USS Investment Management Ltd Decreases Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

USS Investment Management Ltd lowered its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 12.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 150,023 shares of the semiconductor company’s stock after selling 22,164 shares during the quarter. USS Investment Management Ltd’s holdings in Marvell Technology were worth $16,571,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Merit Financial Group LLC boosted its position in Marvell Technology by 57.5% in the fourth quarter. Merit Financial Group LLC now owns 9,432 shares of the semiconductor company’s stock worth $1,042,000 after purchasing an additional 3,443 shares during the last quarter. HB Wealth Management LLC increased its position in shares of Marvell Technology by 3.2% during the 4th quarter. HB Wealth Management LLC now owns 15,497 shares of the semiconductor company’s stock valued at $1,712,000 after purchasing an additional 475 shares during the last quarter. Ameritas Advisory Services LLC raised its stake in shares of Marvell Technology by 246.2% during the 4th quarter. Ameritas Advisory Services LLC now owns 11,431 shares of the semiconductor company’s stock worth $1,263,000 after purchasing an additional 8,129 shares during the period. Aaron Wealth Advisors LLC purchased a new position in shares of Marvell Technology in the 4th quarter worth about $322,000. Finally, Diversify Advisory Services LLC boosted its holdings in shares of Marvell Technology by 16.8% in the 4th quarter. Diversify Advisory Services LLC now owns 3,743 shares of the semiconductor company’s stock worth $428,000 after buying an additional 538 shares during the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Marvell Technology Stock Performance

Marvell Technology stock opened at $61.42 on Wednesday. Marvell Technology, Inc. has a 1-year low of $47.09 and a 1-year high of $127.48. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $53.06 billion, a PE ratio of -36.13, a price-to-earnings-growth ratio of 1.61 and a beta of 1.83. The firm’s 50 day simple moving average is $60.07 and its 200 day simple moving average is $88.44.

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Friday, April 11th were issued a $0.06 dividend. The ex-dividend date of this dividend was Friday, April 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.39%. Marvell Technology’s payout ratio is currently -23.53%.

Insider Buying and Selling

In other Marvell Technology news, EVP Mark Casper sold 626 shares of the company’s stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $61.10, for a total value of $38,248.60. Following the transaction, the executive vice president now directly owns 626 shares in the company, valued at $38,248.60. This represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $68.83, for a total value of $103,245.00. Following the sale, the chief financial officer now owns 113,592 shares of the company’s stock, valued at approximately $7,818,537.36. This trade represents a 1.30% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,541 shares of company stock worth $2,079,948. Corporate insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. William Blair upgraded shares of Marvell Technology to a “strong-buy” rating in a report on Wednesday, February 5th. TD Cowen reduced their target price on shares of Marvell Technology from $125.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Roth Capital set a $100.00 price target on shares of Marvell Technology in a research note on Thursday, March 6th. Summit Insights downgraded Marvell Technology from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Finally, Morgan Stanley reduced their price objective on Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating for the company in a report on Thursday, March 6th. Four analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Marvell Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.69.

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.