Mitsubishi UFJ Trust & Banking Corp Sells 6,090 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Mitsubishi UFJ Trust & Banking Corp decreased its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 1.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 394,921 shares of the semiconductor company's stock after selling 6,090 shares during the period. Mitsubishi UFJ Trust & Banking Corp's holdings in Marvell Technology were worth $43,619,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of MRVL. True Wealth Design LLC grew its holdings in shares of Marvell Technology by 1,481.8% in 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 in the last quarter. ORG Partners LLC boosted its position in Marvell Technology by 175.3% in 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 during the last quarter. Centricity Wealth Management LLC bought a new position in Marvell Technology in the 4th quarter valued at $26,000. Rialto Wealth Management LLC purchased a new stake in shares of Marvell Technology during the 4th quarter valued at $27,000. Finally, Kieckhefer Group LLC purchased a new position in shares of Marvell Technology in the 4th quarter worth about $33,000. Institutional investors own 83.51% of the company's stock.

Marvell Technology Trading Down 4.3 %

Shares of NASDAQ MRVL traded down $2.82 during mid-day trading on Friday, hitting $62.04. The stock had a trading volume of 18,769,219 shares, compared to its average volume of 12,913,647. The business has a 50 day moving average price of $94.05 and a two-hundred day moving average price of $93.62. Marvell Technology, Inc. has a 1 year low of $53.19 and a 1 year high of $127.48. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The firm has a market cap of $53.73 billion, a P/E ratio of -36.49, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42.

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Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be paid 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 of this dividend is Friday, April 11th. Marvell Technology's dividend payout ratio (DPR) is -23.53%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Oppenheimer raised their price objective on shares of Marvell Technology from $110.00 to $125.00 and gave the stock an "outperform" rating in a report on Wednesday, December 4th. William Blair upgraded Marvell Technology to a "strong-buy" rating in a research note on Wednesday, February 5th. Craig Hallum raised their target price on Marvell Technology from $132.00 to $149.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Rosenblatt Securities reaffirmed a "buy" rating and set a $140.00 price target on shares of Marvell Technology in a research report on Thursday, March 6th. Finally, TD Cowen decreased their price objective on Marvell Technology from $125.00 to $95.00 and set a "buy" rating for the company in a report on Thursday, March 6th. Three 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. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $120.44.

Insider Activity

In related news, CAO Panteha Dixon sold 1,430 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $68.75, for a total value of $98,312.50. Following the completion of the sale, the chief accounting officer now owns 31,100 shares of the company's stock, valued at $2,138,125. This trade represents a 4.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Mark Casper sold 2,500 shares of the business's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total transaction of $282,500.00. Following the transaction, the executive vice president now directly owns 24,706 shares in the company, valued at approximately $2,791,778. The trade was a 9.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,685 shares of company stock valued at $4,026,768. Insiders own 0.33% of the company's stock.

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.