TD Private Client Wealth LLC Boosts Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

TD Private Client Wealth LLC raised its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 22.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,843 shares of the semiconductor company's stock after purchasing an additional 5,873 shares during the period. TD Private Client Wealth LLC's holdings in Marvell Technology were worth $3,517,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Zweig DiMenna Associates LLC lifted its holdings in shares of Marvell Technology by 6.3% in the fourth quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company's stock worth $23,583,000 after acquiring an additional 12,700 shares during the last quarter. Berbice Capital Management LLC acquired a new position in Marvell Technology during the 4th quarter worth approximately $637,000. RFG Advisory LLC lifted its stake in Marvell Technology by 6.2% in the 4th quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company's stock valued at $4,708,000 after purchasing an additional 2,507 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Marvell Technology by 2.1% in 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. Finally, Nomura Asset Management Co. Ltd. grew its stake in shares of Marvell Technology by 23.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 2,862,151 shares of the semiconductor company's stock worth $206,418,000 after buying an additional 535,203 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors.

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Insider Buying and Selling

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $68.83, for a total transaction of $103,245.00. Following the completion of the sale, the chief financial officer now directly owns 113,592 shares of the company's stock, valued at approximately $7,818,537.36. The trade was a 1.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mark Casper sold 7,755 shares of the stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $123.08, for a total value of $954,485.40. The disclosure for this sale can be found here. Insiders have sold 37,685 shares of company stock worth $4,026,768 in the last quarter. Insiders own 0.33% of the company's stock.

Marvell Technology Stock Down 1.5 %

Shares of NASDAQ:MRVL traded down $1.09 during trading on Tuesday, reaching $71.67. 9,431,825 shares of the stock were exchanged, compared to its average volume of 12,600,111. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $127.48. The stock has a fifty day moving average of $98.21 and a two-hundred day moving average of $93.87. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The firm has a market cap of $62.07 billion, a price-to-earnings ratio of -42.16, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.33%. The ex-dividend date is Friday, April 11th. Marvell Technology's payout ratio is presently -23.53%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on MRVL shares. UBS Group increased their price target on Marvell Technology from $110.00 to $115.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. The Goldman Sachs Group raised their price target 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. Rosenblatt Securities reaffirmed a "buy" rating and set a $140.00 target price on shares of Marvell Technology in a report on Thursday, March 6th. Barclays reduced their price target on Marvell Technology from $150.00 to $130.00 and set an "overweight" rating on the stock in a research report on Thursday, March 6th. Finally, Morgan Stanley cut their price objective on Marvell Technology from $113.00 to $90.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 6th. Three research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Marvell Technology currently has a consensus rating of "Moderate Buy" and a consensus price target of $120.44.

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.