Marvell Technology, Inc. (NASDAQ:MRVL) Shares Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 1.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,340,202 shares of the semiconductor company’s stock after purchasing an additional 75,429 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.85% of Marvell Technology worth $810,725,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in MRVL. Intrepid Financial Planning Group LLC lifted its position in Marvell Technology by 0.3% in the 4th quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company’s stock valued at $2,860,000 after purchasing an additional 90 shares during the last quarter. PDS Planning Inc raised its holdings in shares of Marvell Technology by 3.3% during the fourth quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company’s stock valued at $319,000 after buying an additional 92 shares during the last quarter. Lodestone Wealth Management LLC boosted its position in shares of Marvell Technology by 2.0% during the fourth quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company’s stock worth $514,000 after buying an additional 93 shares during the period. Valley National Advisers Inc. grew its holdings in Marvell Technology by 0.4% in the 4th quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company’s stock worth $2,775,000 after buying an additional 96 shares in the last quarter. Finally, Private Trust Co. NA boosted its position in Marvell Technology by 2.7% during the 4th quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company’s stock worth $414,000 after acquiring an additional 97 shares during the period. 83.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MRVL has been the subject of a number of recent analyst reports. Citigroup decreased 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 report on Friday, April 11th. Benchmark lowered their price target on Marvell Technology from $135.00 to $95.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. TD Cowen lowered their target price on Marvell Technology from $125.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Summit Insights cut shares of Marvell Technology from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Finally, Raymond James set a $110.00 target price on shares of Marvell Technology in a report on Thursday, March 6th. Four research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $110.69.

Insider Activity at Marvell Technology

In other Marvell Technology news, CAO Panteha Dixon sold 1,239 shares of the firm’s stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $65.01, for a total transaction of $80,547.39. Following the completion of the transaction, the chief accounting officer now owns 30,855 shares in the company, valued at $2,005,883.55. This trade represents a 3.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark Casper sold 626 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $61.10, for a total value of $38,248.60. Following the completion of the transaction, the executive vice president now directly owns 626 shares of the company’s stock, valued at approximately $38,248.60. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,541 shares of company stock worth $2,079,948. Company insiders own 0.19% of the company’s stock.

Marvell Technology Price Performance

NASDAQ MRVL opened at $62.56 on Tuesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The stock has a 50-day simple moving average of $60.22 and a 200 day simple moving average of $88.63. The stock has a market capitalization of $54.04 billion, a PE ratio of -36.80, a P/E/G ratio of 1.61 and a beta of 1.83. Marvell Technology, Inc. has a twelve month low of $47.09 and a twelve month high of $127.48.

Marvell Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Friday, April 11th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend was Friday, April 11th. Marvell Technology’s dividend payout ratio (DPR) is presently -23.53%.

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.