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

Marvell Technology, Inc. (NASDAQ:MRVL) was the target of unusually large options trading on Thursday. Investors purchased 85,526 call options on the stock. This is an increase of 81% compared to the typical daily volume of 47,154 call options.

Insiders Place Their Bets

In related news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $66.75, for a total transaction of $100,125.00. Following the completion of the sale, the chief financial officer now directly owns 113,253 shares in the company, valued at $7,559,637.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $66.75, for a total value of $100,125.00. Following the completion of the sale, the chief financial officer now owns 113,253 shares in the company, valued at $7,559,637.75. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Chris Koopmans sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $73.42, for a total value of $367,100.00. Following the completion of the transaction, the executive vice president now directly owns 115,318 shares in the company, valued at approximately $8,466,647.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 65,500 shares of company stock valued at $4,872,620. Insiders own 0.33% of the company’s stock.

Institutional Trading of Marvell Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Diversified Trust Co bought a new position in shares of Marvell Technology during the second quarter valued at approximately $932,000. Orion Portfolio Solutions LLC grew its position in Marvell Technology by 47.1% in the 1st quarter. Orion Portfolio Solutions LLC now owns 32,191 shares of the semiconductor company’s stock valued at $2,282,000 after acquiring an additional 10,306 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in Marvell Technology by 157.3% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 772 shares of the semiconductor company’s stock worth $46,000 after purchasing an additional 472 shares during the period. Hoylecohen LLC bought a new stake in shares of Marvell Technology during the fourth quarter worth $658,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Marvell Technology by 20.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 529,127 shares of the semiconductor company’s stock valued at $37,505,000 after purchasing an additional 88,918 shares during the period. 83.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. StockNews.com cut shares of Marvell Technology from a “hold” rating to a “sell” rating in a research note on Wednesday, May 15th. Barclays boosted their price objective on Marvell Technology from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, May 31st. Stifel Nicolaus increased their target price on Marvell Technology from $86.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Evercore ISI boosted their price target on Marvell Technology from $88.00 to $91.00 and gave the stock an “outperform” rating in a report on Friday, May 31st. Finally, B. Riley increased their price objective on shares of Marvell Technology from $95.00 to $100.00 and gave the company a “buy” rating in a report on Friday, May 31st. One research analyst has rated the stock with a sell rating, one has given a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, Marvell Technology presently has an average rating of “Moderate Buy” and an average price target of $86.05.

Marvell Technology Trading Up 2.0 %

Shares of NASDAQ MRVL opened at $69.84 on Friday. Marvell Technology has a 1-year low of $46.07 and a 1-year high of $85.76. 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 business’s 50 day moving average is $67.86 and its two-hundred day moving average is $69.42. The stock has a market capitalization of $60.45 billion, a P/E ratio of -61.81, a PEG ratio of 2.99 and a beta of 1.47.

Marvell Technology (NASDAQ:MRVL) last released its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share for the quarter, meeting the consensus estimate of $0.30. The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.25 billion. Marvell Technology had a positive return on equity of 4.51% and a negative net margin of 18.33%. The company’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 EPS. As a group, research analysts expect that Marvell Technology will post 0.75 EPS for the current year.

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, July 12th were issued a $0.06 dividend. The ex-dividend date was Friday, July 12th. This represents a $0.24 annualized dividend and a dividend yield of 0.34%. 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.