MML Investors Services LLC Purchases 9,657 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

MML Investors Services LLC raised its position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 6.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 154,624 shares of the semiconductor company's stock after buying an additional 9,657 shares during the period. MML Investors Services LLC's holdings in Marvell Technology were worth $17,078,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Invesco Ltd. increased its holdings in shares of Marvell Technology by 30.1% during the 4th quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company's stock worth $1,784,649,000 after buying an additional 3,737,705 shares during the last quarter. Wellington Management Group LLP raised its position in Marvell Technology by 43.1% in the fourth quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company's stock valued at $1,374,252,000 after purchasing an additional 3,747,982 shares during the period. Geode Capital Management LLC lifted its stake in shares of Marvell Technology by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 11,468,144 shares of the semiconductor company's stock valued at $1,263,755,000 after purchasing an additional 80,005 shares during the last quarter. Norges Bank purchased a new position in shares of Marvell Technology during the 4th quarter worth $1,138,354,000. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Marvell Technology by 28.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,592,726 shares of the semiconductor company's stock worth $838,617,000 after purchasing an additional 1,691,242 shares during the last quarter. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on MRVL. Loop Capital raised Marvell Technology from a "hold" rating to a "buy" rating and set a $110.00 target price for the company in a research report on Thursday, March 6th. Melius Research upgraded shares of Marvell Technology to a "strong-buy" rating in a research note on Monday, January 27th. Morgan Stanley decreased their price objective on Marvell Technology from $113.00 to $90.00 and set an "equal weight" rating for the company in a research report on Thursday, March 6th. Craig Hallum increased their target price on Marvell Technology from $132.00 to $149.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. Finally, Stifel Nicolaus decreased their price objective on shares of Marvell Technology from $115.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Three research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $114.56.

Insider Transactions at Marvell Technology

In related news, Director Brad W. Buss acquired 3,000 shares of the company's stock in a transaction on Friday, March 7th. The shares were acquired at an average cost of $69.00 per share, for a total transaction of $207,000.00. Following the purchase, the director now owns 87,113 shares in the company, valued at approximately $6,010,797. The trade was a 3.57 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Chris Koopmans sold 6,000 shares of the stock in a transaction that occurred 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 directly owns 87,931 shares of the company's stock, valued at $9,351,461.85. The trade was a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,390 shares of company stock worth $1,937,938. Corporate insiders own 0.33% of the company's stock.

Marvell Technology Stock Performance

NASDAQ MRVL traded up $1.59 during trading on Friday, reaching $58.92. The company's stock had a trading volume of 11,919,398 shares, compared to its average volume of 13,618,568. The firm has a 50 day moving average price of $68.53 and a 200 day moving average price of $90.58. Marvell Technology, Inc. has a 12 month low of $47.09 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 firm has a market capitalization of $51.03 billion, a price-to-earnings ratio of -34.66, a price-to-earnings-growth ratio of 1.61 and a beta of 1.78.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be paid a $0.06 dividend. The ex-dividend date is Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.41%. Marvell Technology's payout ratio is currently -23.53%.

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.