ING Groep NV Buys 111,177 Shares of Marvell Technology, Inc. $MRVL

ING Groep NV lifted its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 281.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 150,688 shares of the semiconductor company’s stock after purchasing an additional 111,177 shares during the quarter. ING Groep NV’s holdings in Marvell Technology were worth $12,668,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Marvell Technology by 1.1% in the second quarter. Vanguard Group Inc. now owns 64,443,232 shares of the semiconductor company’s stock worth $4,987,906,000 after acquiring an additional 673,110 shares in the last quarter. Brown Advisory Inc. lifted its holdings in shares of Marvell Technology by 8.0% in the 2nd quarter. Brown Advisory Inc. now owns 20,840,336 shares of the semiconductor company’s stock worth $1,613,044,000 after purchasing an additional 1,539,809 shares in the last quarter. State Street Corp lifted its holdings in shares of Marvell Technology by 2.7% in the 2nd quarter. State Street Corp now owns 20,573,260 shares of the semiconductor company’s stock worth $1,592,370,000 after purchasing an additional 533,946 shares in the last quarter. Ameriprise Financial Inc. grew its position in Marvell Technology by 16.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 10,406,875 shares of the semiconductor company’s stock valued at $805,473,000 after purchasing an additional 1,464,571 shares during the period. Finally, Norges Bank bought a new stake in Marvell Technology during the 2nd quarter valued at $716,713,000. 83.51% of the stock is owned by institutional investors.

Insider Buying and Selling at Marvell Technology

In related news, EVP Mark Casper sold 5,000 shares of the stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $93.08, for a total transaction of $465,400.00. Following the completion of the transaction, the executive vice president owned 19,418 shares in the company, valued at approximately $1,807,427.44. This represents a 20.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Craig Hallum reaffirmed a “buy” rating and issued a $141.00 price objective on shares of Marvell Technology in a research note on Wednesday, December 3rd. Oppenheimer restated an “outperform” rating and issued a $150.00 target price (up previously from $115.00) on shares of Marvell Technology in a report on Wednesday, December 3rd. Summit Redstone set a $105.00 price target on Marvell Technology in a research note on Wednesday, October 15th. Wells Fargo & Company boosted their price objective on Marvell Technology from $90.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, December 3rd. Finally, JPMorgan Chase & Co. raised their target price on Marvell Technology from $120.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, December 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $115.16.

Marvell Technology Price Performance

Marvell Technology stock opened at $81.34 on Thursday. Marvell Technology, Inc. has a 52 week low of $47.08 and a 52 week high of $112.50. The company’s 50 day moving average price is $84.15 and its two-hundred day moving average price is $81.74. The stock has a market cap of $68.92 billion, a P/E ratio of 28.54, a P/E/G ratio of 0.62 and a beta of 1.97. The company has a quick ratio of 1.64, a current ratio of 2.01 and a debt-to-equity ratio of 0.28.

Marvell Technology (NASDAQ:MRVL) last released its earnings results on Tuesday, December 2nd. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.02. The company had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.06 billion. Marvell Technology had a return on equity of 13.15% and a net margin of 31.75%.Marvell Technology’s quarterly revenue was up 36.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.43 earnings per share. Marvell Technology has set its Q4 2026 guidance at 0.740-0.840 EPS. On average, equities analysts predict that Marvell Technology, Inc. will post 0.91 earnings per share for the current year.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 29th. Stockholders of record on Friday, January 9th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Friday, January 9th. Marvell Technology’s payout ratio is presently 8.42%.

Marvell Technology Company Profile

Marvell Technology Group is a global semiconductor company that designs and develops integrated circuits and related software for data infrastructure, networking, storage and connectivity markets. The company’s product portfolio includes system-on-chip (SoC) solutions, Ethernet physical-layer transceivers (PHYs), switch and switch silicon, optical interconnect components, storage controllers, and security processors. Marvell’s technology is used to enable high-performance data centers, carrier networks, enterprise and cloud storage, as well as connectivity in automotive and industrial applications.

Founded in 1995 and headquartered in Santa Clara, California, Marvell has grown through both organic development and strategic acquisitions to broaden its capabilities across networking and data interconnect.