TCTC Holdings LLC Has $127,000 Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

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

A number of other institutional investors and hedge funds have also recently made changes to their positions in MRVL. Zweig DiMenna Associates LLC lifted its holdings in shares of Marvell Technology by 6.3% during the 4th quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock worth $23,583,000 after acquiring an additional 12,700 shares during the period. Berbice Capital Management LLC bought a new stake in shares of Marvell Technology during the 4th quarter worth approximately $637,000. RFG Advisory LLC lifted its holdings in shares of Marvell Technology by 6.2% during the 4th quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock worth $4,708,000 after acquiring an additional 2,507 shares during the period. Braun Stacey Associates Inc. bought a new stake in shares of Marvell Technology during the 3rd quarter worth approximately $16,435,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Marvell Technology by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock worth $235,247,000 after acquiring an additional 66,654 shares during the period. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Trading Up 2.4 %

MRVL opened at $70.40 on Tuesday. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month 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 company has a fifty 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 PE ratio of -41.41, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MRVL. Melius Research raised shares of Marvell Technology to a “strong-buy” rating in a report on Monday, January 27th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Marvell Technology in a report on Thursday, March 6th. 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. Susquehanna increased their price objective on shares of Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a research note on Wednesday, December 4th. Finally, Raymond James set a $110.00 price objective on shares of Marvell Technology in a research note on Thursday, March 6th. Three analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Marvell Technology has an average rating of “Moderate Buy” and a consensus target price of $120.44.

Insider Transactions at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $118.33, for a total value of $177,495.00. Following the completion of the sale, the chief financial officer now directly owns 111,211 shares in the company, valued at approximately $13,159,597.63. This trade represents a 1.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Mark Casper sold 7,755 shares of the firm’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $123.08, for a total transaction of $954,485.40. The disclosure for this sale can be found here. Insiders sold a total of 28,755 shares of company stock worth $3,412,230 over the last three months. 0.33% of the stock is owned by company 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.