Brookwood Investment Group LLC Acquires New Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Key Points

• Brookwood Investment Group LLC has acquired a new stake in Marvell Technology, purchasing 6,266 shares valued at approximately $386,000 in the 1st quarter.
• Marvell Technology has seen multiple institutional investors increase or initiate positions, with over 83.51% of its stock now owned by hedge funds and other institutional stakeholders.
• Brokerages have varied views on Marvell Technology, with recent price targets ranging from $70.00 to $90.00, while the stock currently holds a consensus rating of "Moderate Buy" with a target price of $94.47.

Brookwood Investment Group LLC acquired a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 6,266 shares of the semiconductor company's stock, valued at approximately $386,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of MRVL. Bank Pictet & Cie Europe AG raised its holdings in Marvell Technology by 0.7% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 66,710 shares of the semiconductor company's stock worth $7,368,000 after buying an additional 460 shares during the period. Congress Wealth Management LLC DE acquired a new stake in Marvell Technology during the 4th quarter worth about $1,234,000. EntryPoint Capital LLC acquired a new stake in Marvell Technology during the 4th quarter worth about $306,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Marvell Technology by 10.2% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 709,998 shares of the semiconductor company's stock worth $83,908,000 after buying an additional 65,922 shares during the period. Finally, NEOS Investment Management LLC increased its holdings in shares of Marvell Technology by 20.8% in the 4th quarter. NEOS Investment Management LLC now owns 61,612 shares of the semiconductor company's stock valued at $6,805,000 after purchasing an additional 10,600 shares during the period. Institutional investors and hedge funds own 83.51% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on MRVL shares. Evercore ISI dropped their target price on Marvell Technology from $135.00 to $133.00 and set an "outperform" rating on the stock in a report on Friday, May 30th. Cantor Fitzgerald upped their target price on Marvell Technology from $60.00 to $75.00 and gave the company a "neutral" rating in a report on Wednesday, June 18th. Raymond James Financial reiterated an "outperform" rating and issued a $90.00 target price (down previously from $110.00) on shares of Marvell Technology in a report on Friday, May 30th. Loop Capital dropped their target price on Marvell Technology from $110.00 to $90.00 and set a "buy" rating on the stock in a report on Friday, May 30th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Marvell Technology from $100.00 to $85.00 and set a "buy" rating on the stock in a report on Friday, May 30th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $94.47.

Insider Buying and Selling

In other news, COO Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $65.10, for a total value of $390,600.00. Following the completion of the transaction, the chief operating officer directly owned 92,065 shares in the company, valued at approximately $5,993,431.50. The trade was a 6.12% 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, EVP Mark Casper sold 3,000 shares of Marvell Technology stock in a transaction on Friday, July 18th. The shares were sold at an average price of $72.35, for a total value of $217,050.00. Following the completion of the transaction, the executive vice president owned 17,163 shares of the company's stock, valued at approximately $1,241,743.05. This trade represents a 14.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,934 shares of company stock valued at $1,187,826 in the last ninety days. 0.19% of the stock is owned by company insiders.

Marvell Technology Stock Up 0.2%

Shares of MRVL stock traded up $0.17 during trading hours on Friday, reaching $74.21. The company had a trading volume of 9,813,678 shares, compared to its average volume of 16,248,888. Marvell Technology, Inc. has a 12 month low of $47.08 and a 12 month high of $127.48. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.30 and a quick ratio of 0.94. The business has a fifty day simple moving average of $69.95 and a 200-day simple moving average of $77.67. The company has a market cap of $64.10 billion, a price-to-earnings ratio of -130.19, a price-to-earnings-growth ratio of 0.80 and a beta of 1.81.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last issued its quarterly earnings results on Thursday, May 29th. The semiconductor company reported $0.62 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.01. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.88 billion. Marvell Technology had a positive return on equity of 8.42% and a negative net margin of 7.56%. Marvell Technology's quarterly revenue was up 63.3% compared to the same quarter last year. During the same period last year, the company posted $0.24 earnings per share. On average, research analysts expect that Marvell Technology, Inc. will post 0.91 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, July 11th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.32%. The ex-dividend date is Friday, July 11th. Marvell Technology's dividend payout ratio (DPR) is presently -42.11%.

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.