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

Union Bancaire Privee UBP SA reduced its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 45.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,757 shares of the semiconductor company’s stock after selling 71,050 shares during the period. Union Bancaire Privee UBP SA’s holdings in Marvell Technology were worth $5,057,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Centricity Wealth Management LLC bought a new position in Marvell Technology in the fourth quarter worth approximately $26,000. Rialto Wealth Management LLC purchased a new stake in Marvell Technology in the fourth quarter worth about $27,000. Lee Danner & Bass Inc. bought a new position in Marvell Technology during the 4th quarter worth about $35,000. Capital Analysts LLC increased its position in Marvell Technology by 236.3% during the 4th quarter. Capital Analysts LLC now owns 343 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 241 shares during the period. Finally, Sierra Ocean LLC bought a new stake in shares of Marvell Technology in the 4th quarter valued at about $44,000. 83.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MRVL has been the topic of a number of recent research reports. Evercore ISI dropped their price objective on shares of Marvell Technology from $135.00 to $133.00 and set an “outperform” rating on the stock in a research note on Friday, May 30th. Stifel Nicolaus lowered 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. Susquehanna dropped their target price on Marvell Technology from $110.00 to $90.00 and set a “positive” rating on the stock in a research report on Tuesday, May 27th. Barclays reduced their price target on Marvell Technology from $130.00 to $80.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Finally, B. Riley decreased their price objective on Marvell Technology from $135.00 to $110.00 and set a “buy” rating for the company in a research note on Monday, May 19th. Seven analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Marvell Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.73.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $68.83, for a total value of $103,245.00. Following the sale, the chief financial officer now owns 113,592 shares in the company, valued at approximately $7,818,537.36. This represents a 1.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Mark Casper sold 12,460 shares of the business’s stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $55.00, for a total transaction of $685,300.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,541 shares of company stock valued at $2,079,948. 0.19% of the stock is owned by insiders.

Marvell Technology Trading Down 0.9%

Shares of NASDAQ:MRVL opened at $68.24 on Thursday. Marvell Technology, Inc. has a 52-week low of $47.09 and a 52-week high of $127.48. The stock has a market cap of $58.95 billion, a price-to-earnings ratio of -40.14, a PEG ratio of 1.61 and a beta of 1.76. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The business has a 50-day moving average price of $59.59 and a 200-day moving average price of $85.54.

Marvell Technology (NASDAQ:MRVL) last issued its quarterly earnings results on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.01. Marvell Technology had a negative net margin of 27.49% and a positive return on equity of 4.59%. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the prior year, the company earned $0.24 EPS. Marvell Technology’s quarterly revenue was up 63.3% on a year-over-year basis. Equities analysts predict that Marvell Technology, Inc. will post 0.91 EPS for the current year.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Friday, April 11th were given a dividend of $0.06 per share. The ex-dividend date was Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.35%. Marvell Technology’s dividend payout ratio is presently -42.11%.

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.