Marvell Technology, Inc. (NASDAQ:MRVL) Shares Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 10.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 709,998 shares of the semiconductor company’s stock after buying an additional 65,922 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Marvell Technology were worth $83,908,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Korea Investment CORP lifted its holdings in shares of Marvell Technology by 10.3% during the fourth quarter. Korea Investment CORP now owns 658,563 shares of the semiconductor company’s stock valued at $72,738,000 after purchasing an additional 61,367 shares during the last quarter. Tyler Stone Wealth Management lifted its stake in Marvell Technology by 15.6% during the fourth quarter. Tyler Stone Wealth Management now owns 4,205 shares of the semiconductor company’s stock valued at $464,000 after buying an additional 568 shares in the last quarter. Situational Awareness LP acquired a new position in shares of Marvell Technology in the fourth quarter worth about $86,802,000. Murphy & Mullick Capital Management Corp purchased a new position in shares of Marvell Technology in the fourth quarter worth approximately $106,000. Finally, Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of Marvell Technology by 16.3% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 13,876 shares of the semiconductor company’s stock valued at $1,533,000 after acquiring an additional 1,945 shares during the period. 83.51% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on MRVL shares. StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a research report on Thursday, January 9th. Melius Research upgraded Marvell Technology to a “strong-buy” rating in a report on Monday, January 27th. Rosenblatt Securities reissued a “buy” rating and issued a $140.00 price objective on shares of Marvell Technology in a research note on Thursday, March 6th. Stifel Nicolaus lowered their target price on Marvell Technology from $130.00 to $115.00 and set a “buy” rating on the stock 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 for the company in a research report on Thursday, March 6th. Three research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, 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 opened at $64.86 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. Marvell Technology, Inc. has a one year low of $53.19 and a one year high of $127.48. The company’s fifty day moving average price is $95.30 and its 200 day moving average price is $93.52. The company has a market capitalization of $56.17 billion, a PE ratio of -38.15, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be paid a dividend of $0.06 per share. The ex-dividend date is Friday, April 11th. This represents a $0.24 annualized dividend and a yield of 0.37%. Marvell Technology’s payout ratio is -23.53%.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $68.83, for a total value of $103,245.00. Following the completion of the sale, the chief financial officer now directly owns 113,592 shares of the company’s stock, valued at $7,818,537.36. This represents a 1.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Panteha Dixon sold 1,430 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $68.75, for a total transaction of $98,312.50. Following the transaction, the chief accounting officer now owns 31,100 shares in the company, 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 have sold 37,685 shares of company stock valued at $4,026,768 in the last 90 days. 0.33% of the stock is currently 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.