Marvell Technology, Inc. (NASDAQ:MRVL) Position Trimmed by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp decreased its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 1.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 394,921 shares of the semiconductor company’s stock after selling 6,090 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Marvell Technology were worth $43,619,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. True Wealth Design LLC increased its stake in Marvell Technology by 1,481.8% in the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 326 shares during the period. ORG Partners LLC grew its holdings in shares of Marvell Technology by 175.3% during the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 149 shares in the last quarter. Centricity Wealth Management LLC acquired a new position in shares of Marvell Technology in the fourth quarter worth $26,000. Rialto Wealth Management LLC purchased a new stake in shares of Marvell Technology during the fourth quarter worth $27,000. Finally, Kieckhefer Group LLC acquired a new stake in Marvell Technology during the fourth quarter valued at $33,000. 83.51% of the stock is owned by hedge funds and other institutional investors.

Marvell Technology Stock Down 1.5 %

NASDAQ MRVL opened at $71.67 on Wednesday. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $127.48. The stock has a market cap of $62.07 billion, a PE ratio of -42.16, a PEG ratio of 1.61 and a beta of 1.42. The firm has a 50-day simple moving average of $97.34 and a 200 day simple moving average of $93.91. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60.

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be given a $0.06 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.33%. Marvell Technology’s dividend payout ratio is currently -23.53%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MRVL. Oppenheimer raised their price target on Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. William Blair raised shares of Marvell Technology to a “strong-buy” rating in a research report on Wednesday, February 5th. B. Riley boosted their target price on shares of Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Cantor Fitzgerald raised their price target on shares of Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Summit Insights cut shares of Marvell Technology from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Three analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $120.44.

Insider Activity

In other news, EVP Mark Casper sold 7,755 shares of Marvell Technology stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $123.08, for a total transaction of $954,485.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $118.33, for a total transaction of $177,495.00. Following the completion of the sale, the chief financial officer now directly owns 111,211 shares in the company, valued at approximately $13,159,597.63. The trade was a 1.33 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,685 shares of company stock worth $4,026,768. Company insiders own 0.33% of the company’s stock.

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.