TD Waterhouse Canada Inc. Sells 6,151 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

TD Waterhouse Canada Inc. decreased its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 4.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 145,567 shares of the semiconductor company’s stock after selling 6,151 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Marvell Technology were worth $16,078,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in MRVL. ORG Partners LLC boosted its holdings in Marvell Technology by 175.3% in the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 149 shares during the period. Centricity Wealth Management LLC bought a new stake in Marvell Technology in the 4th quarter worth approximately $26,000. Rialto Wealth Management LLC purchased a new stake in shares of Marvell Technology in the 4th quarter valued at $27,000. Kieckhefer Group LLC purchased a new position in shares of Marvell Technology in the fourth quarter worth about $33,000. Finally, Financial Life Planners purchased a new position in Marvell Technology in the 4th quarter worth approximately $33,000. Institutional investors own 83.51% of the company’s stock.

Insider Activity at Marvell Technology

In other news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology 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 transaction, the executive vice president now directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Panteha Dixon sold 1,430 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $68.75, for a total transaction of $98,312.50. Following the completion of the transaction, the chief accounting officer now owns 31,100 shares of the company’s stock, valued at $2,138,125. This represents a 4.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,930 shares of company stock worth $1,999,038 in the last 90 days. 0.33% of the stock is owned by corporate insiders.

Marvell Technology Price Performance

MRVL stock opened at $49.38 on Tuesday. The stock has a market cap of $42.77 billion, a PE ratio of -29.05, a P/E/G ratio of 1.61 and a beta of 1.78. The company has a 50-day moving average price of $72.60 and a 200 day moving average price of $91.34. Marvell Technology, Inc. has a 12 month low of $47.09 and a 12 month high of $127.48. 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 Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Morgan Stanley dropped their target price on shares of Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating for the company in a report on Thursday, March 6th. Benchmark reaffirmed a “buy” rating and set a $135.00 price objective on shares of Marvell Technology in a research report on Thursday, March 6th. Citigroup decreased their target price on Marvell Technology from $122.00 to $96.00 and set a “buy” rating for the company in a research report on Friday, April 11th. The Goldman Sachs Group boosted their target price on shares of Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Finally, Raymond James set a $110.00 price objective on Marvell Technology in a research note on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Marvell Technology presently has an average rating of “Moderate Buy” and an average target price of $116.41.

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.