Bank Pictet & Cie Europe AG Boosts Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Bank Pictet & Cie Europe AG boosted its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 0.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,710 shares of the semiconductor company’s stock after buying an additional 460 shares during the period. Bank Pictet & Cie Europe AG’s holdings in Marvell Technology were worth $7,368,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of MRVL. Temasek Holdings Private Ltd increased its stake in Marvell Technology by 581.8% during the 3rd quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company’s stock worth $161,555,000 after buying an additional 1,911,532 shares in the last quarter. Holocene Advisors LP purchased a new stake in Marvell Technology during the 3rd quarter worth approximately $120,116,000. Van ECK Associates Corp increased its stake in Marvell Technology by 26.6% during the 3rd quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock worth $538,868,000 after buying an additional 1,570,050 shares in the last quarter. Perpetual Ltd increased its stake in Marvell Technology by 3,405.3% during the 4th quarter. Perpetual Ltd now owns 702,498 shares of the semiconductor company’s stock worth $77,591,000 after buying an additional 682,457 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in Marvell Technology by 14.0% during the 4th quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company’s stock worth $518,435,000 after buying an additional 571,005 shares in the last quarter. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MRVL. Bank of America boosted their target price on Marvell Technology from $108.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Needham & Company LLC boosted their target price on Marvell Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. William Blair upgraded Marvell Technology to a “strong-buy” rating in a report on Wednesday, February 5th. Susquehanna boosted their target price on Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a report on Wednesday, December 4th. Finally, Wells Fargo & Company boosted their target price on Marvell Technology from $130.00 to $140.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Three investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.60.

Insider Transactions at Marvell Technology

In related news, EVP Mark Casper sold 7,755 shares of the stock in a transaction on Friday, January 17th. The stock was sold at an average price of $123.08, for a total value of $954,485.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $735,000.00. Following the completion of the transaction, the executive vice president now directly owns 97,244 shares in the company, valued at $11,912,390. This trade represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,255 shares of company stock valued at $3,692,880. 0.33% of the stock is currently owned by company insiders.

Marvell Technology Stock Up 2.9 %

NASDAQ:MRVL opened at $106.51 on Friday. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $127.48. The stock’s fifty day moving average is $113.94 and its two-hundred day moving average is $90.43. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology’s dividend payout ratio is currently -14.12%.

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.