Union Bancaire Privee UBP SA Invests $16.70 Million in Marvell Technology, Inc. (NASDAQ:MRVL)

Union Bancaire Privee UBP SA purchased a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 154,807 shares of the semiconductor company’s stock, valued at approximately $16,699,000.

Several other institutional investors also recently bought and sold shares of the company. True Wealth Design LLC raised its holdings in shares of Marvell Technology by 1,481.8% during the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 326 shares during the last quarter. ORG Partners LLC increased its position 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 worth $26,000 after purchasing an additional 149 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in Marvell Technology in the 2nd quarter valued at $32,000. Quarry LP purchased a new position in Marvell Technology in the 2nd quarter valued at $32,000. Finally, Kieckhefer Group LLC acquired a new stake in Marvell Technology during the 4th quarter worth $33,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Marvell Technology Stock Performance

MRVL stock opened at $124.02 on Monday. The business’s fifty day moving average price is $110.11 and its 200 day moving average price is $86.44. 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.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.19%. Marvell Technology’s dividend payout ratio is presently -14.12%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on MRVL shares. Evercore ISI raised their price target on shares of Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. Susquehanna raised their target price on shares of Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a research note on Wednesday, December 4th. Bank of America upped their price target on Marvell Technology from $108.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Oppenheimer lifted their price objective on Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Finally, Citigroup upped their target price on Marvell Technology from $91.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $125.38.

Insider Activity

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $534,840.00. Following the sale, the executive vice president now owns 103,244 shares of the company’s stock, valued at $9,203,170.16. This trade represents a 5.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction 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. The trade was a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,755 shares of company stock valued at $4,361,430. 0.33% of the stock is currently owned by company insiders.

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.