Marvell Technology, Inc. (NASDAQ:MRVL) Shares Purchased by Toronto Dominion Bank

Toronto Dominion Bank boosted its position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 18.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 147,803 shares of the semiconductor company's stock after acquiring an additional 22,937 shares during the period. Toronto Dominion Bank's holdings in Marvell Technology were worth $16,325,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Intrepid Financial Planning Group LLC raised its holdings in Marvell Technology by 0.3% during the 4th 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 during the period. PDS Planning Inc raised its stake in Marvell Technology by 3.3% in the fourth quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company's stock valued at $319,000 after buying an additional 92 shares during the period. Lodestone Wealth Management LLC raised its stake in Marvell Technology by 2.0% in the 4th quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company's stock valued at $514,000 after acquiring an additional 93 shares during the period. Valley National Advisers Inc. boosted its position in Marvell Technology by 0.4% during 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 period. Finally, Private Trust Co. NA increased its holdings in shares of Marvell Technology by 2.7% in 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 during the last quarter. 83.51% of the stock is owned by institutional investors.

Marvell Technology Stock Performance

NASDAQ MRVL traded down $3.54 during trading hours on Friday, hitting $60.19. 46,886,682 shares of the company's stock traded hands, compared to its average volume of 14,538,790. The business's fifty day moving average price is $58.96 and its two-hundred day moving average price is $87.09. 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 52 week low of $47.09 and a 52 week high of $127.48. The firm has a market capitalization of $51.99 billion, a P/E ratio of -35.41, a P/E/G ratio of 1.61 and a beta of 1.83.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last released its quarterly earnings data on Thursday, May 29th. The semiconductor company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.61 by $0.01. Marvell Technology had a negative net margin of 27.49% and a positive return on equity of 4.59%. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the prior year, the firm earned $0.24 EPS. The business's revenue was up 63.3% on a year-over-year basis. Equities research analysts predict that Marvell Technology, Inc. will post 0.91 EPS for the current year.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Friday, April 11th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend was Friday, April 11th. Marvell Technology's payout ratio is presently -23.53%.

Insider Activity

In other news, CFO Willem A. Meintjes sold 1,500 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $68.83, for a total value of $103,245.00. Following the sale, the chief financial officer now directly owns 113,592 shares in the company, valued at approximately $7,818,537.36. This trade represents a 1.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark Casper sold 626 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $61.10, for a total transaction of $38,248.60. Following the completion of the sale, the executive vice president now owns 626 shares of the company's stock, valued at approximately $38,248.60. This trade represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,541 shares of company stock valued at $2,079,948. Corporate insiders own 0.33% of the company's stock.

Analyst Ratings Changes

MRVL has been the topic of a number of analyst reports. Stifel Nicolaus reduced their price target on Marvell Technology from $115.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Citigroup decreased their price objective on shares of Marvell Technology from $122.00 to $96.00 and set a "buy" rating for the company in a research report on Friday, April 11th. KeyCorp cut their price target on Marvell Technology from $115.00 to $90.00 and set an "overweight" rating on the stock in a report on Friday. Melius Research downgraded shares of Marvell Technology from a "strong-buy" rating to a "hold" rating and set a $66.00 price objective on the stock. in a report on Thursday, May 22nd. Finally, Cantor Fitzgerald reissued a "neutral" rating and issued a $60.00 target price on shares of Marvell Technology in a research report on Friday. Seven analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Marvell Technology has an average rating of "Moderate Buy" and an average price target of $94.21.

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.