Investors Buy Large Volume of Marvell Technology Call Options (NASDAQ:MRVL)

Marvell Technology, Inc. (NASDAQ:MRVL) was the recipient of some unusual options trading activity on Monday. Investors bought 77,764 call options on the stock. This represents an increase of approximately 42% compared to the average daily volume of 54,692 call options.

Insider Activity at Marvell Technology

In other news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $534,840.00. Following the completion of the transaction, the executive vice president now owns 103,244 shares of the company’s stock, valued at $9,203,170.16. The trade was a 5.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $89.14, for a total transaction of $133,710.00. Following the completion of the sale, the chief financial officer now directly owns 114,211 shares in the company, valued at approximately $10,180,768.54. The trade was a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,755 shares of company stock worth $4,361,430 over the last 90 days. Company insiders own 0.33% of the company’s stock.

Institutional Trading of Marvell Technology

Institutional investors have recently added to or reduced their stakes in the business. Temasek Holdings Private Ltd raised its position in Marvell Technology by 581.8% in the third quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company’s stock valued at $161,555,000 after purchasing an additional 1,911,532 shares during the period. Holocene Advisors LP purchased a new stake in shares of Marvell Technology during the 3rd quarter valued at about $120,116,000. Van ECK Associates Corp lifted its position 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 worth $538,868,000 after acquiring an additional 1,570,050 shares in the last quarter. Perpetual Ltd boosted its holdings in Marvell Technology by 3,405.3% in the 4th quarter. Perpetual Ltd now owns 702,498 shares of the semiconductor company’s stock worth $77,591,000 after acquiring an additional 682,457 shares during the period. Finally, Nordea Investment Management AB grew its position in Marvell Technology by 14.0% in the fourth quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company’s stock valued at $518,435,000 after acquiring an additional 571,005 shares in the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MRVL has been the topic of several research reports. StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a research report on Thursday, January 9th. Cantor Fitzgerald raised their price target on Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Melius started coverage on Marvell Technology in a research report on Monday. They issued a “buy” rating and a $188.00 price objective on the stock. TD Cowen lifted their price objective on Marvell Technology from $90.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, KeyCorp boosted their target price on shares of Marvell Technology from $125.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $127.88.

Marvell Technology Trading Down 19.3 %

NASDAQ MRVL opened at $100.08 on Tuesday. The firm has a market capitalization of $86.60 billion, a price-to-earnings ratio of -58.87, a PEG ratio of 4.12 and a beta of 1.41. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. Marvell Technology has a one year low of $53.19 and a one year high of $127.48. The company’s 50 day moving average price is $110.34 and its 200 day moving average price is $86.64.

Marvell Technology Announces Dividend

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

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.