Marvell Technology Target of Unusually High Options Trading (NASDAQ:MRVL)

Marvell Technology, Inc. (NASDAQ:MRVL) was the recipient of unusually large options trading on Thursday. Stock investors bought 85,063 call options on the stock. This is an increase of 14% compared to the typical volume of 74,825 call options.

Wall Street Analyst Weigh In

Several research analysts have weighed in on MRVL shares. Morgan Stanley boosted their price objective on Marvell Technology from $63.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 7th. B. Riley restated a “buy” rating and set a $95.00 price target (up previously from $85.00) on shares of Marvell Technology in a research report on Monday, March 4th. Raymond James lifted their price objective on shares of Marvell Technology from $62.00 to $78.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. Oppenheimer reiterated an “outperform” rating and issued a $80.00 target price (up from $70.00) on shares of Marvell Technology in a research note on Thursday, February 29th. Finally, Citigroup reaffirmed a “buy” rating and issued a $91.00 price target on shares of Marvell Technology in a report on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $76.58.

Insider Transactions at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,000 shares of Marvell Technology stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $68.20, for a total transaction of $68,200.00. Following the transaction, the chief financial officer now owns 103,986 shares of the company’s stock, valued at $7,091,845.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Marvell Technology news, EVP Chris Koopmans sold 5,000 shares of the stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $65.26, for a total value of $326,300.00. Following the completion of the sale, the executive vice president now owns 124,117 shares in the company, valued at approximately $8,099,875.42. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Willem A. Meintjes sold 1,000 shares of Marvell Technology stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $68.20, for a total transaction of $68,200.00. Following the transaction, the chief financial officer now directly owns 103,986 shares in the company, valued at approximately $7,091,845.20. The disclosure for this sale can be found here. Insiders sold a total of 108,000 shares of company stock valued at $7,188,790 over the last ninety days. 0.45% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Marvell Technology

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Quilter Plc bought a new stake in Marvell Technology in the first quarter valued at approximately $248,250,000. Bruce G. Allen Investments LLC increased its stake in shares of Marvell Technology by 56.4% in the first quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock worth $28,000 after buying an additional 141 shares during the period. SRS Capital Advisors Inc. raised its holdings in Marvell Technology by 216.2% during the 2nd quarter. SRS Capital Advisors Inc. now owns 411 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 281 shares during the last quarter. SJS Investment Consulting Inc. boosted its position in Marvell Technology by 56.8% during the 4th quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 155 shares during the period. Finally, Buck Wealth Strategies LLC grew its holdings in Marvell Technology by 1,328.1% in the 3rd quarter. Buck Wealth Strategies LLC now owns 457 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 425 shares during the last quarter. Institutional investors own 83.51% of the company’s stock.

Marvell Technology Trading Up 0.1 %

Shares of MRVL opened at $71.53 on Friday. Marvell Technology has a 1-year low of $36.90 and a 1-year high of $85.76. The company has a market capitalization of $61.94 billion, a P/E ratio of -66.23, a P/E/G ratio of 5.28 and a beta of 1.50. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.69 and a quick ratio of 1.21. The firm’s 50 day simple moving average is $70.33 and its 200 day simple moving average is $61.64.

Marvell Technology (NASDAQ:MRVL) last issued its quarterly earnings results on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.46. Marvell Technology had a positive return on equity of 4.96% and a negative net margin of 16.95%. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the previous year, the company posted $0.34 earnings per share. The company’s revenue was up .6% compared to the same quarter last year. Sell-side analysts forecast that Marvell Technology will post 0.72 earnings per share for the current fiscal year.

Marvell Technology declared that its board has approved a stock buyback program on Thursday, March 7th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to buy up to 4.8% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 12th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $0.24 annualized dividend and a yield of 0.34%. Marvell Technology’s payout ratio is -22.22%.

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.