TD Private Client Wealth LLC Sells 8,555 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

TD Private Client Wealth LLC lessened its holdings in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 26.9% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,288 shares of the semiconductor company's stock after selling 8,555 shares during the period. TD Private Client Wealth LLC's holdings in Marvell Technology were worth $1,434,000 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. Intrepid Financial Planning Group LLC increased its stake in 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 valued at $2,860,000 after acquiring an additional 90 shares during the last quarter. PDS Planning Inc increased 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 acquiring an additional 92 shares during the last quarter. Tradewinds LLC. increased its stake in Marvell Technology by 0.7% in the fourth quarter. Tradewinds LLC. now owns 14,050 shares of the semiconductor company's stock valued at $1,552,000 after acquiring an additional 101 shares during the last quarter. Coldstream Capital Management Inc. increased its stake in Marvell Technology by 1.0% in the fourth quarter. Coldstream Capital Management Inc. now owns 11,344 shares of the semiconductor company's stock valued at $1,253,000 after acquiring an additional 116 shares during the last quarter. Finally, Nicolet Advisory Services LLC increased its stake in Marvell Technology by 3.1% in the fourth quarter. Nicolet Advisory Services LLC now owns 3,916 shares of the semiconductor company's stock valued at $448,000 after acquiring an additional 118 shares during the last quarter. Hedge funds and other institutional investors own 83.51% of the company's stock.

Insider Buying and Selling at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of the business's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $68.52, for a total value of $102,780.00. Following the completion of the transaction, the chief financial officer directly owned 121,348 shares in the company, valued at $8,314,764.96. The trade was a 1.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Panteha Dixon sold 1,286 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $65.00, for a total transaction of $83,590.00. Following the completion of the transaction, the chief accounting officer owned 32,094 shares of the company's stock, valued at approximately $2,086,110. The trade was a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,394 shares of company stock valued at $1,656,076 over the last ninety days. Company insiders own 0.19% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Wells Fargo & Company reduced their target price on Marvell Technology from $120.00 to $95.00 and set an "overweight" rating on the stock in a research note on Friday, May 30th. Benchmark reaffirmed a "buy" rating and set a $95.00 price objective on shares of Marvell Technology in a research note on Wednesday, June 18th. Wall Street Zen raised Marvell Technology from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Melius Research raised their price objective on Marvell Technology from $67.00 to $76.00 and gave the company a "hold" rating in a research note on Wednesday, June 18th. Finally, Evercore ISI reduced their price objective on Marvell Technology from $135.00 to $133.00 and set an "outperform" rating on the stock in a research note on Friday, May 30th. Seven equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $94.47.

Marvell Technology Stock Up 1.5%

MRVL traded up $1.10 on Thursday, hitting $73.36. The company had a trading volume of 11,505,300 shares, compared to its average volume of 15,778,684. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.30 and a quick ratio of 0.94. Marvell Technology, Inc. has a 52-week low of $47.09 and a 52-week high of $127.48. The stock has a fifty day simple moving average of $67.59 and a 200-day simple moving average of $80.84. The firm has a market capitalization of $63.37 billion, a P/E ratio of -128.70, a P/E/G ratio of 0.78 and a beta of 1.81.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last released its earnings results on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.01. Marvell Technology had a negative net margin of 7.56% and a positive return on equity of 8.42%. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period last year, the business earned $0.24 earnings per share. The business's revenue was up 63.3% on a year-over-year basis. As a group, equities analysts expect that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, July 11th will be issued a dividend of $0.06 per share. The ex-dividend date is Friday, July 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.33%. Marvell Technology's payout ratio is -42.11%.

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.