Stock Traders Buy High Volume of Marvell Technology Call Options (NASDAQ:MRVL)

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) was the target of unusually large options trading on Tuesday. Investors purchased 139,991 call options on the stock. This is an increase of 57% compared to the typical volume of 89,355 call options.

Analyst Ratings Changes

MRVL has been the topic of several analyst reports. Stifel Nicolaus decreased their price target on Marvell Technology from $115.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Wells Fargo & Company cut their price target on shares of Marvell Technology from $120.00 to $95.00 and set an "overweight" rating on the stock in a report on Friday, May 30th. Citigroup lowered their target price on shares of Marvell Technology from $122.00 to $96.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Raymond James restated an "outperform" rating and set a $90.00 price target (down previously from $110.00) on shares of Marvell Technology in a research report on Friday, May 30th. Finally, Loop Capital dropped their price objective on shares of Marvell Technology from $110.00 to $90.00 and set a "buy" rating for the company in a report on Friday, May 30th. Seven investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $94.73.

Insider Buying and Selling

In related news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $60.00, for a total value of $90,000.00. Following the transaction, the chief financial officer now directly owns 124,348 shares in the company, valued at $7,460,880. This trade represents a 1.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark Casper sold 12,460 shares of the business's stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $55.00, for a total value of $685,300.00. The disclosure for this sale can be found here. Insiders sold a total of 27,394 shares of company stock valued at $1,656,076 in the last three months. Insiders own 0.19% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of MRVL. Vanguard Group Inc. boosted its position in Marvell Technology by 1.9% during the first quarter. Vanguard Group Inc. now owns 63,770,122 shares of the semiconductor company's stock valued at $3,926,326,000 after purchasing an additional 1,212,338 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Marvell Technology by 32.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 20,661,308 shares of the semiconductor company's stock valued at $1,272,117,000 after buying an additional 5,050,159 shares during the last quarter. Brown Advisory Inc. lifted its stake in Marvell Technology by 2.2% in the first quarter. Brown Advisory Inc. now owns 19,300,527 shares of the semiconductor company's stock valued at $1,188,333,000 after acquiring an additional 423,892 shares during the last quarter. Invesco Ltd. lifted its stake in Marvell Technology by 30.1% in the fourth quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company's stock valued at $1,784,649,000 after acquiring an additional 3,737,705 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in Marvell Technology by 6.9% in the 4th quarter. Janus Henderson Group PLC now owns 13,239,154 shares of the semiconductor company's stock valued at $1,462,274,000 after purchasing an additional 857,087 shares during the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.

Marvell Technology Price Performance

Shares of MRVL traded down $0.43 during mid-day trading on Tuesday, reaching $69.99. The company had a trading volume of 25,273,549 shares, compared to its average volume of 14,826,774. The company has a market capitalization of $60.46 billion, a P/E ratio of -41.17, a P/E/G ratio of 1.61 and a beta of 1.76. The company's 50-day moving average is $60.71 and its 200-day moving average is $84.98. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. Marvell Technology has a twelve month low of $47.09 and a twelve month high of $127.48.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last announced its earnings results on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share for the quarter, beating analysts' consensus estimates of $0.61 by $0.01. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.88 billion. Marvell Technology had a positive return on equity of 4.59% and a negative net margin of 27.49%. The firm's quarterly revenue was up 63.3% compared to the same quarter last year. During the same period last year, the company posted $0.24 earnings per share. On average, equities analysts anticipate that Marvell Technology will post 0.91 EPS for the current year.

Marvell Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, July 11th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.34%. The ex-dividend date of this dividend is Friday, July 11th. Marvell Technology's dividend payout ratio (DPR) is presently -42.11%.

Marvell Technology Company Profile

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.

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