Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by TIAA Trust National Association

TIAA Trust National Association lowered its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 2.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,747 shares of the semiconductor company’s stock after selling 675 shares during the quarter. TIAA Trust National Association’s holdings in Marvell Technology were worth $3,396,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of MRVL. Zweig DiMenna Associates LLC raised its holdings in Marvell Technology by 6.3% in the 4th quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock valued at $23,583,000 after buying an additional 12,700 shares during the period. Berbice Capital Management LLC purchased a new stake in shares of Marvell Technology in the 4th quarter valued at approximately $637,000. RFG Advisory LLC lifted its holdings in shares of Marvell Technology by 6.2% in the 4th quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock worth $4,708,000 after acquiring an additional 2,507 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in shares of Marvell Technology by 23.0% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,862,151 shares of the semiconductor company’s stock worth $206,418,000 after purchasing an additional 535,203 shares during the period. Finally, Franchise Capital Ltd acquired a new stake in Marvell Technology in the 4th quarter valued at approximately $1,476,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Loop Capital upgraded Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 price target for the company in a research report on Thursday, March 6th. Cantor Fitzgerald boosted their price target on shares of Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Wells Fargo & Company restated an “overweight” rating on shares of Marvell Technology in a research note on Thursday, March 6th. Roth Capital set a $100.00 price objective on Marvell Technology in a research report on Thursday, March 6th. Finally, B. Riley boosted their target price on shares of Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Three analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $120.44.

Marvell Technology Price Performance

Shares of NASDAQ MRVL opened at $66.76 on Thursday. The company’s 50-day moving average price is $96.36 and its 200 day moving average price is $93.72. The stock has a market cap of $57.82 billion, a price-to-earnings ratio of -39.27, a PEG ratio of 1.61 and a beta of 1.42. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $127.48.

Marvell Technology Announces Dividend

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 paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.36%. The ex-dividend date is Friday, April 11th. Marvell Technology’s payout ratio is -23.53%.

Insider Activity

In other news, EVP Mark Casper sold 2,500 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total transaction of $282,500.00. Following the completion of the transaction, the executive vice president now owns 24,706 shares of the company’s stock, valued at $2,791,778. This represents a 9.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total transaction of $746,400.00. Following the completion of the transaction, the executive vice president now owns 93,931 shares in the company, valued at approximately $11,685,016.40. This trade represents a 6.00 % 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 over the last 90 days. Insiders own 0.33% of the company’s stock.

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.