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

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley upped their target price on shares of Marvell Technology from $102.00 to $120.00 and gave the company an “equal weight” rating in a research note on Friday, December 20th. Needham & Company LLC increased their target price on Marvell Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Bank of America lifted their target price on Marvell Technology from $108.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Oppenheimer upped their price target on Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Finally, Melius assumed coverage on shares of Marvell Technology in a report on Monday. They issued a “buy” rating and a $188.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $127.88.

Marvell Technology Price Performance

Shares of NASDAQ MRVL opened at $100.08 on Tuesday. The stock has a market cap of $86.60 billion, a P/E ratio of -58.87, a P/E/G ratio of 4.12 and a beta of 1.41. The firm’s 50-day simple moving average is $110.34 and its 200 day simple moving average is $86.64. Marvell Technology has a fifty-two week low of $53.19 and a fifty-two week high of $127.48. 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 business also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.24%. Marvell Technology’s dividend payout ratio (DPR) is -14.12%.

Insider Buying and Selling

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the company’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 transaction, the executive vice president now directly owns 93,931 shares of the company’s stock, valued at $11,685,016.40. This represents a 6.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $89.14, for a total value of $133,710.00. Following the transaction, the chief financial officer now owns 114,211 shares of the company’s stock, valued at approximately $10,180,768.54. This trade represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 37,755 shares of company stock worth $4,361,430. 0.33% of the stock is currently owned by corporate insiders.

Institutional Trading of Marvell Technology

A number of institutional investors have recently made changes to their positions in MRVL. Zweig DiMenna Associates LLC boosted its stake in Marvell Technology by 6.3% during the 4th quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock valued at $23,583,000 after purchasing an additional 12,700 shares in the last quarter. Berbice Capital Management LLC acquired a new stake in shares of Marvell Technology in the fourth quarter valued at $637,000. RFG Advisory LLC boosted its stake in Marvell Technology by 6.2% during the fourth quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock valued at $4,708,000 after buying an additional 2,507 shares in the last quarter. Braun Stacey Associates Inc. acquired a new position in Marvell Technology during the third quarter worth about $16,435,000. Finally, Charles Schwab Investment Management Inc. raised its position in Marvell Technology by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock worth $235,247,000 after acquiring an additional 66,654 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.