Marvell Technology, Inc. (NASDAQ:MRVL) Stake Increased by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 8.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 440,209 shares of the semiconductor company's stock after acquiring an additional 35,758 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.05% of Marvell Technology worth $24,986,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of MRVL. Westpac Banking Corp boosted its holdings in shares of Marvell Technology by 3.0% during the 4th quarter. Westpac Banking Corp now owns 8,877 shares of the semiconductor company's stock valued at $535,000 after buying an additional 260 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Marvell Technology by 12.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,935,630 shares of the semiconductor company's stock worth $478,598,000 after acquiring an additional 892,277 shares in the last quarter. Avantax Advisory Services Inc. grew its holdings in Marvell Technology by 29.0% in the fourth quarter. Avantax Advisory Services Inc. now owns 31,550 shares of the semiconductor company's stock worth $1,903,000 after purchasing an additional 7,101 shares during the period. Forum Financial Management LP lifted its holdings in shares of Marvell Technology by 6.5% during the fourth quarter. Forum Financial Management LP now owns 10,480 shares of the semiconductor company's stock valued at $632,000 after purchasing an additional 639 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its position in shares of Marvell Technology by 4.3% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 64,397 shares of the semiconductor company's stock worth $3,884,000 after purchasing an additional 2,648 shares in the last quarter. 83.51% of the stock is owned by institutional investors.

Analyst Ratings Changes

MRVL has been the subject of several recent research reports. B. Riley reissued a "buy" rating and set a $95.00 price target (up previously from $85.00) on shares of Marvell Technology in a report on Monday, March 4th. Rosenblatt Securities reissued a "buy" rating and set a $100.00 price objective on shares of Marvell Technology in a report on Monday, March 4th. Raymond James boosted their target price on Marvell Technology from $62.00 to $78.00 and gave the stock an "outperform" rating in a research report on Friday, January 19th. Jefferies Financial Group started coverage on Marvell Technology in a report on Monday. They set a "buy" rating and a $85.00 price target for the company. Finally, StockNews.com lowered shares of Marvell Technology from a "hold" rating to a "sell" rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat, Marvell Technology presently has a consensus rating of "Moderate Buy" and an average target price of $81.28.

Insider Buying and Selling at Marvell Technology

In related news, CEO Matthew J. Murphy sold 30,000 shares of the business's stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $66.17, for a total value of $1,985,100.00. Following the completion of the sale, the chief executive officer now directly owns 732,929 shares of the company's stock, valued at $48,497,911.93. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Marvell Technology news, CFO Willem A. Meintjes sold 1,000 shares of Marvell Technology stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $64.49, for a total value of $64,490.00. Following the transaction, the chief financial officer now directly owns 110,218 shares in the company, valued at $7,107,958.82. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Matthew J. Murphy sold 30,000 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $66.17, for a total transaction of $1,985,100.00. Following the sale, the chief executive officer now owns 732,929 shares of the company's stock, valued at approximately $48,497,911.93. The disclosure for this sale can be found here. Insiders have sold 110,500 shares of company stock worth $7,522,055 over the last three months. Insiders own 0.33% of the company's stock.

Marvell Technology Trading Down 1.6 %

Shares of MRVL stock traded down $1.16 on Friday, hitting $71.92. The stock had a trading volume of 7,148,628 shares, compared to its average volume of 13,330,900. The company's 50 day moving average price is $68.73 and its 200-day moving average price is $64.29. Marvell Technology, Inc. has a 1 year low of $43.51 and a 1 year high of $85.76. The firm has a market capitalization of $62.24 billion, a P/E ratio of -68.00, a P/E/G ratio of 5.05 and a beta of 1.48. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.69 and a quick ratio of 1.21.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last released its earnings results on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.46. Marvell Technology had a positive return on equity of 4.96% and a negative net margin of 16.95%. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period last year, the business posted $0.34 earnings per share. Marvell Technology's revenue was up .6% compared to the same quarter last year. Analysts anticipate that Marvell Technology, Inc. will post 0.73 earnings per share for the current year.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Friday, April 12th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date of this dividend was Thursday, April 11th. Marvell Technology's dividend payout ratio (DPR) is -22.22%.

Marvell Technology announced that its Board of Directors has authorized a stock buyback plan on Thursday, March 7th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to buy up to 4.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

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.