Marvell Technology, Inc. (NASDAQ:MRVL) Stake Lifted by MML Investors Services LLC

MML Investors Services LLC boosted its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 6.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 154,624 shares of the semiconductor company’s stock after purchasing an additional 9,657 shares during the quarter. MML Investors Services LLC’s holdings in Marvell Technology were worth $17,078,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Zweig DiMenna Associates LLC grew its position in Marvell Technology by 6.3% in the fourth quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock worth $23,583,000 after buying an additional 12,700 shares during the last quarter. Berbice Capital Management LLC purchased a new position in Marvell Technology during the fourth quarter valued at approximately $637,000. RFG Advisory LLC increased its stake in shares of Marvell Technology by 6.2% in the fourth 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. Franchise Capital Ltd bought a new stake in shares of Marvell Technology in the 4th quarter valued at approximately $1,476,000. Finally, United Asset Strategies Inc. increased its stake in shares of Marvell Technology by 7.1% during the 4th quarter. United Asset Strategies Inc. now owns 219,888 shares of the semiconductor company’s stock worth $24,287,000 after purchasing an additional 14,547 shares during the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total value of $746,400.00. Following the transaction, the executive vice president now owns 93,931 shares in the company, valued at $11,685,016.40. The trade was a 6.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Panteha Dixon sold 1,430 shares of the firm’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 transaction of $98,312.50. Following the completion of the sale, the chief accounting officer now owns 31,100 shares in the company, valued at approximately $2,138,125. The trade was a 4.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,930 shares of company stock worth $1,999,038. 0.33% of the stock is currently owned by corporate insiders.

Marvell Technology Price Performance

Marvell Technology stock opened at $49.38 on Tuesday. The stock’s fifty day moving average price is $72.60 and its two-hundred day moving average price is $91.34. The firm has a market cap of $42.77 billion, a PE ratio of -29.05, a price-to-earnings-growth ratio of 1.61 and a beta of 1.78. 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 one year low of $47.09 and a one year high of $127.48.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.49%. The ex-dividend date is Friday, April 11th. Marvell Technology’s dividend payout ratio is currently -23.53%.

Analyst Ratings Changes

A number of brokerages have recently commented on MRVL. Loop Capital raised Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 price objective on the stock in a report on Thursday, March 6th. Bank of America decreased their price objective on shares of Marvell Technology from $120.00 to $72.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. Piper Sandler cut their target price on shares of Marvell Technology from $120.00 to $95.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. Benchmark reissued a “buy” rating and set a $135.00 price objective on shares of Marvell Technology in a research report on Thursday, March 6th. Finally, StockNews.com raised Marvell Technology from a “sell” rating to a “hold” rating in a report on Thursday, January 9th. Three investment 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. According to data from MarketBeat.com, Marvell Technology has a consensus rating of “Moderate Buy” and an average price target of $116.41.

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.