Teacher Retirement System of Texas Acquires 45,296 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Teacher Retirement System of Texas grew its stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 781.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,092 shares of the semiconductor company's stock after purchasing an additional 45,296 shares during the quarter. Teacher Retirement System of Texas' holdings in Marvell Technology were worth $5,643,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Swedbank AB boosted its position in Marvell Technology by 1.0% during the 3rd quarter. Swedbank AB now owns 2,357,695 shares of the semiconductor company's stock valued at $170,037,000 after acquiring an additional 23,680 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Marvell Technology by 1.5% in the third quarter. PNC Financial Services Group Inc. now owns 71,783 shares of the semiconductor company's stock worth $5,177,000 after purchasing an additional 1,062 shares during the period. Avior Wealth Management LLC grew its stake in Marvell Technology by 26.2% in the third quarter. Avior Wealth Management LLC now owns 1,363 shares of the semiconductor company's stock worth $98,000 after purchasing an additional 283 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Marvell Technology by 2.1% during the 3rd 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, Raymond James Trust N.A. lifted its position in Marvell Technology by 14.4% during the 3rd quarter. Raymond James Trust N.A. now owns 21,248 shares of the semiconductor company's stock valued at $1,532,000 after acquiring an additional 2,670 shares during the period. 83.51% of the stock is owned by hedge funds and other institutional investors.

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Marvell Technology Price Performance

Shares of NASDAQ MRVL traded down $1.90 during mid-day trading on Thursday, reaching $64.86. The company's stock had a trading volume of 14,935,255 shares, compared to its average volume of 12,627,872. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $127.48. The stock has a fifty day moving average of $96.36 and a two-hundred day moving average of $93.72. The firm has a market capitalization of $56.17 billion, a PE ratio of -38.15, a P/E/G ratio of 1.61 and a beta of 1.42.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.24 annualized dividend and a yield of 0.37%. Marvell Technology's payout ratio is -23.53%.

Insider Buying and Selling at Marvell Technology

In other news, COO Chris Koopmans sold 6,000 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $68.83, for a total transaction of $412,980.00. Following the sale, the chief operating officer now directly owns 81,931 shares in the company, valued at approximately $5,639,310.73. This represents a 6.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Panteha Dixon sold 1,430 shares of the business's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $68.75, for a total value of $98,312.50. Following the transaction, the chief accounting officer now directly owns 31,100 shares in the company, valued at approximately $2,138,125. This represents a 4.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,685 shares of company stock valued at $4,026,768 in the last three months. 0.33% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

MRVL has been the subject of a number of analyst reports. 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. StockNews.com raised Marvell Technology from a "sell" rating to a "hold" rating in a research note on Thursday, January 9th. JPMorgan Chase & Co. upped their price target on shares of Marvell Technology from $90.00 to $130.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 4th. Evercore ISI increased their price target on shares of Marvell Technology from $98.00 to $122.00 and gave the company an "outperform" rating in a report on Monday, December 2nd. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $140.00 target price on shares of Marvell Technology in a research note on Thursday, March 6th. Three analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $120.44.

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.