Marvell Technology, Inc. (NASDAQ:MRVL) Shares Bought by Bank Julius Baer & Co. Ltd Zurich

Bank Julius Baer & Co. Ltd Zurich increased its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 116.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,313 shares of the semiconductor company’s stock after purchasing an additional 30,800 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Marvell Technology were worth $3,457,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of MRVL. Caprock Group LLC raised its position in shares of Marvell Technology by 7.5% during the 3rd quarter. Caprock Group LLC now owns 4,755 shares of the semiconductor company’s stock worth $257,000 after purchasing an additional 330 shares during the last quarter. Handelsbanken Fonder AB raised its holdings in Marvell Technology by 2.7% in the 3rd quarter. Handelsbanken Fonder AB now owns 273,760 shares of the semiconductor company’s stock valued at $14,819,000 after acquiring an additional 7,193 shares during the last quarter. Simplicity Solutions LLC raised its holdings in Marvell Technology by 2.6% in the 3rd quarter. Simplicity Solutions LLC now owns 11,635 shares of the semiconductor company’s stock valued at $630,000 after acquiring an additional 290 shares during the last quarter. Ballentine Partners LLC raised its holdings in Marvell Technology by 6.8% in the 3rd quarter. Ballentine Partners LLC now owns 4,983 shares of the semiconductor company’s stock valued at $270,000 after acquiring an additional 319 shares during the last quarter. Finally, KG&L Capital Management LLC acquired a new position in Marvell Technology in the 3rd quarter valued at $234,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on MRVL shares. Rosenblatt Securities reiterated a “buy” rating and issued a $100.00 price target on shares of Marvell Technology in a report on Monday, March 4th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $85.00 price target on shares of Marvell Technology in a report on Friday, April 12th. Evercore ISI assumed coverage on Marvell Technology in a report on Tuesday, April 16th. They issued an “outperform” rating and a $88.00 price target for the company. Morgan Stanley boosted their price objective on shares of Marvell Technology from $63.00 to $84.00 and gave the company an “equal weight” rating in a research note on Thursday, March 7th. Finally, UBS Group boosted their price objective on shares of Marvell Technology from $70.00 to $83.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Two investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, Marvell Technology currently has an average rating of “Moderate Buy” and an average target price of $81.13.

Insider Activity

In other news, CFO Willem A. Meintjes sold 1,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $68.20, for a total value of $68,200.00. Following the sale, the chief financial officer now owns 103,986 shares in the company, valued at approximately $7,091,845.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Willem A. Meintjes sold 1,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $68.20, for a total value of $68,200.00. Following the sale, the chief financial officer now owns 103,986 shares in the company, valued at approximately $7,091,845.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Matthew J. Murphy sold 30,000 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $67.67, for a total transaction of $2,030,100.00. Following the sale, the chief executive officer now owns 762,929 shares in the company, valued at approximately $51,627,405.43. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 110,500 shares of company stock worth $7,477,515. 0.45% of the stock is currently owned by corporate insiders.

Marvell Technology Stock Performance

NASDAQ:MRVL opened at $69.62 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.69 and a quick ratio of 1.21. The firm has a 50-day moving average of $69.80 and a two-hundred day moving average of $62.51. The stock has a market cap of $60.29 billion, a P/E ratio of -64.46, a PEG ratio of 4.94 and a beta of 1.50. Marvell Technology, Inc. has a 1-year low of $37.71 and a 1-year high of $85.76.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly earnings data on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.46. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Marvell Technology had a negative net margin of 16.95% and a positive return on equity of 4.96%. The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the prior year, the company posted $0.34 EPS. On average, research analysts expect that Marvell Technology, Inc. will post 0.72 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 12th will be paid a $0.06 dividend. The ex-dividend date is Thursday, April 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.34%. Marvell Technology’s dividend payout ratio (DPR) is presently -22.22%.

Marvell Technology announced that its board has authorized a stock repurchase program on Thursday, March 7th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to buy up to 4.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

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.