TCW Group Inc. Increases Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

TCW Group Inc. increased its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 21.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 303,966 shares of the semiconductor company’s stock after buying an additional 53,641 shares during the period. TCW Group Inc.’s holdings in Marvell Technology were worth $21,922,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in MRVL. True Wealth Design LLC boosted its stake in Marvell Technology by 1,481.8% in the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 326 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in shares of Marvell Technology in the 2nd quarter worth approximately $32,000. Quarry LP purchased a new position in Marvell Technology in the second quarter valued at approximately $32,000. Whittier Trust Co. grew its holdings in Marvell Technology by 74.5% during the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 210 shares during the period. Finally, Goodman Advisory Group LLC purchased a new stake in Marvell Technology in the third quarter worth $37,000. Institutional investors own 83.51% of the company’s stock.

Insiders Place Their Bets

In related news, Director Ford Tamer sold 92,000 shares of Marvell Technology stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $74.16, for a total value of $6,822,720.00. Following the transaction, the director now owns 351,193 shares in the company, valued at $26,044,472.88. This trade represents a 20.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $80.77, for a total transaction of $484,620.00. Following the sale, the executive vice president now owns 109,244 shares of the company’s stock, valued at approximately $8,823,637.88. The trade was a 5.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 267,000 shares of company stock valued at $20,899,260 over the last 90 days. Insiders own 0.33% of the company’s stock.

Marvell Technology Price Performance

Shares of NASDAQ:MRVL opened at $106.68 on Wednesday. Marvell Technology, Inc. has a one year low of $52.89 and a one year high of $119.88. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The firm has a market capitalization of $92.31 billion, a price-to-earnings ratio of -62.75, a PEG ratio of 3.79 and a beta of 1.46. The company’s fifty day moving average price is $87.51 and its 200-day moving average price is $76.04.

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 11th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, October 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.22%. Marvell Technology’s payout ratio is -14.12%.

Analysts Set New Price Targets

A number of research analysts have recently commented on MRVL shares. Citigroup upped their price target on Marvell Technology from $91.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Oppenheimer upped their price objective on shares of Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Morgan Stanley lifted their target price on shares of Marvell Technology from $82.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 4th. The Goldman Sachs Group upped their price target on shares of Marvell Technology from $87.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $120.00 price objective (up from $100.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $119.04.

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.