TimesSquare Capital Management LLC Sells 356,228 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

TimesSquare Capital Management LLC decreased its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 40.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 523,990 shares of the semiconductor company's stock after selling 356,228 shares during the period. TimesSquare Capital Management LLC owned approximately 0.06% of Marvell Technology worth $57,875,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Zweig DiMenna Associates LLC boosted its position in shares of Marvell Technology by 6.3% during the 4th quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company's stock valued at $23,583,000 after purchasing an additional 12,700 shares in the last quarter. Berbice Capital Management LLC purchased a new stake in Marvell Technology during the fourth quarter valued at about $637,000. RFG Advisory LLC lifted its stake in Marvell Technology by 6.2% during the fourth quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company's stock valued at $4,708,000 after buying an additional 2,507 shares in the last quarter. Braun Stacey Associates Inc. purchased a new stake in Marvell Technology during the third quarter valued at about $16,435,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Marvell Technology by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company's stock valued at $235,247,000 after buying an additional 66,654 shares in the last quarter. Institutional investors own 83.51% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on MRVL shares. Barclays upped their price objective on shares of Marvell Technology from $115.00 to $150.00 and gave the company an "overweight" rating in a research note on Friday, January 17th. TD Cowen upped their price objective on shares of Marvell Technology from $90.00 to $125.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. The Goldman Sachs Group upped their price objective 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. Bank of America upped their price objective on shares of Marvell Technology from $108.00 to $125.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. Finally, Cantor Fitzgerald upped their price objective on shares of Marvell Technology from $120.00 to $135.00 and gave the company an "overweight" rating in a research note on Wednesday, December 4th. Three investment 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. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $127.60.

Marvell Technology Stock Performance

MRVL stock traded down $4.86 during midday trading on Friday, hitting $103.85. 11,006,714 shares of the company traded hands, compared to its average volume of 12,895,910. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $127.48. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The business has a 50 day simple moving average of $113.59 and a 200-day simple moving average of $92.01. The stock has a market capitalization of $89.86 billion, a price-to-earnings ratio of -61.09, a price-to-earnings-growth ratio of 1.64 and a beta of 1.40.

Marvell Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.24 annualized dividend and a yield of 0.23%. Marvell Technology's dividend payout ratio (DPR) is presently -14.12%.

Insider Buying and Selling at Marvell Technology

In other news, COO Chris Koopmans sold 6,000 shares of the firm's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $106.35, for a total value of $638,100.00. Following the sale, the chief operating officer now owns 87,931 shares in the company, valued at approximately $9,351,461.85. This trade represents a 6.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction 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. The trade was a 1.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,255 shares of company stock worth $4,330,980 over the last 90 days. 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.