TD Private Client Wealth LLC Has $3.52 Million Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

TD Private Client Wealth LLC grew its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 22.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,843 shares of the semiconductor company’s stock after acquiring an additional 5,873 shares during the quarter. TD Private Client Wealth LLC’s holdings in Marvell Technology were worth $3,517,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Swedbank AB increased its stake in shares of Marvell Technology by 1.0% in the third quarter. Swedbank AB now owns 2,357,695 shares of the semiconductor company’s stock valued at $170,037,000 after buying an additional 23,680 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of 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 valued at $5,177,000 after buying an additional 1,062 shares during the period. Avior Wealth Management LLC increased its stake in shares of Marvell Technology by 26.2% in the third quarter. Avior Wealth Management LLC now owns 1,363 shares of the semiconductor company’s stock valued at $98,000 after buying an additional 283 shares during the period. Citizens Financial Group Inc. RI increased its stake in shares of Marvell Technology by 1.5% in the third quarter. Citizens Financial Group Inc. RI now owns 7,842 shares of the semiconductor company’s stock valued at $566,000 after buying an additional 116 shares during the period. Finally, Intech Investment Management LLC increased its stake in shares of Marvell Technology by 16.6% in the third quarter. Intech Investment Management LLC now owns 104,296 shares of the semiconductor company’s stock valued at $7,522,000 after buying an additional 14,846 shares during the period. Institutional investors and hedge funds own 83.51% of the company’s stock.

Analyst Ratings Changes

MRVL has been the subject of several recent research reports. Stifel Nicolaus lowered their price objective on Marvell Technology from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Marvell Technology in a research note on Thursday, March 6th. Summit Insights cut Marvell Technology from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. TD Cowen reduced their target price on Marvell Technology from $125.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Finally, William Blair upgraded Marvell Technology to a “strong-buy” rating in a report on Wednesday, February 5th. Three investment 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $120.44.

Insider Buying and Selling

In related news, CAO Panteha Dixon sold 1,430 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $68.75, for a total value of $98,312.50. Following the completion of the sale, the chief accounting officer now directly owns 31,100 shares of the company’s stock, valued at approximately $2,138,125. This represents a 4.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $118.33, for a total value of $177,495.00. Following the completion of the sale, the chief financial officer now directly owns 111,211 shares of the company’s stock, valued at $13,159,597.63. The trade was a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,685 shares of company stock worth $4,026,768 in the last ninety days. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology Price Performance

Shares of MRVL opened at $70.39 on Friday. Marvell Technology, Inc. has a 12-month low of $53.19 and a 12-month high of $127.48. The business’s fifty day moving average is $99.06 and its 200 day moving average is $93.52. 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 stock has a market cap of $60.96 billion, a P/E ratio of -41.41, a P/E/G ratio of 1.61 and a beta of 1.42.

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.34%. Marvell Technology’s dividend payout ratio is currently -23.53%.

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.