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

Marvell Technology, Inc. (NASDAQ:MRVL) saw unusually large options trading on Tuesday. Stock traders purchased 58,655 call options on the stock. This is an increase of 32% compared to the average volume of 44,355 call options.

Marvell Technology Stock Performance

Shares of MRVL stock opened at $79.41 on Wednesday. The company has a quick ratio of 1.26, a current ratio of 1.79 and a debt-to-equity ratio of 0.28. Marvell Technology has a 52 week low of $46.07 and a 52 week high of $85.76. The stock has a market capitalization of $68.74 billion, a PE ratio of -70.27, a P/E/G ratio of 3.17 and a beta of 1.45. The firm has a 50 day moving average of $70.30 and a two-hundred day moving average of $69.98.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.30. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.25 billion. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The company’s revenue was down 5.1% on a year-over-year basis. During the same period last year, the business earned $0.18 EPS. On average, research analysts predict that Marvell Technology will post 0.78 EPS for the current fiscal year.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 11th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.30%. The ex-dividend date is Friday, October 11th. Marvell Technology’s dividend payout ratio (DPR) is presently -21.24%.

Insider Transactions at Marvell Technology

In other Marvell Technology news, CEO Matthew J. Murphy purchased 13,000 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were bought at an average price of $77.63 per share, for a total transaction of $1,009,190.00. Following the purchase, the chief executive officer now owns 221,915 shares in the company, valued at approximately $17,227,261.45. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Ford Tamer sold 92,000 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $74.16, for a total transaction of $6,822,720.00. Following the sale, the director now owns 351,193 shares in the company, valued at $26,044,472.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Matthew J. Murphy purchased 13,000 shares of Marvell Technology stock in a transaction on Monday, October 14th. The stock was bought at an average price of $77.63 per share, for a total transaction of $1,009,190.00. Following the transaction, the chief executive officer now directly owns 221,915 shares in the company, valued at approximately $17,227,261.45. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have sold 103,500 shares of company stock valued at $7,650,465. 0.33% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Marvell Technology

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Tlwm raised its holdings in shares of Marvell Technology by 1.6% during the second quarter. Tlwm now owns 8,598 shares of the semiconductor company’s stock worth $601,000 after purchasing an additional 136 shares during the period. Bruce G. Allen Investments LLC lifted its stake in shares of Marvell Technology by 56.4% in the 1st quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 141 shares during the last quarter. Parisi Gray Wealth Management boosted its stake in shares of Marvell Technology by 4.2% during the 3rd quarter. Parisi Gray Wealth Management now owns 4,161 shares of the semiconductor company’s stock worth $300,000 after acquiring an additional 166 shares in the last quarter. Sheaff Brock Investment Advisors LLC boosted its stake in Marvell Technology by 0.4% during the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 44,342 shares of the semiconductor company’s stock valued at $3,143,000 after purchasing an additional 168 shares during the period. Finally, Pathway Financial Advisers LLC raised its holdings in Marvell Technology by 1.2% in the 2nd quarter. Pathway Financial Advisers LLC now owns 14,601 shares of the semiconductor company’s stock valued at $1,019,000 after acquiring an additional 169 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MRVL. Bank of America increased their price objective on Marvell Technology from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Piper Sandler reaffirmed an “overweight” rating and issued a $100.00 price target on shares of Marvell Technology in a report on Friday, August 30th. StockNews.com raised Marvell Technology from a “sell” rating to a “hold” rating in a report on Thursday, October 10th. Rosenblatt Securities increased their price objective on Marvell Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Finally, Citigroup restated a “buy” rating and set a $91.00 price target on shares of Marvell Technology in a research report on Monday. Two analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $91.62.

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.