UniSuper Management Pty Ltd Decreases Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

UniSuper Management Pty Ltd cut its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 20.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,600 shares of the semiconductor company’s stock after selling 4,200 shares during the period. UniSuper Management Pty Ltd’s holdings in Marvell Technology were worth $1,833,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in MRVL. Zweig DiMenna Associates LLC increased its stake in shares of Marvell Technology by 6.3% in the 4th quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock worth $23,583,000 after acquiring an additional 12,700 shares during the last quarter. Berbice Capital Management LLC acquired a new stake in Marvell Technology during the fourth quarter worth about $637,000. RFG Advisory LLC raised its stake in Marvell Technology by 6.2% during the fourth quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock worth $4,708,000 after purchasing an additional 2,507 shares during the period. Nomura Asset Management Co. Ltd. boosted its holdings in Marvell Technology by 23.0% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,862,151 shares of the semiconductor company’s stock valued at $206,418,000 after purchasing an additional 535,203 shares during the last quarter. Finally, Franchise Capital Ltd purchased a new stake in shares of Marvell Technology in the 4th quarter valued at approximately $1,476,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Wall Street Analyst Weigh In

MRVL has been the topic of a number of recent analyst reports. Melius Research upgraded Marvell Technology to a “strong-buy” rating in a report on Monday, January 27th. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a report on Thursday, January 9th. Barclays reduced their price objective on shares of Marvell Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. TD Cowen lowered their target price on shares of Marvell Technology from $125.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Finally, Piper Sandler reduced their price target on shares of Marvell Technology from $120.00 to $95.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. Three research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $120.44.

Marvell Technology Stock Performance

Shares of MRVL stock opened at $62.04 on Monday. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $127.48. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The company has a market cap of $53.73 billion, a P/E ratio of -36.49, a PEG ratio of 1.61 and a beta of 1.42. The firm has a fifty day moving average price of $94.05 and a 200 day moving average price of $93.75.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.39%. The ex-dividend date is Friday, April 11th. Marvell Technology’s dividend payout ratio (DPR) is presently -23.53%.

Insider Buying and Selling

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $68.83, for a total transaction of $103,245.00. Following the sale, the chief financial officer now owns 113,592 shares of the company’s stock, valued at approximately $7,818,537.36. This trade represents a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Panteha Dixon sold 1,430 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $68.75, for a total transaction of $98,312.50. Following the completion of the transaction, the chief accounting officer now owns 31,100 shares of the company’s stock, valued at approximately $2,138,125. The trade was a 4.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,685 shares of company stock worth $4,026,768 over the last 90 days. 0.33% of the stock is owned by insiders.

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.