KBC Group NV Buys 104,554 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

KBC Group NV raised its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 85.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 226,419 shares of the semiconductor company’s stock after purchasing an additional 104,554 shares during the period. KBC Group NV’s holdings in Marvell Technology were worth $25,008,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of MRVL. Union Bancaire Privee UBP SA bought a new position in shares of Marvell Technology during the 4th quarter worth $16,699,000. Blue Trust Inc. lifted its holdings in Marvell Technology by 29.2% during the fourth quarter. Blue Trust Inc. now owns 9,176 shares of the semiconductor company’s stock valued at $1,013,000 after purchasing an additional 2,074 shares during the last quarter. PFG Investments LLC boosted its position in Marvell Technology by 43.8% during the fourth quarter. PFG Investments LLC now owns 4,373 shares of the semiconductor company’s stock worth $483,000 after purchasing an additional 1,332 shares during the period. Drive Wealth Management LLC purchased a new position in shares of Marvell Technology in the fourth quarter worth about $260,000. Finally, Patton Albertson Miller Group LLC raised its position in shares of Marvell Technology by 1.6% in the fourth quarter. Patton Albertson Miller Group LLC now owns 7,500 shares of the semiconductor company’s stock valued at $828,000 after purchasing an additional 120 shares during the period. 83.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Michael G. Strachan sold 5,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $122.65, for a total transaction of $613,250.00. Following the completion of the sale, the director now owns 30,959 shares of the company’s stock, valued at approximately $3,797,121.35. This represents a 13.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction on Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $133,710.00. Following the completion of the transaction, the chief financial officer now directly owns 114,211 shares in the company, valued at approximately $10,180,768.54. The trade was a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,755 shares of company stock valued at $4,361,430. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on MRVL. Benchmark reaffirmed a “buy” rating and issued a $135.00 price objective (up from $115.00) on shares of Marvell Technology in a report on Wednesday, December 4th. Oppenheimer lifted their price target on Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. boosted their price objective on Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Barclays raised their target price on Marvell Technology from $115.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Finally, KeyCorp upped their price target on Marvell Technology from $125.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Three investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Marvell Technology has an average rating of “Moderate Buy” and a consensus price target of $127.60.

Marvell Technology Stock Performance

Shares of NASDAQ MRVL opened at $103.88 on Wednesday. The stock has a market cap of $89.89 billion, a price-to-earnings ratio of -61.11, a P/E/G ratio of 4.12 and a beta of 1.41. The stock’s 50-day moving average is $110.63 and its 200 day moving average is $86.85. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $127.48.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.23%. Marvell Technology’s payout ratio is -14.12%.

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.