Rockefeller Capital Management L.P. Grows Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Rockefeller Capital Management L.P. raised its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 12.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,022 shares of the semiconductor company’s stock after purchasing an additional 5,765 shares during the period. Rockefeller Capital Management L.P.’s holdings in Marvell Technology were worth $5,635,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of MRVL. M&T Bank Corp boosted its stake in Marvell Technology by 0.5% during the third quarter. M&T Bank Corp now owns 87,005 shares of the semiconductor company’s stock worth $6,275,000 after buying an additional 448 shares during the period. Pine Valley Investments Ltd Liability Co boosted its stake in shares of Marvell Technology by 8.0% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 23,799 shares of the semiconductor company’s stock worth $1,716,000 after purchasing an additional 1,773 shares during the period. World Investment Advisors LLC grew its holdings in Marvell Technology by 1.4% during the 3rd quarter. World Investment Advisors LLC now owns 40,366 shares of the semiconductor company’s stock valued at $2,911,000 after purchasing an additional 560 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Marvell Technology in the third quarter worth about $3,432,000. Finally, Synovus Financial Corp boosted its position in shares of Marvell Technology by 60.5% during the third quarter. Synovus Financial Corp now owns 6,489 shares of the semiconductor company’s stock valued at $468,000 after buying an additional 2,445 shares during the period. 83.51% of the stock is owned by institutional investors.

Marvell Technology Stock Performance

Shares of MRVL stock opened at $51.70 on Friday. 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 company has a market cap of $44.78 billion, a PE ratio of -30.41, a PEG ratio of 1.61 and a beta of 1.78. Marvell Technology, Inc. has a 12-month low of $47.09 and a 12-month high of $127.48. The business’s fifty day simple moving average is $74.86 and its 200-day simple moving average is $91.36.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Friday, April 11th. Marvell Technology’s dividend payout ratio (DPR) is presently -23.53%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Craig Hallum increased their price target on Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Citigroup decreased their target price on Marvell Technology from $122.00 to $96.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Needham & Company LLC reduced their price target on shares of Marvell Technology from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Barclays decreased their price objective on shares of Marvell Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. Finally, Roth Capital set a $100.00 target price on shares of Marvell Technology in a research note on Thursday, March 6th. Three research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $116.41.

Insiders Place Their Bets

In other news, CAO Panteha Dixon sold 1,430 shares of Marvell Technology stock in a transaction on Monday, March 17th. The shares were sold at an average price of $68.75, for a total transaction of $98,312.50. Following the completion of the sale, the chief accounting officer now directly owns 31,100 shares in the company, valued at approximately $2,138,125. The trade was a 4.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Brad W. Buss bought 3,000 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average cost of $69.00 per share, for a total transaction of $207,000.00. Following the completion of the transaction, the director now owns 87,113 shares in the company, valued at $6,010,797. This trade represents a 3.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 20,930 shares of company stock valued at $1,999,038. 0.33% of the stock is currently owned by corporate insiders.

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.