TD Asset Management Inc Purchases 7,146 Shares of Marvell Technology, Inc. $MRVL

TD Asset Management Inc lifted its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 2.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 271,478 shares of the semiconductor company’s stock after buying an additional 7,146 shares during the period. TD Asset Management Inc’s holdings in Marvell Technology were worth $23,070,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in MRVL. Laurel Wealth Advisors LLC bought a new stake in shares of Marvell Technology in the 4th quarter valued at $25,000. Cherry Tree Wealth Management LLC bought a new stake in shares of Marvell Technology in the 4th quarter valued at $26,000. Elyxium Wealth LLC bought a new stake in shares of Marvell Technology in the 4th quarter valued at $40,000. Strive Asset Management LLC bought a new position in Marvell Technology during the 3rd quarter worth about $42,000. Finally, Avalon Trust Co increased its holdings in Marvell Technology by 70.6% during the 3rd quarter. Avalon Trust Co now owns 650 shares of the semiconductor company’s stock worth $55,000 after purchasing an additional 269 shares in the last quarter. Institutional investors own 83.51% of the company’s stock.

Insider Activity at Marvell Technology

In other news, EVP Mark Casper sold 10,854 shares of the stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $107.01, for a total transaction of $1,161,486.54. Following the completion of the transaction, the executive vice president directly owned 4,023 shares in the company, valued at $430,501.23. This represents a 72.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Chris Koopmans sold 10,000 shares of the stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $110.24, for a total transaction of $1,102,400.00. Following the transaction, the chief operating officer owned 133,870 shares of the company’s stock, valued at approximately $14,757,828.80. This represents a 6.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 255,060 shares of company stock worth $31,959,772. Corporate insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MRVL. Bank of America increased their target price on Marvell Technology from $200.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. B. Riley Financial reiterated a “buy” rating on shares of Marvell Technology in a report on Tuesday, May 12th. JPMorgan Chase & Co. increased their target price on Marvell Technology from $135.00 to $240.00 and gave the stock an “overweight” rating in a report on Thursday, May 28th. Scotiabank began coverage on Marvell Technology in a report on Tuesday, May 26th. They set an “outperform” rating for the company. Finally, Oppenheimer increased their target price on Marvell Technology from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, May 28th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $218.58.

Key Stories Impacting Marvell Technology

Here are the key news stories impacting Marvell Technology this week:

• Positive Sentiment: Raymond James raised its price target on Marvell to $235 from $105 and reiterated a Strong Buy rating, reflecting continued analyst confidence. Raymond James Raises its Price Target on Marvell (MRVL) to $235 from $105
• Neutral Sentiment: Marvell received unusual call-option activity, which may signal trader interest, but it does not by itself change the fundamental outlook.
• Neutral Sentiment: There was ongoing speculation that Marvell could be added to the S&P 500 in an upcoming index rebalancing, which could provide a passive-fund boost if it happens.
• Negative Sentiment: Broader chip stocks sold off after Broadcom’s outlook disappointed Wall Street, dragging MRVL down with the sector. Micron, Marvell, and Broadcom lead chipmakers’ premarket losses
• Negative Sentiment: Several reports warned that Marvell was overbought after its rapid run-up, making it vulnerable to profit-taking and a momentum unwind. Why Is Marvell Technology Stock Falling On Friday?

Marvell Technology Stock Performance

Marvell Technology stock opened at $263.47 on Monday. The firm has a 50-day moving average of $164.84 and a 200-day moving average of $112.76. Marvell Technology, Inc. has a one year low of $61.44 and a one year high of $324.20. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.28 and a quick ratio of 2.66. The company has a market cap of $230.48 billion, a price-to-earnings ratio of 90.23, a P/E/G ratio of 1.72 and a beta of 2.29.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly earnings data on Wednesday, May 27th. The semiconductor company reported $0.80 EPS for the quarter, hitting analysts’ consensus estimates of $0.80. Marvell Technology had a net margin of 28.99% and a return on equity of 13.83%. The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same period in the prior year, the business posted $0.62 EPS. The company’s quarterly revenue was up 27.6% on a year-over-year basis. Marvell Technology has set its Q2 2027 guidance at 0.880-0.980 EPS. On average, equities analysts expect that Marvell Technology, Inc. will post 3.08 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Friday, April 10th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date was Friday, April 10th. Marvell Technology’s dividend payout ratio is currently 8.22%.

Marvell Technology Profile

Marvell Technology Group is a global semiconductor company that designs and develops integrated circuits and related software for data infrastructure, networking, storage and connectivity markets. The company’s product portfolio includes system-on-chip (SoC) solutions, Ethernet physical-layer transceivers (PHYs), switch and switch silicon, optical interconnect components, storage controllers, and security processors. Marvell’s technology is used to enable high-performance data centers, carrier networks, enterprise and cloud storage, as well as connectivity in automotive and industrial applications.

Founded in 1995 and headquartered in Santa Clara, California, Marvell has grown through both organic development and strategic acquisitions to broaden its capabilities across networking and data interconnect.