China Universal Asset Management Co. Ltd. Purchases 17,610 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

China Universal Asset Management Co. Ltd. increased its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 160.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,597 shares of the semiconductor company’s stock after purchasing an additional 17,610 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in Marvell Technology were worth $3,159,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. ORG Partners LLC grew its holdings in shares of Marvell Technology by 175.3% during the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 149 shares during the last quarter. Kieckhefer Group LLC bought a new position in Marvell Technology in the 4th quarter valued at about $33,000. True Wealth Design LLC boosted its stake in Marvell Technology by 1,481.8% during the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 326 shares during the last quarter. Quarry LP bought a new stake in Marvell Technology during the 2nd quarter worth approximately $32,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of Marvell Technology in the second quarter worth approximately $32,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insider Activity

In related news, Director Michael G. Strachan sold 5,000 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $122.65, for a total value of $613,250.00. Following the completion of the transaction, the director now directly owns 30,959 shares of the company’s stock, valued at $3,797,121.35. This represents a 13.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $89.14, for a total value of $133,710.00. Following the sale, the chief financial officer now owns 114,211 shares in the company, valued at $10,180,768.54. This represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,755 shares of company stock valued at $4,361,430. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

MRVL has been the subject of several recent research reports. Benchmark reiterated a “buy” rating and set a $135.00 price target (up previously from $115.00) on shares of Marvell Technology in a report on Wednesday, December 4th. Wells Fargo & Company raised their price target on shares of Marvell Technology from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Citigroup boosted their target price on Marvell Technology from $91.00 to $112.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Cantor Fitzgerald increased their price target on Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Finally, Evercore ISI boosted their price objective on Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. Three 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, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $127.60.

Marvell Technology Price Performance

Shares of NASDAQ:MRVL opened at $112.86 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The firm has a fifty day moving average price of $111.72 and a two-hundred day moving average price of $87.43. Marvell Technology, Inc. has a one year low of $53.19 and a one year high of $127.48.

Marvell Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were given a dividend of $0.06 per share. The ex-dividend date was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.21%. Marvell Technology’s payout ratio is -14.12%.

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.