Investors Buy High Volume of Marvell Technology Group Put Options (MRVL)
Marvell Technology Group (NASDAQ:MRVL) was the target of unusually large options trading activity on Thursday. Stock traders bought 3,157 put options on the stock, Analyst Ratings Network reports. This represents an increase of approximately 232% compared to the typical volume of 950 put options.
Several analysts have recently commented on the stock. Analysts at MKM Partners cut their price target on shares of Marvell Technology Group from $19.00 to $17.00 in a research note on Monday. They now have a “buy” rating on the stock. Separately, analysts at Standpoint Research upgraded shares of Marvell Technology Group from a “hold” rating to a “buy” rating in a research note on Thursday, August 14th. They now have a $17.00 price target on the stock. Finally, analysts at Zacks downgraded shares of Marvell Technology Group from an “outperform” rating to a “neutral” rating in a research note on Wednesday, July 23rd. They now have a $17.10 price target on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $16.65.
Shares of Marvell Technology Group (NASDAQ:MRVL) traded up 0.74% during mid-day trading on Thursday, hitting $13.64. The stock had a trading volume of 7,912,452 shares. Marvell Technology Group has a one year low of $10.87 and a one year high of $16.65. The stock’s 50-day moving average is $13.72 and its 200-day moving average is $14.98. The company has a market cap of $6.932 billion and a price-to-earnings ratio of 19.04.
Marvell Technology Group (NASDAQ:MRVL) last posted its quarterly earnings results on Thursday, August 21st. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.06. The company had revenue of $961.50 million for the quarter, compared to the consensus estimate of $961.56 million. During the same quarter last year, the company posted $0.23 earnings per share. Marvell Technology Group’s revenue was up 19.2% compared to the same quarter last year. On average, analysts predict that Marvell Technology Group will post $1.15 earnings per share for the current fiscal year.
Marvell Technology Group Ltd. (NASDAQ:MRVL) is a fabless semiconductor provider of application-specific standard products.
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