LLC lifted its holdings in Marvell Technology by 0.5% during the 3rd quarter. Bouvel Investment Partners LLC now owns 69,939 shares of the semiconductor company's stock worth $5,044,000 after purchasing an additional 374 shares during the last quarter. Plato Investment Management Ltd lifted its holdings in shares of Marvell Technology by 2.5% during the third quarter. Plato Investment Management Ltd now owns 16,479 shares of the semiconductor company's stock worth $1,187,000 after buying an additional 403 shares in the last quarter. ICICI Prudential Asset Management Co Ltd boosted its position in shares of Marvell Technology by 18.9% in the third quarter. ICICI Prudential Asset Management Co Ltd now owns 11,307 shares of the semiconductor company's stock valued at $815,000 after acquiring an additional 1,799 shares during the period. Pinnacle Financial Partners Inc grew its stake in shares of Marvell Technology by 3.4% in the third quarter. Pinnacle Financial Partners Inc now owns 133,387 shares of the semiconductor company's stock valued at $9,620,000 after acquiring an additional 4,364 shares in the last quarter. Finally, Hartline Investment Corp increased its position in Marvell Technology by 2.5% during the third quarter. Hartline Investment Corp now owns 385,412 shares of the semiconductor company's stock worth $27,796,000 after acquiring an additional 9,275 shares during the period. Institutional investors and hedge funds own 83.51% of the company's stock.

Insider Buying and Selling

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the company's stock in a transaction on Monday, October 21st. The stock was sold at an average price of $80.77, for a total value of $484,620.00. Following the transaction, the executive vice president now owns 109,244 shares of the company's stock, valued at $8,823,637.88. This represents a 5.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm's stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total transaction of $120,750.00. Following the transaction, the chief financial officer now directly owns 110,253 shares in the company, valued at approximately $8,875,366.50. This trade represents a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 259,500 shares of company stock worth $20,230,710. Corporate insiders own 0.33% of the company's stock.

Marvell Technology Stock Performance

MRVL stock traded down $2.87 during midday trading on Friday, reaching $87.83. 10,001,282 shares of the company's stock traded hands, compared to its average volume of 9,496,007. The stock's 50-day moving average is $78.89 and its 200 day moving average is $72.80. The stock has a market cap of $77.83 billion, a P/E ratio of -79.13, a PEG ratio of 3.82 and a beta of 1.44. Marvell Technology, Inc. has a 52-week low of $50.35 and a 52-week high of $95.09. 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 - Get Free Report) last released its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the previous year, the company posted $0.18 earnings per share. Marvell Technology's revenue for the quarter was down 5.1% on a year-over-year basis. As a group, analysts anticipate that Marvell Technology, Inc. will post 0.78 EPS for the current year.

Marvell Technology Dividend Announcement

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

Analysts Set New Price Targets

MRVL has been the topic of a number of analyst reports. StockNews.com downgraded Marvell Technology from a "hold" rating to a "sell" rating in a research report on Friday, October 18th. Cantor Fitzgerald reissued an "overweight" rating and set a $85.00 target price on shares of Marvell Technology in a report on Friday, August 30th. Needham & Company LLC reaffirmed a "buy" rating and issued a $95.00 price target on shares of Marvell Technology in a research note on Friday, August 30th. Roth Mkm reissued a "buy" rating and issued a $95.00 target price on shares of Marvell Technology in a report on Friday, August 30th. Finally, Loop Capital initiated coverage on shares of Marvell Technology in a research report on Monday, November 11th. They issued a "hold" rating and a $95.00 target price for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $91.77.

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.