Bank Julius Baer & Co. Ltd Zurich Raises Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Bank Julius Baer & Co. Ltd Zurich grew its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 116.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,313 shares of the semiconductor company's stock after purchasing an additional 30,800 shares during the period. Bank Julius Baer & Co. Ltd Zurich's holdings in Marvell Technology were worth $3,457,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA grew its position in shares of Marvell Technology by 43.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 7,043,353 shares of the semiconductor company's stock valued at $381,257,000 after purchasing an additional 2,142,391 shares in the last quarter. Kingswood Wealth Advisors LLC lifted its holdings in shares of Marvell Technology by 328.3% in the 3rd quarter. Kingswood Wealth Advisors LLC now owns 23,949 shares of the semiconductor company's stock valued at $1,296,000 after acquiring an additional 18,357 shares during the last quarter. Fred Alger Management LLC lifted its holdings in shares of Marvell Technology by 2.4% in the 3rd quarter. Fred Alger Management LLC now owns 4,036,564 shares of the semiconductor company's stock valued at $218,499,000 after acquiring an additional 95,003 shares during the last quarter. NewEdge Wealth LLC lifted its holdings in shares of Marvell Technology by 15.6% in the 3rd quarter. NewEdge Wealth LLC now owns 7,197 shares of the semiconductor company's stock valued at $390,000 after acquiring an additional 973 shares during the last quarter. Finally, Montag A & Associates Inc. lifted its holdings in shares of Marvell Technology by 15.8% in the 3rd quarter. Montag A & Associates Inc. now owns 64,837 shares of the semiconductor company's stock valued at $3,510,000 after acquiring an additional 8,836 shares during the last quarter. Hedge funds and other institutional investors own 83.51% of the company's stock.

Insider Activity at Marvell Technology

In related news, CEO Matthew J. Murphy sold 30,000 shares of Marvell Technology stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $67.67, for a total transaction of $2,030,100.00. Following the transaction, the chief executive officer now directly owns 762,929 shares of the company's stock, valued at $51,627,405.43. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Marvell Technology news, CEO Matthew J. Murphy sold 30,000 shares of Marvell Technology stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $67.67, for a total value of $2,030,100.00. Following the transaction, the chief executive officer now directly owns 762,929 shares of the company's stock, valued at $51,627,405.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Willem A. Meintjes sold 1,000 shares of Marvell Technology stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $68.20, for a total transaction of $68,200.00. Following the completion of the transaction, the chief financial officer now directly owns 103,986 shares in the company, valued at $7,091,845.20. The disclosure for this sale can be found here. Insiders have sold a total of 110,500 shares of company stock valued at $7,477,515 over the last ninety days. 0.45% of the stock is owned by company insiders.

Marvell Technology Stock Up 3.2 %

MRVL stock traded up $2.14 during trading on Friday, hitting $69.62. 11,543,835 shares of the company's stock traded hands, compared to its average volume of 11,314,156. The firm has a market capitalization of $60.29 billion, a P/E ratio of -64.46, a PEG ratio of 4.94 and a beta of 1.50. The business has a fifty day simple moving average of $69.87 and a two-hundred day simple moving average of $62.62. The company has a quick ratio of 1.21, a current ratio of 1.69 and a debt-to-equity ratio of 0.27. Marvell Technology, Inc. has a 1 year low of $37.71 and a 1 year high of $85.76.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last issued its quarterly earnings data on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.46. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.42 billion. Marvell Technology had a negative net margin of 16.95% and a positive return on equity of 4.96%. Marvell Technology's revenue was up .6% compared to the same quarter last year. During the same period last year, the company posted $0.34 earnings per share. Sell-side analysts anticipate that Marvell Technology, Inc. will post 0.72 EPS for the current year.

Marvell Technology announced that its board has approved a stock buyback program on Thursday, March 7th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the semiconductor company to purchase up to 4.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.

Marvell Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 12th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.34%. The ex-dividend date of this dividend is Thursday, April 11th. Marvell Technology's payout ratio is -22.22%.

Analysts Set New Price Targets

MRVL has been the subject of a number of analyst reports. TD Cowen increased their price target on shares of Marvell Technology from $75.00 to $90.00 and gave the company an "outperform" rating in a report on Friday, March 8th. Barclays increased their price target on shares of Marvell Technology from $70.00 to $75.00 and gave the company an "overweight" rating in a report on Tuesday, January 16th. UBS Group increased their price target on shares of Marvell Technology from $70.00 to $83.00 and gave the company a "buy" rating in a report on Monday, February 26th. StockNews.com raised shares of Marvell Technology from a "sell" rating to a "hold" rating in a research note on Saturday, April 20th. Finally, Raymond James raised their price objective on shares of Marvell Technology from $62.00 to $78.00 and gave the stock an "outperform" rating in a research note on Friday, January 19th. Two analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $81.13.

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.