China Universal Asset Management Co. Ltd. Decreases Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

China Universal Asset Management Co. Ltd. lessened its stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 25.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 21,372 shares of the semiconductor company's stock after selling 7,225 shares during the period. China Universal Asset Management Co. Ltd.'s holdings in Marvell Technology were worth $1,316,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC acquired a new stake in Marvell Technology in the 4th quarter valued at approximately $27,000. Rossby Financial LCC purchased a new position in Marvell Technology in the 1st quarter valued at approximately $27,000. Security National Bank purchased a new position in Marvell Technology in the 1st quarter valued at approximately $31,000. Lee Danner & Bass Inc. purchased a new position in Marvell Technology in the 4th quarter valued at approximately $35,000. Finally, Capital Analysts LLC boosted its position in Marvell Technology by 236.3% in the 4th quarter. Capital Analysts LLC now owns 343 shares of the semiconductor company's stock valued at $38,000 after buying an additional 241 shares during the period. Institutional investors and hedge funds own 83.51% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on MRVL shares. Loop Capital decreased their price target on shares of Marvell Technology from $110.00 to $90.00 and set a "buy" rating for the company in a research report on Friday, May 30th. Morgan Stanley raised their price target on shares of Marvell Technology from $70.00 to $73.00 and gave the company an "equal weight" rating in a research report on Friday, May 30th. Stifel Nicolaus decreased their price target on shares of Marvell Technology from $115.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Rosenblatt Securities reissued a "buy" rating and issued a $124.00 price target on shares of Marvell Technology in a research report on Wednesday, June 18th. Finally, China Renaissance assumed coverage on shares of Marvell Technology in a research report on Thursday, June 5th. They issued a "buy" rating and a $110.00 price target for the company. Six research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $96.33.

Insider Activity

In other news, COO Chris Koopmans sold 6,000 shares of the business's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $65.10, for a total transaction of $390,600.00. Following the transaction, the chief operating officer directly owned 92,065 shares in the company, valued at $5,993,431.50. The trade was a 6.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Mark Casper sold 12,460 shares of the business's stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $55.00, for a total transaction of $685,300.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,394 shares of company stock valued at $1,656,076. 0.33% of the stock is owned by insiders.

Marvell Technology Stock Performance

NASDAQ MRVL traded down $0.39 during trading on Wednesday, reaching $71.56. The company's stock had a trading volume of 6,282,340 shares, compared to its average volume of 15,694,229. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.94 and a current ratio of 1.30. The firm has a market cap of $61.81 billion, a price-to-earnings ratio of -125.43, a P/E/G ratio of 0.78 and a beta of 1.81. Marvell Technology, Inc. has a twelve month low of $47.09 and a twelve month high of $127.48. The business's fifty day moving average price is $67.07 and its 200-day moving average price is $81.18.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last issued its quarterly earnings results on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.61 by $0.01. Marvell Technology had a negative net margin of 7.56% and a positive return on equity of 8.42%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same period in the previous year, the business posted $0.24 earnings per share. The business's revenue was up 63.3% compared to the same quarter last year. As a group, analysts anticipate that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, July 11th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, July 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 -42.11%.

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.