Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA trimmed its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 24.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,287,586 shares of the semiconductor company’s stock after selling 2,383,082 shares during the period. Marvell Technology makes up about 0.9% of Pictet Asset Management Holding SA’s portfolio, making the stock its 20th largest holding. Pictet Asset Management Holding SA owned 0.84% of Marvell Technology worth $804,914,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. True Wealth Design LLC boosted its stake in shares of Marvell Technology by 1,481.8% during 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 stake in shares of Marvell Technology by 175.3% in the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 149 shares during the last quarter. Centricity Wealth Management LLC acquired a new stake in Marvell Technology in the 4th quarter worth $26,000. Rialto Wealth Management LLC bought a new position in Marvell Technology during the fourth quarter valued at about $27,000. Finally, Kieckhefer Group LLC acquired a new position in shares of Marvell Technology in the fourth quarter valued at $33,000. Institutional investors own 83.51% of the company’s stock.

Insider Activity at Marvell Technology

In other news, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total transaction of $282,500.00. Following the completion of the transaction, the executive vice president now owns 24,706 shares in the company, valued at $2,791,778. This trade represents a 9.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total value of $746,400.00. Following the completion of the sale, the executive vice president now owns 93,931 shares of the company’s stock, valued at approximately $11,685,016.40. This represents a 6.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,685 shares of company stock valued at $4,026,768 in the last 90 days. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology Trading Down 2.8 %

NASDAQ:MRVL opened at $64.86 on Friday. The company has a market cap of $56.17 billion, a P/E ratio of -38.15, a P/E/G ratio of 1.61 and a beta of 1.42. Marvell Technology, Inc. has a 1 year low of $53.19 and a 1 year high of $127.48. The stock’s fifty day moving average price is $95.30 and its two-hundred day moving average price is $93.52. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date of this dividend is Friday, April 11th. Marvell Technology’s dividend payout ratio is presently -23.53%.

Analysts Set New Price Targets

A number of research analysts have commented on MRVL shares. William Blair upgraded shares of Marvell Technology to a “strong-buy” rating in a research note on Wednesday, February 5th. Cantor Fitzgerald raised their price objective on shares of Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. The Goldman Sachs Group boosted their target price on Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Loop Capital raised Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 price objective on the stock in a research note on Thursday, March 6th. Finally, UBS Group lifted their price target on shares of Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Three analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $120.44.

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.