TCTC Holdings LLC Acquires 942 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

TCTC Holdings LLC raised its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 448.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,152 shares of the semiconductor company’s stock after buying an additional 942 shares during the period. TCTC Holdings LLC’s holdings in Marvell Technology were worth $127,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Signaturefd LLC lifted its stake in shares of Marvell Technology by 6.1% in the fourth quarter. Signaturefd LLC now owns 12,432 shares of the semiconductor company’s stock valued at $1,373,000 after buying an additional 714 shares in the last quarter. Parallel Advisors LLC lifted its stake in shares of Marvell Technology by 8.2% in the fourth quarter. Parallel Advisors LLC now owns 10,588 shares of the semiconductor company’s stock valued at $1,170,000 after buying an additional 799 shares in the last quarter. SouthState Corp lifted its stake in shares of Marvell Technology by 91.6% in the fourth quarter. SouthState Corp now owns 479 shares of the semiconductor company’s stock valued at $53,000 after buying an additional 229 shares in the last quarter. Addison Capital Co lifted its position in shares of Marvell Technology by 9.0% during the fourth quarter. Addison Capital Co now owns 4,258 shares of the semiconductor company’s stock valued at $470,000 after purchasing an additional 353 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV lifted its position in shares of Marvell Technology by 46.4% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 3,233 shares of the semiconductor company’s stock valued at $357,000 after purchasing an additional 1,025 shares in the last quarter. 83.51% of the stock is owned by institutional investors.

Marvell Technology Price Performance

Shares of NASDAQ:MRVL opened at $70.40 on Tuesday. The company has a 50 day moving average of $102.82 and a 200 day moving average of $93.95. The stock has a market cap of $60.97 billion, a P/E ratio of -41.41, a P/E/G ratio of 1.61 and a beta of 1.42. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month 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.

Insider Activity at Marvell Technology

In other news, Director Brad W. Buss acquired 3,000 shares of Marvell Technology stock in a transaction that occurred on Friday, March 7th. The stock was bought at an average price of $69.00 per share, with a total value of $207,000.00. Following the completion of the purchase, the director now owns 87,113 shares in the company, valued at approximately $6,010,797. The trade was a 3.57 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $118.33, for a total transaction of $177,495.00. Following the transaction, the chief financial officer now directly owns 111,211 shares of the company’s stock, valued at approximately $13,159,597.63. This represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,755 shares of company stock valued at $3,412,230. Corporate insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on MRVL shares. Evercore ISI raised their price target on shares of Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. Citigroup dropped their price target on shares of Marvell Technology from $136.00 to $122.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Summit Insights lowered shares of Marvell Technology from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Piper Sandler dropped their price target on shares of Marvell Technology from $120.00 to $95.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. Finally, Cantor Fitzgerald raised their price target on shares of Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Three equities research 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 stock. Based on data from MarketBeat, Marvell Technology presently has an average rating of “Moderate Buy” and a consensus price target of $120.44.

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.