TCW Group Inc. Raises Position in Marvell Technology, Inc. (NASDAQ:MRVL)

TCW Group Inc. increased its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 79.4% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 545,404 shares of the semiconductor company’s stock after buying an additional 241,438 shares during the period. TCW Group Inc.’s holdings in Marvell Technology were worth $60,240,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. First Horizon Advisors Inc. raised its position in shares of Marvell Technology by 20.2% in the fourth quarter. First Horizon Advisors Inc. now owns 2,037 shares of the semiconductor company’s stock worth $225,000 after buying an additional 343 shares in the last quarter. Olympiad Research LP purchased a new stake in shares of Marvell Technology in the fourth quarter worth $325,000. Pinnacle Financial Partners Inc raised its position in shares of Marvell Technology by 2.8% in the fourth quarter. Pinnacle Financial Partners Inc now owns 137,170 shares of the semiconductor company’s stock worth $15,150,000 after buying an additional 3,783 shares in the last quarter. Callan Capital LLC purchased a new stake in Marvell Technology during the fourth quarter valued at about $500,000. Finally, Centricity Wealth Management LLC purchased a new stake in Marvell Technology during the fourth quarter valued at about $26,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $183,750.00. Following the sale, the chief financial officer now directly owns 112,711 shares of the company’s stock, valued at approximately $13,807,097.50. The trade was a 1.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Mark Casper sold 7,755 shares of Marvell Technology stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $123.08, for a total transaction of $954,485.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,255 shares of company stock valued at $4,330,980. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MRVL. Susquehanna raised their price target on Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a research report on Wednesday, December 4th. Evercore ISI raised their price target on Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. Bank of America raised their price target on Marvell Technology from $108.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. UBS Group raised their price target on Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, Citigroup raised their price target on Marvell Technology from $91.00 to $112.00 and gave the company 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 issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $127.60.

Marvell Technology Stock Down 4.5 %

NASDAQ MRVL 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 stock has a market capitalization of $89.86 billion, a PE ratio of -61.09, a PEG ratio of 1.61 and a beta of 1.40. Marvell Technology, Inc. has a 1 year low of $53.19 and a 1 year high of $127.48. The business’s 50-day moving average is $113.59 and its 200 day moving average is $92.25.

Marvell Technology Dividend Announcement

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

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.