Stock Traders Purchase High Volume of Marvell Technology Call Options (NASDAQ:MRVL)

Marvell Technology, Inc. (NASDAQ:MRVLGet Free Report) was the recipient of some unusual options trading on Monday. Traders bought 77,764 call options on the company. This represents an increase of 42% compared to the average daily volume of 54,692 call options.

Insider Activity

In related news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $118.33, for a total value of $177,495.00. Following the completion of the transaction, the chief financial officer now owns 111,211 shares in the company, valued at approximately $13,159,597.63. This trade represents a 1.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total value of $746,400.00. Following the sale, the executive vice president now directly owns 93,931 shares in the company, valued at $11,685,016.40. The trade was a 6.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,755 shares of company stock worth $4,361,430. 0.33% of the stock is currently owned by insiders.

Institutional Trading of Marvell Technology

A number of institutional investors have recently made changes to their positions in the business. State Street Corp increased its holdings in shares of Marvell Technology by 0.3% in the third quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock valued at $1,438,336,000 after purchasing an additional 68,893 shares during the period. Geode Capital Management LLC increased its holdings in Marvell Technology by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 11,388,139 shares of the semiconductor company’s stock worth $818,916,000 after buying an additional 219,692 shares during the period. Wellington Management Group LLP raised its position in Marvell Technology by 4.3% during the 3rd quarter. Wellington Management Group LLP now owns 8,694,320 shares of the semiconductor company’s stock worth $627,034,000 after buying an additional 359,005 shares during the last quarter. Van ECK Associates Corp lifted its stake in Marvell Technology by 26.6% during the 3rd quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock valued at $538,868,000 after acquiring an additional 1,570,050 shares during the period. Finally, Clearbridge Investments LLC boosted its holdings in shares of Marvell Technology by 3.0% in the 2nd quarter. Clearbridge Investments LLC now owns 5,189,682 shares of the semiconductor company’s stock valued at $362,759,000 after acquiring an additional 150,109 shares during the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Analysts Set New Price Targets

MRVL has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised their price target on Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Craig Hallum lifted their price target on shares of Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Susquehanna increased their price objective on shares of Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a research report on Wednesday, December 4th. Needham & Company LLC boosted their target price on Marvell Technology from $95.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, Benchmark reissued a “buy” rating and set a $135.00 price target (up from $115.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $127.60.

Get Our Latest Analysis on MRVL

Marvell Technology Trading Up 3.5 %

NASDAQ MRVL opened at $103.88 on Wednesday. Marvell Technology has a 52 week low of $53.19 and a 52 week high of $127.48. The company has a 50 day moving average price of $110.63 and a 200 day moving average price of $86.85. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The firm has a market cap of $89.89 billion, a PE ratio of -61.11, a price-to-earnings-growth ratio of 4.12 and a beta of 1.41.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.23%. Marvell Technology’s dividend payout ratio is presently -14.12%.

About Marvell Technology

(Get Free Report)

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.

Read More

Receive News & Ratings for Marvell Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marvell Technology and related companies with MarketBeat.com's FREE daily email newsletter.