Brooklyn Investment Group Purchases 526 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Brooklyn Investment Group lifted its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 13.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,323 shares of the semiconductor company’s stock after buying an additional 526 shares during the period. Brooklyn Investment Group’s holdings in Marvell Technology were worth $312,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Citizens Financial Group Inc. RI boosted its stake in shares of Marvell Technology by 1.5% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 7,842 shares of the semiconductor company’s stock worth $566,000 after buying an additional 116 shares during the last quarter. Crumly & Associates Inc. increased its holdings in Marvell Technology by 1.5% during the third quarter. Crumly & Associates Inc. now owns 8,223 shares of the semiconductor company’s stock worth $593,000 after buying an additional 121 shares during the last quarter. United Capital Management of KS Inc. raised its position in Marvell Technology by 0.4% during the third quarter. United Capital Management of KS Inc. now owns 34,251 shares of the semiconductor company’s stock worth $2,470,000 after acquiring an additional 131 shares in the last quarter. Tlwm raised its position in Marvell Technology by 1.6% during the second quarter. Tlwm now owns 8,598 shares of the semiconductor company’s stock worth $601,000 after acquiring an additional 136 shares in the last quarter. Finally, ASB Consultores LLC lifted its stake in Marvell Technology by 3.8% in the third quarter. ASB Consultores LLC now owns 3,824 shares of the semiconductor company’s stock valued at $276,000 after acquiring an additional 140 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Bank of America boosted their price objective on shares of Marvell Technology from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Wells Fargo & Company boosted their price target on Marvell Technology from $90.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday. TD Cowen raised Marvell Technology to a “strong-buy” rating in a research report on Monday, September 16th. Loop Capital assumed coverage on Marvell Technology in a report on Monday, November 11th. They set a “hold” rating and a $95.00 target price on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $85.00 price target on shares of Marvell Technology in a research note on Friday, August 30th. Three research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Marvell Technology has a consensus rating of “Moderate Buy” and an average price target of $93.43.

Insider Transactions at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $89.14, for a total transaction of $133,710.00. Following the sale, the chief financial officer now directly owns 114,211 shares of the company’s stock, valued at approximately $10,180,768.54. The trade was a 1.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $534,840.00. Following the transaction, the executive vice president now owns 103,244 shares of the company’s stock, valued at approximately $9,203,170.16. This represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 267,000 shares of company stock valued at $20,899,260. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology Trading Up 1.0 %

MRVL stock opened at $93.14 on Wednesday. Marvell Technology, Inc. has a 52 week low of $50.35 and a 52 week high of $95.55. The business has a 50-day simple moving average of $81.05 and a 200 day simple moving average of $73.76. The company has a quick ratio of 1.26, a current ratio of 1.79 and a debt-to-equity ratio of 0.28.

Marvell Technology (NASDAQ:MRVL) last issued its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, meeting the consensus estimate of $0.30. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.18 EPS. Equities research analysts predict that Marvell Technology, Inc. will post 0.78 EPS for the current fiscal year.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 11th were paid a $0.06 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.26%. Marvell Technology’s payout ratio is -21.62%.

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.