Brooklyn Investment Group Invests $278,000 in Marvell Technology, Inc. (NASDAQ:MRVL)

Brooklyn Investment Group bought a new position in Marvell Technology, Inc. (NASDAQ:MRVL) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 3,797 shares of the semiconductor company’s stock, valued at approximately $278,000.

Other institutional investors have also recently made changes to their positions in the company. Bruce G. Allen Investments LLC lifted its holdings in shares of Marvell Technology by 56.4% in the 1st quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 141 shares during the last quarter. SJS Investment Consulting Inc. lifted its holdings in Marvell Technology by 56.8% during the 4th quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 155 shares in the last quarter. Salomon & Ludwin LLC bought a new stake in Marvell Technology during the 1st quarter valued at about $31,000. Optimum Investment Advisors bought a new stake in Marvell Technology during the 1st quarter valued at about $35,000. Finally, Oliver Lagore Vanvalin Investment Group lifted its holdings in Marvell Technology by 46.2% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 522 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 165 shares in the last quarter. Institutional investors own 83.51% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on MRVL shares. Needham & Company LLC reiterated a “buy” rating and issued a $95.00 price target on shares of Marvell Technology in a report on Friday, May 31st. StockNews.com lowered shares of Marvell Technology from a “hold” rating to a “sell” rating in a research report on Wednesday, May 15th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $85.00 price objective on shares of Marvell Technology in a research report on Friday, May 31st. Roth Mkm reissued a “buy” rating and set a $95.00 target price on shares of Marvell Technology in a research report on Friday, April 12th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $90.00 price target (up from $80.00) on shares of Marvell Technology in a report on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $85.24.

Insider Buying and Selling

In other Marvell Technology news, insider Muhammad Raghib Hussain sold 50,000 shares of the stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $75.00, for a total value of $3,750,000.00. Following the sale, the insider now owns 838,571 shares of the company’s stock, valued at approximately $62,892,825. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Muhammad Raghib Hussain sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $75.00, for a total transaction of $3,750,000.00. Following the transaction, the insider now owns 838,571 shares in the company, valued at approximately $62,892,825. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Chris Koopmans sold 5,000 shares of Marvell Technology stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $71.25, for a total value of $356,250.00. Following the completion of the transaction, the executive vice president now owns 109,117 shares in the company, valued at $7,774,586.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 131,000 shares of company stock valued at $9,357,740. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology Price Performance

NASDAQ MRVL traded up $1.47 on Friday, hitting $73.59. The company had a trading volume of 10,190,798 shares, compared to its average volume of 9,277,736. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.80 and a quick ratio of 1.24. The company’s fifty day moving average price is $71.58 and its 200-day moving average price is $69.29. The company has a market capitalization of $63.70 billion, a PE ratio of -65.12, a PEG ratio of 3.42 and a beta of 1.47. Marvell Technology, Inc. has a 12-month low of $46.07 and a 12-month high of $85.76.

Marvell Technology (NASDAQ:MRVL) last released its quarterly earnings results on Thursday, May 30th. The semiconductor company reported $0.24 earnings per share for the quarter, hitting the consensus estimate of $0.24. Marvell Technology had a negative net margin of 18.33% and a positive return on equity of 4.51%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the prior year, the firm earned $0.17 EPS. The company’s revenue for the quarter was down 12.2% on a year-over-year basis. As a group, analysts predict that Marvell Technology, Inc. will post 0.75 earnings per share for the current year.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, July 12th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.33%. The ex-dividend date is Friday, July 12th. Marvell Technology’s dividend payout ratio (DPR) is presently -21.24%.

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.