Townsquare Capital LLC Has $1.41 Million Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Townsquare Capital LLC grew its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 9.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 12,731 shares of the semiconductor company’s stock after acquiring an additional 1,062 shares during the quarter. Townsquare Capital LLC’s holdings in Marvell Technology were worth $1,406,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Zweig DiMenna Associates LLC increased its holdings in Marvell Technology by 6.3% in the fourth quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock worth $23,583,000 after buying an additional 12,700 shares during the last quarter. Berbice Capital Management LLC bought a new stake in Marvell Technology in the fourth quarter worth approximately $637,000. RFG Advisory LLC grew its position in Marvell Technology by 6.2% in the fourth quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock worth $4,708,000 after acquiring an additional 2,507 shares in the last quarter. Franchise Capital Ltd acquired a new position in shares of Marvell Technology during the 4th quarter worth $1,476,000. Finally, United Asset Strategies Inc. raised its holdings in shares of Marvell Technology by 7.1% during the 4th quarter. United Asset Strategies Inc. now owns 219,888 shares of the semiconductor company’s stock valued at $24,287,000 after purchasing an additional 14,547 shares in the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MRVL. Piper Sandler decreased their price objective on shares of Marvell Technology from $120.00 to $95.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. Citigroup lowered their price objective on Marvell Technology from $122.00 to $96.00 and set a “buy” rating on the stock in a report on Friday, April 11th. Wells Fargo & Company restated an “overweight” rating on shares of Marvell Technology in a report on Thursday, March 6th. Melius started coverage on Marvell Technology in a research report on Monday, January 27th. They set a “buy” rating and a $188.00 target price for the company. Finally, Stifel Nicolaus dropped their price target on shares of Marvell Technology from $115.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday. Three analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $116.41.

Marvell Technology Stock Performance

Shares of NASDAQ MRVL opened at $51.70 on Friday. Marvell Technology, Inc. has a one year low of $47.09 and a one year high of $127.48. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The business has a fifty day simple moving average of $74.86 and a 200 day simple moving average of $91.36. The firm has a market capitalization of $44.78 billion, a price-to-earnings ratio of -30.41, a PEG ratio of 1.61 and a beta of 1.78.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Friday, April 11th. Marvell Technology’s payout ratio is -23.53%.

Insider Activity

In other Marvell Technology news, CAO Panteha Dixon sold 1,430 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $68.75, for a total value of $98,312.50. Following the sale, the chief accounting officer now directly owns 31,100 shares in the company, valued at $2,138,125. This represents a 4.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total value of $746,400.00. Following the transaction, the executive vice president now owns 93,931 shares of the company’s stock, valued at $11,685,016.40. This represents a 6.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,930 shares of company stock worth $1,999,038. Corporate insiders own 0.33% of the company’s stock.

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.