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) by 45.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,090 shares of the semiconductor company’s stock after acquiring an additional 17,214 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Marvell Technology were worth $6,715,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Centricity Wealth Management LLC bought a new position in shares of Marvell Technology in the 4th quarter valued at about $26,000. ORG Partners LLC grew its holdings 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 acquiring an additional 149 shares in the last quarter. Kieckhefer Group LLC bought a new position in shares of Marvell Technology in the 4th quarter valued at about $33,000. Financial Life Planners bought a new position in shares of Marvell Technology in the 4th quarter valued at about $33,000. Finally, GHP Investment Advisors Inc. grew its holdings in shares of Marvell Technology by 48.3% in the 4th quarter. GHP Investment Advisors Inc. now owns 344 shares of the semiconductor company’s stock valued at $38,000 after acquiring an additional 112 shares in the last quarter. Institutional investors own 83.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Loop Capital upgraded Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company in a report on Thursday. StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. Barclays cut their target price on shares of Marvell Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday. The Goldman Sachs Group raised their target price on shares of Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Finally, JPMorgan Chase & Co. raised their target price on shares of Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Three analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $121.68.

Marvell Technology Stock Down 2.0 %

NASDAQ MRVL opened at $70.84 on Monday. 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, Inc. has a 1-year low of $53.19 and a 1-year high of $127.48. The company has a 50 day moving average of $108.27 and a 200-day moving average of $94.00. The company has a market cap of $61.30 billion, a price-to-earnings ratio of -41.67, a PEG ratio of 1.61 and a beta of 1.42.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were given a $0.06 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.34%. Marvell Technology’s payout ratio is -23.53%.

Insider Activity

In related news, EVP Mark Casper sold 7,755 shares of Marvell Technology stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $123.08, for a total value of $954,485.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $183,750.00. Following the completion of the transaction, the chief financial officer now directly owns 112,711 shares in the company, valued at $13,807,097.50. This trade represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,255 shares of company stock worth $4,330,980. Corporate insiders own 0.33% of the company’s stock.

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.