Marvell Technology, Inc. (NASDAQ:MRVL) Shares Purchased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 1.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,340,202 shares of the semiconductor company's stock after purchasing an additional 75,429 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.85% of Marvell Technology worth $810,725,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in MRVL. Centricity Wealth Management LLC purchased a new stake in Marvell Technology in the 4th quarter valued at $26,000. Rialto Wealth Management LLC purchased a new stake in Marvell Technology in the 4th quarter valued at $27,000. Financial Life Planners purchased a new stake in Marvell Technology in the 4th quarter valued at $33,000. Lee Danner & Bass Inc. purchased a new stake in Marvell Technology in the 4th quarter valued at $35,000. Finally, Capital Analysts LLC grew its holdings 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 in the last quarter. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Marvell Technology Stock Performance

Shares of NASDAQ:MRVL traded down $1.31 during trading on Wednesday, reaching $60.11. The company had a trading volume of 13,992,519 shares, compared to its average volume of 14,133,442. The firm has a market capitalization of $51.92 billion, a price-to-earnings ratio of -35.36, a price-to-earnings-growth ratio of 1.61 and a beta of 1.83. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The stock's fifty day moving average price is $59.90 and its 200 day moving average price is $88.24. Marvell Technology, Inc. has a fifty-two week low of $47.09 and a fifty-two week high of $127.48.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Friday, April 11th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend was Friday, April 11th. Marvell Technology's payout ratio is currently -23.53%.

Insider Activity

In other Marvell Technology news, Director Brad W. Buss purchased 3,000 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were purchased at an average cost of $69.00 per share, for a total transaction of $207,000.00. Following the completion of the purchase, the director now directly owns 87,113 shares in the company, valued at $6,010,797. This represents a 3.57% increase in their ownership of the stock. The acquisition was disclosed in a document filed 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 that occurred on Monday, March 17th. The shares were sold at an average price of $68.83, for a total value of $103,245.00. Following the completion of the sale, the chief financial officer now owns 113,592 shares in the company, valued at approximately $7,818,537.36. This trade represents a 1.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,541 shares of company stock valued at $2,079,948. Company insiders own 0.19% of the company's stock.

Wall Street Analysts Forecast Growth

MRVL has been the subject of a number of recent analyst reports. Stifel Nicolaus cut their price objective on Marvell Technology from $115.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Piper Sandler decreased their price objective on Marvell Technology from $120.00 to $95.00 and set an "overweight" rating for the company in a research note on Thursday, March 6th. Cantor Fitzgerald cut Marvell Technology from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $125.00 to $60.00 in a research note on Wednesday, May 7th. Roth Capital set a $100.00 price objective on Marvell Technology in a research note on Thursday, March 6th. Finally, Citigroup decreased their price objective on Marvell Technology from $122.00 to $96.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Four analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Marvell Technology 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.