2,995 Shares in Marvell Technology, Inc. (NASDAQ:MRVL) Bought by Brookstone Capital Management

Brookstone Capital Management bought a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,995 shares of the semiconductor company’s stock, valued at approximately $216,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Centaurus Financial Inc. boosted its position in Marvell Technology by 6.1% during the fourth quarter. Centaurus Financial Inc. now owns 4,513 shares of the semiconductor company’s stock worth $272,000 after purchasing an additional 260 shares during the period. Syon Capital LLC acquired a new position in Marvell Technology in the 4th quarter valued at $217,000. American International Group Inc. raised its holdings in Marvell Technology by 1.5% in the 4th quarter. American International Group Inc. now owns 66,986 shares of the semiconductor company’s stock worth $4,040,000 after acquiring an additional 993 shares during the period. ICA Group Wealth Management LLC acquired a new position in Marvell Technology during the 4th quarter worth $141,000. Finally, PNC Financial Services Group Inc. boosted its holdings in Marvell Technology by 5.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 60,016 shares of the semiconductor company’s stock valued at $3,620,000 after acquiring an additional 3,109 shares during the period. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Stock Performance

NASDAQ:MRVL opened at $79.41 on Wednesday. The stock has a market capitalization of $68.74 billion, a P/E ratio of -70.27, a price-to-earnings-growth ratio of 3.17 and a beta of 1.45. The company has a current ratio of 1.79, a quick ratio of 1.26 and a debt-to-equity ratio of 0.28. Marvell Technology, Inc. has a 1 year low of $46.07 and a 1 year high of $85.76. The firm has a 50 day moving average of $70.30 and a 200-day moving average of $69.98.

Marvell Technology (NASDAQ:MRVL) last issued its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.25 billion. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 EPS. As a group, sell-side analysts anticipate that Marvell Technology, Inc. will post 0.78 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 11th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date is Friday, October 11th. Marvell Technology’s dividend payout ratio is currently -21.24%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on MRVL shares. Benchmark increased their target price on Marvell Technology from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Morgan Stanley increased their price objective on Marvell Technology from $77.00 to $82.00 and gave the company an “equal weight” rating in a research report on Friday, August 30th. Bank of America boosted their target price on shares of Marvell Technology from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. The Goldman Sachs Group upped their price objective on shares of Marvell Technology from $77.00 to $87.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Finally, Rosenblatt Securities boosted their price target on Marvell Technology from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Two analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.62.

Insider Buying and Selling at Marvell Technology

In other news, Director Ford Tamer sold 92,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $74.16, for a total transaction of $6,822,720.00. Following the transaction, the director now directly owns 351,193 shares in the company, valued at approximately $26,044,472.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Matthew J. Murphy sold 6,000 shares of Marvell Technology stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $73.29, for a total value of $439,740.00. Following the completion of the sale, the chief executive officer now directly owns 208,915 shares in the company, valued at $15,311,380.35. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ford Tamer sold 92,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $74.16, for a total value of $6,822,720.00. Following the sale, the director now directly owns 351,193 shares of the company’s stock, valued at $26,044,472.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 103,500 shares of company stock worth $7,650,465. 0.33% of the stock is currently owned by corporate insiders.

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.