Marvell Technology Group Ltd. (NASDAQ:MRVL) was the target of some unusual options trading on Friday. Investors bought 6,386 put options on the stock. This is an increase of approximately 314% compared to the average volume of 1,541 put options.

Marvell Technology Group (MRVL) opened at 16.21 on Wednesday. The stock has a market cap of $8.15 billion, a P/E ratio of 54.76 and a beta of 1.11. Marvell Technology Group has a 12-month low of $9.68 and a 12-month high of $18.18. The stock has a 50 day moving average price of $17.03 and a 200-day moving average price of $15.63.

Marvell Technology Group (NASDAQ:MRVL) last issued its earnings results on Thursday, May 25th. The semiconductor company reported $0.20 EPS for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.04. Marvell Technology Group had a return on equity of 7.96% and a net margin of 6.19%. The company had revenue of $579.18 million during the quarter, compared to the consensus estimate of $570.72 million. During the same period in the previous year, the firm posted $0.01 earnings per share. Marvell Technology Group’s quarterly revenue was up 11.5% compared to the same quarter last year. On average, equities analysts expect that Marvell Technology Group will post $1.10 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 21st. Shareholders of record on Wednesday, July 5th will be paid a $0.06 dividend. The ex-dividend date is Friday, June 30th. This represents a $0.24 dividend on an annualized basis and a yield of 1.48%. Marvell Technology Group’s payout ratio is currently 82.76%.

Several equities analysts have recently commented on MRVL shares. B. Riley reaffirmed a “buy” rating and issued a $21.00 price target on shares of Marvell Technology Group in a research note on Thursday, March 23rd. Macquarie started coverage on Marvell Technology Group in a research note on Thursday, March 30th. They issued a “neutral” rating and a $16.00 price target on the stock. MKM Partners reaffirmed a “buy” rating and issued a $20.00 price target on shares of Marvell Technology Group in a research note on Thursday, April 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $21.00 price target on shares of Marvell Technology Group in a research note on Tuesday, April 18th. Finally, Zacks Investment Research lowered Marvell Technology Group from a “buy” rating to a “hold” rating in a research note on Wednesday, May 3rd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $18.05.

A number of institutional investors have recently modified their holdings of MRVL. Vanguard Group Inc. increased its position in shares of Marvell Technology Group by 2.9% in the first quarter. Vanguard Group Inc. now owns 31,899,958 shares of the semiconductor company’s stock worth $486,793,000 after buying an additional 887,640 shares during the last quarter. BlackRock Inc. increased its position in shares of Marvell Technology Group by 4,078.2% in the first quarter. BlackRock Inc. now owns 24,309,056 shares of the semiconductor company’s stock worth $370,955,000 after buying an additional 23,727,243 shares during the last quarter. State Street Corp increased its position in shares of Marvell Technology Group by 3.6% in the first quarter. State Street Corp now owns 9,846,772 shares of the semiconductor company’s stock worth $150,267,000 after buying an additional 341,686 shares during the last quarter. UBS Asset Management Americas Inc. increased its position in shares of Marvell Technology Group by 71.0% in the first quarter. UBS Asset Management Americas Inc. now owns 8,705,347 shares of the semiconductor company’s stock worth $132,844,000 after buying an additional 3,613,160 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Marvell Technology Group by 109.2% in the first quarter. Victory Capital Management Inc. now owns 4,014,790 shares of the semiconductor company’s stock worth $61,266,000 after buying an additional 2,095,294 shares during the last quarter. Institutional investors own 74.19% of the company’s stock.

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About Marvell Technology Group

Marvell Technology Group Ltd. is a semiconductor provider of application-specific standard products. The Company is engaged in the design, development and sale of integrated circuits. The Company develops System-on-a-Chip (SoC) devices. It also develops integrated hardware platforms along with software that incorporates digital computing technologies designed and configured to provide an optimized computing solution.

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