Brookstone Capital Management Invests $216,000 in Marvell Technology, Inc. (NASDAQ:MRVL)

Brookstone Capital Management acquired a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,995 shares of the semiconductor company’s stock, valued at approximately $216,000.

Several other hedge funds have also recently added to or reduced their stakes in MRVL. Bruce G. Allen Investments LLC boosted its position in shares of Marvell Technology by 56.4% during the first quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 141 shares in the last quarter. Salomon & Ludwin LLC acquired a new stake in Marvell Technology during the 1st quarter worth $31,000. Strategic Investment Solutions Inc. IL bought a new position in Marvell Technology during the second quarter worth about $32,000. Quarry LP acquired a new position in Marvell Technology in the second quarter valued at about $32,000. Finally, Optimum Investment Advisors bought a new stake in shares of Marvell Technology in the first quarter worth about $35,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Wall Street Analysts Forecast Growth

MRVL has been the topic of several recent analyst reports. KeyCorp lifted their price objective on Marvell Technology from $90.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Morgan Stanley upped their price target on shares of Marvell Technology from $77.00 to $82.00 and gave the company an “equal weight” rating in a report on Friday, August 30th. Barclays increased their price objective on shares of Marvell Technology from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. Evercore ISI upped their target price on shares of Marvell Technology from $91.00 to $98.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. Finally, StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $91.62.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, Director Ford Tamer sold 92,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $74.16, for a total value of $6,822,720.00. Following the transaction, the director now directly owns 351,193 shares in the company, valued at $26,044,472.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Ford Tamer sold 92,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $74.16, for a total transaction of $6,822,720.00. Following the completion of the sale, the director now owns 351,193 shares in the company, valued at $26,044,472.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $66.75, for a total value of $100,125.00. Following the transaction, the chief financial officer now owns 113,253 shares in the company, valued at approximately $7,559,637.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 103,500 shares of company stock valued at $7,650,465 in the last quarter. 0.33% of the stock is currently owned by insiders.

Marvell Technology Stock Performance

Shares of MRVL stock opened at $79.41 on Wednesday. The company has a fifty day moving average price of $70.30 and a two-hundred day moving average price of $69.98. Marvell Technology, Inc. has a one year low of $46.07 and a one year high of $85.76. The stock has a market cap of $68.74 billion, a P/E ratio of -70.27, a P/E/G ratio of 3.17 and a beta of 1.45. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.26.

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

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 11th will be paid a $0.06 dividend. 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 (DPR) is presently -21.24%.

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.