TD Private Client Wealth LLC Lowers Stock Position in 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 13F filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Intrepid Financial Planning Group LLC boosted its stake in shares of 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 acquiring an additional 90 shares during the last quarter. PDS Planning Inc raised its position in shares of Marvell Technology by 3.3% during the 4th quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company's stock valued at $319,000 after purchasing an additional 92 shares during the period. Tradewinds LLC. raised its position in shares of Marvell Technology by 0.7% during the 4th quarter. Tradewinds LLC. now owns 14,050 shares of the semiconductor company's stock valued at $1,552,000 after purchasing an additional 101 shares during the period. Coldstream Capital Management Inc. raised its position in shares of Marvell Technology by 1.0% during the 4th quarter. Coldstream Capital Management Inc. now owns 11,344 shares of the semiconductor company's stock valued at $1,253,000 after purchasing an additional 116 shares during the period. Finally, Nicolet Advisory Services LLC raised its position in shares of Marvell Technology by 3.1% during the 4th quarter. Nicolet Advisory Services LLC now owns 3,916 shares of the semiconductor company's stock valued at $448,000 after purchasing an additional 118 shares during the period. Institutional investors own 83.51% of the company's stock.

Insider Activity at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of the company'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 sale, the chief financial officer owned 121,348 shares of the company's stock, valued at approximately $8,314,764.96. This represents a 1.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Chris Koopmans sold 6,000 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $65.10, for a total transaction of $390,600.00. Following the completion of the sale, the chief operating officer directly owned 92,065 shares of the company's stock, valued at $5,993,431.50. The trade was a 6.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,394 shares of company stock valued at $1,656,076 in the last quarter. Corporate insiders own 0.33% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. TD Cowen raised their price objective on shares of Marvell Technology from $60.00 to $70.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Benchmark restated a "buy" rating and set a $95.00 price objective on shares of Marvell Technology in a research report on Wednesday, June 18th. Raymond James Financial reiterated an "outperform" rating and issued a $90.00 price target (down from $110.00) on shares of Marvell Technology in a report on Friday, May 30th. Piper Sandler reiterated an "overweight" rating and issued a $85.00 price target (down from $95.00) on shares of Marvell Technology in a report on Friday, May 30th. Finally, Barclays reduced their price target on shares of Marvell Technology from $130.00 to $80.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Six equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $96.33.

Marvell Technology Trading Up 0.4%

Shares of MRVL stock traded up $0.31 during trading hours on Wednesday, reaching $72.26. 18,207,053 shares of the stock were exchanged, compared to its average volume of 15,739,408. 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 1.30, a quick ratio of 0.94 and a debt-to-equity ratio of 0.22. The company's 50-day moving average price is $67.07 and its 200-day moving average price is $81.18. The firm has a market capitalization of $62.42 billion, a price-to-earnings ratio of -126.77, a price-to-earnings-growth ratio of 0.78 and a beta of 1.81.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $1.90 billion during the quarter, compared to analysts' expectations of $1.88 billion. Marvell Technology had a negative net margin of 7.56% and a positive return on equity of 8.42%. The firm's quarterly revenue was up 63.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.24 EPS. As a group, equities analysts anticipate that Marvell Technology, Inc. will post 0.91 earnings per share for the current year.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Friday, July 11th will be given a $0.06 dividend. The ex-dividend date is Friday, July 11th. This represents a $0.24 annualized dividend and a yield of 0.33%. Marvell Technology's dividend payout ratio (DPR) is -42.11%.

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.