TD Waterhouse Canada Inc. Trims Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

TD Waterhouse Canada Inc. decreased its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 4.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 145,567 shares of the semiconductor company's stock after selling 6,151 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in Marvell Technology were worth $16,078,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Tower Research Capital LLC TRC lifted its holdings in shares of Marvell Technology by 186.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 82,061 shares of the semiconductor company's stock worth $9,064,000 after acquiring an additional 53,454 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Marvell Technology by 9,910.0% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,001 shares of the semiconductor company's stock worth $111,000 after purchasing an additional 991 shares in the last quarter. MML Investors Services LLC increased its position in shares of Marvell Technology by 6.7% during the 4th quarter. MML Investors Services LLC now owns 154,624 shares of the semiconductor company's stock valued at $17,078,000 after purchasing an additional 9,657 shares during the last quarter. Natixis raised its holdings in shares of Marvell Technology by 1.2% during the 4th quarter. Natixis now owns 700,643 shares of the semiconductor company's stock valued at $77,386,000 after buying an additional 8,535 shares in the last quarter. Finally, Ostrum Asset Management lifted its position in Marvell Technology by 28.2% in the 4th quarter. Ostrum Asset Management now owns 23,280 shares of the semiconductor company's stock worth $2,571,000 after buying an additional 5,125 shares during the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Marvell Technology

In other Marvell Technology news, COO Chris Koopmans sold 6,000 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $106.35, for a total value of $638,100.00. Following the transaction, the chief operating officer now owns 87,931 shares of the company's stock, valued at approximately $9,351,461.85. This represents a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark Casper sold 12,460 shares of the business's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $55.00, for a total value of $685,300.00. The disclosure for this sale can be found here. Insiders have sold 27,390 shares of company stock valued at $1,937,938 over the last ninety days. Insiders own 0.33% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Craig Hallum increased their price target on shares of Marvell Technology from $132.00 to $149.00 and gave the company a "buy" rating in a research report on Monday, January 6th. Morgan Stanley decreased their target price on shares of Marvell Technology from $113.00 to $90.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 6th. Raymond James set a $110.00 price target on shares of Marvell Technology in a research report on Thursday, March 6th. StockNews.com upgraded Marvell Technology from a "sell" rating to a "hold" rating in a report on Thursday, January 9th. Finally, Citigroup dropped their target price on Marvell Technology from $122.00 to $96.00 and set a "buy" rating for the company in a report on Friday, April 11th. Three analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $114.56.

Marvell Technology Stock Up 2.8 %

Shares of MRVL traded up $1.59 on Friday, hitting $58.92. 11,919,398 shares of the stock traded hands, compared to its average volume of 13,618,568. The company has a market capitalization of $51.03 billion, a PE ratio of -34.66, a P/E/G ratio of 1.61 and a beta of 1.78. Marvell Technology, Inc. has a one year low of $47.09 and a one year 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 business has a 50 day simple moving average of $68.53 and a 200 day simple moving average of $90.58.

Marvell Technology Announces Dividend

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

About Marvell Technology

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.