Toronto Dominion Bank Increases Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Toronto Dominion Bank boosted its holdings in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 18.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 147,803 shares of the semiconductor company's stock after acquiring an additional 22,937 shares during the quarter. Toronto Dominion Bank's holdings in Marvell Technology were worth $16,325,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MRVL. Centricity Wealth Management LLC bought a new position in shares of Marvell Technology during the 4th quarter valued at $26,000. Rialto Wealth Management LLC bought a new position in Marvell Technology in the 4th quarter worth $27,000. Financial Life Planners bought a new position in Marvell Technology in the 4th quarter worth $33,000. Lee Danner & Bass Inc. bought a new position in Marvell Technology in the 4th quarter worth $35,000. Finally, GHP Investment Advisors Inc. raised its holdings in Marvell Technology by 48.3% in the 4th quarter. GHP Investment Advisors Inc. now owns 344 shares of the semiconductor company's stock worth $38,000 after purchasing an additional 112 shares during the period. 83.51% of the stock is owned by institutional investors.

Marvell Technology Trading Down 2.1%

MRVL traded down $1.31 on Wednesday, hitting $60.11. The company had a trading volume of 13,992,519 shares, compared to its average volume of 14,133,432. The company has a market cap of $51.92 billion, a PE ratio of -35.36, a PEG ratio of 1.61 and a beta of 1.83. Marvell Technology, Inc. has a 12-month low of $47.09 and a 12-month high of $127.48. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The business's fifty day simple moving average is $59.90 and its 200 day simple moving average is $88.24.

Marvell Technology Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Raymond James set a $110.00 target price on Marvell Technology in a report on Thursday, March 6th. UBS Group decreased their price target on Marvell Technology from $110.00 to $100.00 and set a "buy" rating on the stock in a report on Monday. Melius initiated coverage on Marvell Technology in a report on Monday, January 27th. They set a "buy" rating and a $188.00 price target on the stock. Loop Capital raised Marvell Technology from a "hold" rating to a "buy" rating and set a $110.00 price target on the stock in a report on Thursday, March 6th. Finally, Bank of America decreased their price target on Marvell Technology from $120.00 to $72.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Four equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $110.69.

Insider Buying and Selling at Marvell Technology

In other news, Director Brad W. Buss purchased 3,000 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average price of $69.00 per share, for a total transaction of $207,000.00. Following the completion of the acquisition, the director now owns 87,113 shares of the company's stock, valued at approximately $6,010,797. This trade represents a 3.57% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Mark Casper sold 12,460 shares of the business's stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $55.00, for a total value of $685,300.00. The disclosure for this sale can be found here. Insiders sold 33,541 shares of company stock worth $2,079,948 over the last 90 days. Company insiders own 0.19% of the company's stock.

Marvell Technology Company 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.