Marvell Technology Sees Unusually Large Options Volume (NASDAQ:MRVL)

Marvell Technology, Inc. (NASDAQ:MRVL) was the recipient of unusually large options trading on Monday. Stock investors bought 77,764 call options on the company. This represents an increase of approximately 42% compared to the average volume of 54,692 call options.

Marvell Technology Stock Up 3.5 %

Shares of 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 business’s 50 day moving average is $110.63 and its two-hundred day moving average is $86.85. The firm has a market cap of $89.89 billion, a price-to-earnings ratio of -61.11, a PEG ratio of 4.12 and a beta of 1.41. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30.

Marvell Technology Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Melius initiated coverage on shares of Marvell Technology in a report on Monday. They set a “buy” rating and a $188.00 price objective on the stock. Oppenheimer boosted their price objective on Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Morgan Stanley decreased their target price on Marvell Technology from $120.00 to $113.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Susquehanna boosted their price target on Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a research report on Wednesday, December 4th. Finally, Cantor Fitzgerald lifted their target price on shares of Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $127.60.

Insider Transactions at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $133,710.00. Following the completion of the transaction, the chief financial officer now owns 114,211 shares of the company’s stock, valued at approximately $10,180,768.54. This represents a 1.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the 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 transaction, the executive vice president now owns 93,931 shares in the company, valued at $11,685,016.40. This represents a 6.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,755 shares of company stock worth $4,361,430 over the last quarter. 0.33% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Marvell Technology

Several institutional investors have recently bought and sold shares of MRVL. Valley National Advisers Inc. increased its stake in Marvell Technology by 0.4% during the 4th quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company’s stock worth $2,775,000 after buying an additional 96 shares during the period. Waldron Private Wealth LLC grew its stake in shares of Marvell Technology by 3.6% in the fourth quarter. Waldron Private Wealth LLC now owns 2,964 shares of the semiconductor company’s stock worth $327,000 after acquiring an additional 103 shares in the last quarter. Tsfg LLC increased its position in shares of Marvell Technology by 7.5% during the fourth quarter. Tsfg LLC now owns 1,593 shares of the semiconductor company’s stock worth $176,000 after acquiring an additional 111 shares during the period. GHP Investment Advisors Inc. raised its stake in shares of Marvell Technology by 48.3% in the fourth quarter. GHP Investment Advisors Inc. now owns 344 shares of the semiconductor company’s stock valued at $38,000 after acquiring an additional 112 shares in the last quarter. Finally, Citizens Financial Group Inc. RI grew its stake in Marvell Technology by 1.5% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 7,842 shares of the semiconductor company’s stock worth $566,000 after purchasing an additional 116 shares in the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.

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.