TCW Group Inc. Has $60.24 Million Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

TCW Group Inc. lifted its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 79.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 545,404 shares of the semiconductor company’s stock after acquiring an additional 241,438 shares during the quarter. TCW Group Inc. owned approximately 0.06% of Marvell Technology worth $60,240,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. State Street Corp boosted its holdings in shares of Marvell Technology by 0.3% during the 3rd quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock valued at $1,438,336,000 after acquiring an additional 68,893 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Marvell Technology by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 11,388,139 shares of the semiconductor company’s stock worth $818,916,000 after buying an additional 219,692 shares during the period. Wellington Management Group LLP lifted its holdings in Marvell Technology by 4.3% during the 3rd quarter. Wellington Management Group LLP now owns 8,694,320 shares of the semiconductor company’s stock worth $627,034,000 after buying an additional 359,005 shares during the period. Van ECK Associates Corp lifted its holdings in Marvell Technology by 26.6% during the 3rd quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock worth $538,868,000 after buying an additional 1,570,050 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in Marvell Technology by 14.0% during the 4th quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company’s stock worth $518,435,000 after buying an additional 571,005 shares during the period. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $183,750.00. Following the transaction, the chief financial officer now owns 112,711 shares in the company, valued at approximately $13,807,097.50. This represents a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total value of $746,400.00. Following the completion of the transaction, the executive vice president now directly owns 93,931 shares of the company’s stock, valued at $11,685,016.40. The trade was a 6.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,255 shares of company stock valued at $4,330,980. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology Stock Performance

Shares of Marvell Technology stock opened at $103.85 on Friday. 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 business has a 50-day simple moving average of $113.59 and a 200 day simple moving average of $92.25. The firm has a market capitalization of $89.86 billion, a price-to-earnings ratio of -61.09, a PEG ratio of 1.61 and a beta of 1.40. Marvell Technology, Inc. has a one year low of $53.19 and a one year high of $127.48.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology’s dividend payout ratio is currently -14.12%.

Analyst Upgrades and Downgrades

MRVL has been the topic of several recent research reports. Citigroup lifted their target price on Marvell Technology from $91.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Oppenheimer lifted their target price on Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. lifted their target price on Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Needham & Company LLC lifted their target price on Marvell Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Rosenblatt Securities lifted their price objective on Marvell Technology from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. 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 stock. According to data from MarketBeat, Marvell Technology currently has an average rating of “Moderate Buy” and an average price target of $127.60.

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.