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

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

Analyst Upgrades and Downgrades

MRVL has been the topic of a number of analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $95.00 target price on shares of Marvell Technology in a report on Friday, August 30th. Piper Sandler restated an “overweight” rating and issued a $100.00 target price on shares of Marvell Technology in a research note on Friday, August 30th. Roth Mkm reiterated a “buy” rating and set a $95.00 price target on shares of Marvell Technology in a research 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. Finally, Rosenblatt Securities raised their target price on shares of Marvell Technology from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Two investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.62.

Insider Buying and Selling

In other 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 value of $100,125.00. Following the sale, the chief financial officer now owns 113,253 shares of the company’s stock, valued at $7,559,637.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Marvell Technology news, CEO Matthew J. Murphy sold 6,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $73.29, for a total value of $439,740.00. Following the completion of the transaction, the chief executive officer now owns 208,915 shares in the company, valued at $15,311,380.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $66.75, for a total value of $100,125.00. Following the sale, the chief financial officer now owns 113,253 shares in the company, valued at approximately $7,559,637.75. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 103,500 shares of company stock valued at $7,650,465. 0.33% of the stock is owned by insiders.

Institutional Trading of Marvell Technology

Several large investors have recently modified their holdings of the business. First Pacific Financial raised its holdings in shares of Marvell Technology by 2.9% during the third quarter. First Pacific Financial now owns 13,453 shares of the semiconductor company’s stock valued at $970,000 after acquiring an additional 374 shares in the last quarter. SWS Partners raised its holdings in Marvell Technology by 9.3% in the 3rd quarter. SWS Partners now owns 58,082 shares of the semiconductor company’s stock worth $4,189,000 after purchasing an additional 4,918 shares in the last quarter. Swedbank AB lifted its position in shares of Marvell Technology by 1.0% in the 3rd quarter. Swedbank AB now owns 2,357,695 shares of the semiconductor company’s stock worth $170,037,000 after purchasing an additional 23,680 shares during the period. NBC Securities Inc. lifted its position in shares of Marvell Technology by 20.5% in the 3rd quarter. NBC Securities Inc. now owns 2,466 shares of the semiconductor company’s stock worth $177,000 after purchasing an additional 419 shares during the period. Finally, Creative Planning boosted its stake in shares of Marvell Technology by 37.5% during the 3rd quarter. Creative Planning now owns 103,740 shares of the semiconductor company’s stock valued at $7,482,000 after purchasing an additional 28,286 shares in the last quarter. 83.51% of the stock is owned by institutional investors.

Marvell Technology Trading Up 2.2 %

MRVL traded up $1.73 on Tuesday, hitting $79.41. 25,045,904 shares of the company were exchanged, compared to its average volume of 12,390,465. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.26 and a current ratio of 1.79. The firm has a fifty day simple moving average of $70.30 and a two-hundred day simple moving average of $69.98. The stock has a market capitalization of $68.74 billion, a PE ratio of -70.27, a price-to-earnings-growth ratio of 3.17 and a beta of 1.45. Marvell Technology has a 12 month low of $46.07 and a 12 month high of $85.76.

Marvell Technology (NASDAQ:MRVL) last released 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. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the prior year, the firm posted $0.18 earnings per share. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. Sell-side analysts expect that Marvell Technology will post 0.78 earnings per share for the current year.

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 11th will be paid a dividend of $0.06 per share. 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 -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.