OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 5,000 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 50.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,000 shares of the semiconductor company's stock after selling 5,000 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC's holdings in Marvell Technology were worth $552,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Centricity Wealth Management LLC bought a new position in Marvell Technology during the fourth quarter worth $26,000. Rialto Wealth Management LLC bought a new stake in shares of Marvell Technology during the 4th quarter valued at about $27,000. Financial Life Planners acquired a new stake in Marvell Technology during the fourth quarter worth approximately $33,000. Lee Danner & Bass Inc. acquired a new stake in Marvell Technology during the fourth quarter worth approximately $35,000. Finally, GHP Investment Advisors Inc. lifted its stake in Marvell Technology by 48.3% in the fourth quarter. GHP Investment Advisors Inc. now owns 344 shares of the semiconductor company's stock valued at $38,000 after buying an additional 112 shares during the period. Institutional investors own 83.51% of the company's stock.

Insiders Place Their Bets

In related news, COO Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $65.10, for a total transaction of $390,600.00. Following the transaction, the chief operating officer now directly owns 92,065 shares in the company, valued at approximately $5,993,431.50. The trade was a 6.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Panteha Dixon sold 1,430 shares of the business's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $68.75, for a total value of $98,312.50. Following the sale, the chief accounting officer now directly owns 31,100 shares of the company's stock, valued at $2,138,125. This represents a 4.40% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,915 shares of company stock worth $2,679,800. Company insiders own 0.19% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Barclays reduced their price target on shares of Marvell Technology from $130.00 to $80.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Stifel Nicolaus dropped their price target on Marvell Technology from $115.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. William Blair upgraded shares of Marvell Technology to a "strong-buy" rating in a research note on Wednesday, February 5th. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Marvell Technology in a report on Thursday, March 6th. Finally, Roth Capital set a $100.00 price objective on Marvell Technology in a research note on Thursday, March 6th. Four research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $111.27.

Marvell Technology Stock Performance

NASDAQ:MRVL traded down $1.44 during trading hours on Friday, reaching $63.76. The company had a trading volume of 18,619,351 shares, compared to its average volume of 14,026,913. The firm has a market cap of $55.08 billion, a price-to-earnings ratio of -37.51, a PEG ratio of 1.61 and a beta of 1.83. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The firm's 50 day moving average price is $60.43 and its 200-day moving average price is $88.83. Marvell Technology, Inc. has a 52 week low of $47.09 and a 52 week high of $127.48.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Friday, April 11th were given a $0.06 dividend. The ex-dividend date of this dividend was Friday, April 11th. This represents a $0.24 annualized dividend and a yield of 0.38%. Marvell Technology's payout ratio is presently -23.53%.

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.