Teacher Retirement System of Texas Acquires 45,296 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Teacher Retirement System of Texas raised its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 781.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,092 shares of the semiconductor company’s stock after buying an additional 45,296 shares during the period. Teacher Retirement System of Texas’ holdings in Marvell Technology were worth $5,643,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently modified their holdings of the company. True Wealth Design LLC increased its holdings in Marvell Technology by 1,481.8% during the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 326 shares during the period. ORG Partners LLC increased its position in Marvell Technology by 175.3% during the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 149 shares in the last quarter. Centricity Wealth Management LLC purchased a new stake in shares of Marvell Technology during the fourth quarter worth about $26,000. Rialto Wealth Management LLC purchased a new stake in Marvell Technology during the 4th quarter worth approximately $27,000. Finally, Kieckhefer Group LLC acquired a new position in shares of Marvell Technology in the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MRVL. Oppenheimer increased their price objective on shares of Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Wells Fargo & Company restated an “overweight” rating on shares of Marvell Technology in a research report on Thursday, March 6th. StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a research report on Thursday, January 9th. TD Cowen dropped their price target on Marvell Technology from $125.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Finally, Bank of America dropped their price objective on shares of Marvell Technology from $150.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Marvell Technology has a consensus rating of “Moderate Buy” and an average price target of $120.44.

Marvell Technology Trading Down 0.1 %

MRVL opened at $70.39 on Monday. Marvell Technology, Inc. has a 52-week low of $53.19 and a 52-week 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 firm has a market capitalization of $60.96 billion, a P/E ratio of -41.41, a P/E/G ratio of 1.61 and a beta of 1.42. The firm’s 50 day moving average is $99.06 and its 200-day moving average is $93.85.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders 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 dividend yield of 0.34%. Marvell Technology’s dividend payout ratio (DPR) is presently -23.53%.

Insider Buying and Selling

In other Marvell Technology news, CAO Panteha Dixon sold 1,430 shares of the business’s 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 owns 31,100 shares in the company, valued at $2,138,125. The trade was a 4.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total transaction of $746,400.00. Following the completion of the transaction, the executive vice president now directly owns 93,931 shares of the company’s stock, valued at $11,685,016.40. This trade represents a 6.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,685 shares of company stock worth $4,026,768. Corporate insiders own 0.33% of the company’s stock.

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.