Marvell Technology Target of Unusually Large Options Trading (NASDAQ:MRVL)

Marvell Technology, Inc. (NASDAQ:MRVL) was the target of unusually large options trading on Tuesday. Stock investors purchased 139,991 call options on the company. This is an increase of 57% compared to the typical volume of 89,355 call options.

Analyst Upgrades and Downgrades

MRVL has been the topic of a number of research analyst reports. Summit Insights downgraded Marvell Technology from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Needham & Company LLC reduced their price objective on Marvell Technology from $100.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, May 30th. Redburn Atlantic assumed coverage on Marvell Technology in a research report on Wednesday, May 28th. They issued a “neutral” rating and a $67.00 price objective on the stock. Rosenblatt Securities restated a “buy” rating and issued a $124.00 price objective on shares of Marvell Technology in a research report on Friday, May 30th. Finally, Raymond James Financial restated an “outperform” rating and issued a $90.00 price objective (down from $110.00) on shares of Marvell Technology in a research report on Friday, May 30th. Seven analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Marvell Technology has a consensus rating of “Moderate Buy” and a consensus target price of $94.73.

Insiders Place Their Bets

In other news, EVP Mark Casper sold 12,460 shares of Marvell Technology stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $55.00, for a total value of $685,300.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $60.00, for a total value of $90,000.00. Following the transaction, the chief financial officer now directly owns 124,348 shares in the company, valued at approximately $7,460,880. This trade represents a 1.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,394 shares of company stock valued at $1,656,076 in the last three months. 0.33% of the stock is currently owned by insiders.

Institutional Trading of Marvell Technology

Large investors have recently added to or reduced their stakes in the business. Centricity Wealth Management LLC acquired a new position in shares of Marvell Technology during the 4th quarter valued at $26,000. Hughes Financial Services LLC acquired a new position in shares of Marvell Technology during the 1st quarter valued at $26,000. Rialto Wealth Management LLC acquired a new position in shares of Marvell Technology during the 4th quarter valued at $27,000. Rossby Financial LCC acquired a new position in shares of Marvell Technology during the 1st quarter valued at $27,000. Finally, Financial Connections Group Inc. increased its position in shares of Marvell Technology by 776.0% during the 1st quarter. Financial Connections Group Inc. now owns 438 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 388 shares during the period. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Marvell Technology Stock Down 0.6%

Shares of Marvell Technology stock opened at $69.99 on Wednesday. The company has a current ratio of 1.30, a quick ratio of 0.94 and a debt-to-equity ratio of 0.22. The business’s 50 day simple moving average is $60.89 and its 200-day simple moving average is $84.87. The stock has a market capitalization of $60.46 billion, a price-to-earnings ratio of -122.79, a PEG ratio of 0.77 and a beta of 1.76. Marvell Technology has a twelve month low of $47.09 and a twelve month high of $127.48.

Marvell Technology (NASDAQ:MRVL) last posted its earnings results on Thursday, May 29th. The semiconductor company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.61 by $0.01. Marvell Technology had a positive return on equity of 8.42% and a negative net margin of 7.56%. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same period last year, the firm earned $0.24 EPS. The firm’s revenue was up 63.3% compared to the same quarter last year. Equities research analysts forecast that Marvell Technology will post 0.91 earnings per share for the current year.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, July 11th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.34%. The ex-dividend date of this dividend is Friday, July 11th. Marvell Technology’s dividend payout ratio is currently -42.11%.

Marvell Technology Company 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.