Bank Julius Baer & Co. Ltd Zurich Buys 17,214 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Bank Julius Baer & Co. Ltd Zurich grew its stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 45.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,090 shares of the semiconductor company's stock after purchasing an additional 17,214 shares during the period. Bank Julius Baer & Co. Ltd Zurich's holdings in Marvell Technology were worth $6,715,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. True Wealth Design LLC grew its stake in shares of Marvell Technology by 1,481.8% in 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 period. ORG Partners LLC grew its stake in shares of Marvell Technology by 175.3% in the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company's stock valued at $26,000 after purchasing an additional 149 shares during the period. Centricity Wealth Management LLC bought a new stake in shares of Marvell Technology in the 4th quarter valued at approximately $26,000. Kieckhefer Group LLC bought a new stake in Marvell Technology during the 4th quarter worth approximately $33,000. Finally, Financial Life Planners bought a new stake in Marvell Technology during the 4th quarter worth approximately $33,000. 83.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on MRVL shares. Citigroup decreased their price target on Marvell Technology from $136.00 to $122.00 and set a "buy" rating on the stock in a research report on Thursday. StockNews.com upgraded Marvell Technology from a "sell" rating to a "hold" rating in a research report on Thursday, January 9th. Susquehanna increased their price target on Marvell Technology from $110.00 to $125.00 and gave the stock a "positive" rating in a research report on Wednesday, December 4th. Summit Insights lowered Marvell Technology from a "buy" rating to a "hold" rating in a research report on Thursday. Finally, Melius Research upgraded Marvell Technology to a "strong-buy" rating in a research report on Monday, January 27th. Three equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $121.68.

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Marvell Technology Stock Performance

Shares of Marvell Technology stock opened at $70.84 on Monday. The company has a market capitalization of $61.30 billion, a PE ratio of -41.67, a PEG ratio of 1.61 and a beta of 1.42. 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 stock's fifty day simple moving average is $108.27 and its 200 day simple moving average is $94.00.

Marvell Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.34%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology's payout ratio is presently -23.53%.

Insider Buying and Selling

In other Marvell Technology news, Director Brad W. Buss acquired 3,000 shares of the company's stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average price of $69.00 per share, with a total value of $207,000.00. Following the purchase, the director now owns 87,113 shares of the company's stock, valued at $6,010,797. This represents a 3.57 % increase in their position. The purchase 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 the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $183,750.00. Following the transaction, the chief financial officer now owns 112,711 shares of the company's stock, valued at approximately $13,807,097.50. This trade represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,255 shares of company stock valued at $4,330,980. 0.33% of the stock is 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.

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