Rockefeller Capital Management L.P. Increases Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Rockefeller Capital Management L.P. grew its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 12.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 51,022 shares of the semiconductor company’s stock after purchasing an additional 5,765 shares during the period. Rockefeller Capital Management L.P.’s holdings in Marvell Technology were worth $5,635,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Intrepid Financial Planning Group LLC lifted its stake in shares of Marvell Technology by 0.3% in the fourth quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company’s stock worth $2,860,000 after buying an additional 90 shares in the last quarter. PDS Planning Inc boosted its stake in Marvell Technology by 3.3% during the 4th quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company’s stock valued at $319,000 after purchasing an additional 92 shares during the last quarter. Lodestone Wealth Management LLC increased its holdings in shares of Marvell Technology by 2.0% in the 4th quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company’s stock worth $514,000 after purchasing an additional 93 shares in the last quarter. Valley National Advisers Inc. raised its stake in shares of Marvell Technology by 0.4% in the fourth quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company’s stock worth $2,775,000 after purchasing an additional 96 shares during the last quarter. Finally, Private Trust Co. NA lifted its holdings in shares of Marvell Technology by 2.7% during the fourth quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company’s stock valued at $414,000 after purchasing an additional 97 shares in the last quarter. 83.51% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, COO Chris Koopmans sold 6,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $106.35, for a total transaction of $638,100.00. Following the completion of the transaction, the chief operating officer now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Panteha Dixon sold 1,430 shares of Marvell Technology stock in a transaction that occurred 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 in the company, valued at approximately $2,138,125. The trade was a 4.40 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,930 shares of company stock worth $1,999,038. 0.33% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently commented on MRVL. Raymond James set a $110.00 price objective on Marvell Technology in a report on Thursday, March 6th. Stifel Nicolaus decreased their price objective on shares of Marvell Technology from $115.00 to $80.00 and set a “buy” rating for the company in a report on Thursday. Loop Capital upgraded shares of Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 target price on the stock in a report on Thursday, March 6th. Barclays decreased their target price on shares of Marvell Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, March 6th. Finally, Melius Research upgraded Marvell Technology to a “strong-buy” rating in a research note on Monday, January 27th. Three equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $116.41.

Marvell Technology Stock Down 0.4 %

Shares of MRVL opened at $51.70 on Friday. The business’s 50 day moving average is $74.86 and its 200 day moving average is $91.36. 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 12-month low of $47.09 and a 12-month high of $127.48. The company has a market capitalization of $44.78 billion, a PE ratio of -30.41, a price-to-earnings-growth ratio of 1.61 and a beta of 1.78.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Friday, April 11th. Marvell Technology’s dividend payout ratio (DPR) is presently -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.