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

Marvell Technology, Inc. (NASDAQ:MRVL) saw some unusual options trading on Tuesday. Investors acquired 139,991 call options on the stock. This represents an increase of 57% compared to the typical volume of 89,355 call options.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Roth Capital set a $100.00 price objective on Marvell Technology in a research note on Thursday, March 6th. Wells Fargo & Company dropped their price objective on Marvell Technology from $120.00 to $95.00 and set an “overweight” rating for the company in a research note on Friday, May 30th. Needham & Company LLC reissued a “buy” rating and set a $85.00 price objective on shares of Marvell Technology in a research note on Wednesday. China Renaissance began coverage on shares of Marvell Technology in a research report on Thursday, June 5th. They set a “buy” rating and a $110.00 price objective on the stock. Finally, Benchmark reaffirmed a “buy” rating and set a $95.00 price objective on shares of Marvell Technology in a report on Wednesday. Seven analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Marvell Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.33.

Marvell Technology Stock Performance

Marvell Technology stock opened at $74.95 on Thursday. The company has a market capitalization of $64.74 billion, a PE ratio of -131.49, a P/E/G ratio of 0.76 and a beta of 1.76. The firm has a fifty day simple moving average of $61.17 and a two-hundred day simple moving average of $84.80. The company has a quick ratio of 0.94, a current ratio of 1.30 and a debt-to-equity ratio of 0.22. Marvell Technology has a twelve month low of $47.09 and a twelve month high of $127.48.

Marvell Technology (NASDAQ:MRVL) last issued its quarterly earnings data on Thursday, May 29th. The semiconductor company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.61 by $0.01. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.88 billion. Marvell Technology had a negative net margin of 7.56% and a positive return on equity of 8.42%. The company’s quarterly revenue was up 63.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.24 earnings per share. Research analysts expect that Marvell Technology will post 0.91 EPS for the current year.

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, July 11th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.32%. The ex-dividend date of this dividend is Friday, July 11th. Marvell Technology’s dividend payout ratio (DPR) is -42.11%.

Insider Activity

In related news, CAO Panteha Dixon sold 1,239 shares of Marvell Technology stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $65.01, for a total transaction of $80,547.39. Following the completion of the sale, the chief accounting officer now owns 30,855 shares of the company’s stock, valued at approximately $2,005,883.55. This trade represents a 3.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark Casper sold 12,460 shares of Marvell Technology stock in a transaction on Wednesday, April 23rd. The shares were 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. Over the last three months, insiders sold 27,394 shares of company stock worth $1,656,076. 0.19% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Marvell Technology

Several hedge funds and other institutional investors have recently modified their holdings of the company. Inspire Investing LLC raised its stake in shares of Marvell Technology by 114.1% during the first quarter. Inspire Investing LLC now owns 5,016 shares of the semiconductor company’s stock valued at $309,000 after acquiring an additional 2,673 shares during the last quarter. Vista Cima Wealth Management LLC purchased a new position in shares of Marvell Technology during the first quarter valued at about $345,000. Silicon Valley Capital Partners increased its position in shares of Marvell Technology by 1.7% during the first quarter. Silicon Valley Capital Partners now owns 33,571 shares of the semiconductor company’s stock valued at $2,083,000 after buying an additional 569 shares during the period. Strs Ohio purchased a new position in shares of Marvell Technology during the first quarter valued at about $16,366,000. Finally, Addison Capital Co increased its position in shares of Marvell Technology by 29.5% during the first quarter. Addison Capital Co now owns 5,515 shares of the semiconductor company’s stock valued at $340,000 after buying an additional 1,257 shares during the period. 83.51% of the stock is owned by institutional investors.

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.