Union Bancaire Privee UBP SA Cuts Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Union Bancaire Privee UBP SA trimmed its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 45.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 83,757 shares of the semiconductor company's stock after selling 71,050 shares during the quarter. Union Bancaire Privee UBP SA's holdings in Marvell Technology were worth $5,057,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MRVL. Centricity Wealth Management LLC purchased a new position in shares of Marvell Technology in the 4th quarter worth about $26,000. Rialto Wealth Management LLC purchased a new position in shares of Marvell Technology in the 4th quarter worth about $27,000. Lee Danner & Bass Inc. purchased a new position in shares of Marvell Technology in the 4th quarter worth about $35,000. Capital Analysts LLC boosted its holdings in shares of Marvell Technology by 236.3% in the 4th quarter. Capital Analysts LLC now owns 343 shares of the semiconductor company's stock worth $38,000 after purchasing an additional 241 shares in the last quarter. Finally, Sierra Ocean LLC purchased a new position in shares of Marvell Technology in the 4th quarter worth about $44,000. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Marvell Technology Stock Down 3.5%

Shares of NASDAQ:MRVL traded down $2.45 during trading on Friday, hitting $67.19. The stock had a trading volume of 14,146,733 shares, compared to its average volume of 14,730,268. Marvell Technology, Inc. has a 12 month low of $47.09 and a 12 month high of $127.48. The company has a market capitalization of $58.04 billion, a PE ratio of -39.52, a PEG ratio of 1.61 and a beta of 1.76. The firm's fifty day moving average is $60.30 and its 200 day moving average is $85.20. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last announced its earnings results on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.01. Marvell Technology had a positive return on equity of 4.59% and a negative net margin of 27.49%. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the prior year, the company earned $0.24 EPS. The business's revenue was up 63.3% compared to the same quarter last year. Analysts anticipate that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, July 11th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.36%. Marvell Technology's dividend payout ratio (DPR) is presently -42.11%.

Insider Activity at Marvell Technology

In related news, EVP Mark Casper sold 12,460 shares of the firm's stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $55.00, for a total transaction of $685,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Chris Koopmans sold 6,000 shares of the firm's 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 $412,980.00. Following the transaction, the chief operating officer now directly owns 81,931 shares of the company's stock, valued at approximately $5,639,310.73. This trade represents a 6.82% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,541 shares of company stock valued at $2,079,948 in the last 90 days. Corporate insiders own 0.19% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on MRVL shares. Redburn Atlantic assumed coverage on Marvell Technology in a report on Wednesday, May 28th. They issued a "neutral" rating and a $67.00 price objective for the company. Stifel Nicolaus dropped their target price on Marvell Technology from $115.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Barclays dropped their target price on Marvell Technology from $130.00 to $80.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Loop Capital dropped their target price on Marvell Technology from $110.00 to $90.00 and set a "buy" rating for the company in a report on Friday, May 30th. Finally, Cantor Fitzgerald restated a "neutral" rating and set a $60.00 target price on shares of Marvell Technology in a report on Friday, May 30th. Seven investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Marvell Technology has an average rating of "Moderate Buy" and an average target price of $94.73.

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.