China Universal Asset Management Co. Ltd. Purchases 17,610 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

China Universal Asset Management Co. Ltd. grew its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 160.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,597 shares of the semiconductor company’s stock after purchasing an additional 17,610 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in Marvell Technology were worth $3,159,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Waldron Private Wealth LLC lifted its holdings in shares of Marvell Technology by 3.6% in the 4th quarter. Waldron Private Wealth LLC now owns 2,964 shares of the semiconductor company’s stock valued at $327,000 after acquiring an additional 103 shares during the last quarter. Tsfg LLC lifted its stake in shares of Marvell Technology by 7.5% in the 4th quarter. Tsfg LLC now owns 1,593 shares of the semiconductor company’s stock valued at $176,000 after purchasing an additional 111 shares during the last quarter. Citizens Financial Group Inc. RI boosted its holdings in shares of Marvell Technology by 1.5% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 7,842 shares of the semiconductor company’s stock worth $566,000 after purchasing an additional 116 shares during the period. Patton Albertson Miller Group LLC increased its position in shares of Marvell Technology by 1.6% during the 4th quarter. Patton Albertson Miller Group LLC now owns 7,500 shares of the semiconductor company’s stock valued at $828,000 after purchasing an additional 120 shares during the last quarter. Finally, Crumly & Associates Inc. raised its holdings in Marvell Technology by 1.5% during the 3rd quarter. Crumly & Associates Inc. now owns 8,223 shares of the semiconductor company’s stock valued at $593,000 after buying an additional 121 shares during the period. 83.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MRVL has been the topic of a number of analyst reports. Melius began coverage on shares of Marvell Technology in a research report on Monday, January 27th. They set a “buy” rating and a $188.00 price objective on the stock. Barclays increased their target price on Marvell Technology from $115.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Citigroup upped their price target on shares of Marvell Technology from $91.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Melius Research upgraded shares of Marvell Technology to a “strong-buy” rating in a report on Monday, January 27th. Finally, Craig Hallum upped their target price on shares of Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Marvell Technology has an average rating of “Moderate Buy” and a consensus target price of $127.60.

Insiders Place Their Bets

In other news, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total value of $746,400.00. Following the completion of the transaction, the executive vice president now directly owns 93,931 shares in the company, valued at $11,685,016.40. This trade represents a 6.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $183,750.00. Following the completion of the sale, the chief financial officer now owns 112,711 shares in the company, valued at approximately $13,807,097.50. This represents a 1.31 % decrease in their position. 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. Insiders own 0.33% of the company’s stock.

Marvell Technology Stock Performance

Shares of MRVL stock opened at $112.86 on Friday. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week 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 stock’s 50-day simple moving average is $111.72 and its 200-day simple moving average is $87.43.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were paid a dividend of $0.06 per share. The ex-dividend date was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.21%. Marvell Technology’s payout ratio is -14.12%.

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.