Traders Purchase Large Volume of Marvell Technology Call Options (NASDAQ:MRVL)

Marvell Technology, Inc. (NASDAQ:MRVL) was the recipient of some unusual options trading on Monday. Stock traders acquired 77,764 call options on the stock. This is an increase of 42% compared to the average volume of 54,692 call options.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Bank of America lifted their target price on shares of Marvell Technology from $108.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Evercore ISI boosted their price target on shares of Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. Piper Sandler reaffirmed an “overweight” rating and issued a $120.00 price objective (up previously from $100.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. StockNews.com raised shares of Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. Finally, KeyCorp raised their price target on shares of Marvell Technology from $125.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat, Marvell Technology has a consensus rating of “Moderate Buy” and an average price target of $127.88.

Marvell Technology Stock Down 16.5 %

Shares of MRVL stock traded down $20.51 during mid-day trading on Monday, reaching $103.51. 18,370,111 shares of the company were exchanged, compared to its average volume of 11,168,111. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. Marvell Technology has a fifty-two week low of $53.19 and a fifty-two week high of $127.48. The business’s 50 day simple moving average is $110.11 and its 200 day simple moving average is $86.44. The company has a market capitalization of $89.56 billion, a P/E ratio of -61.15, a P/E/G ratio of 4.12 and a beta of 1.41.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be paid a dividend of $0.06 per share. The ex-dividend date is Friday, January 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.23%. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

Insider Activity

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction on Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $183,750.00. Following the sale, the chief financial officer now owns 112,711 shares of the company’s stock, valued at $13,807,097.50. The trade was a 1.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total transaction of $746,400.00. Following the sale, the executive vice president now directly owns 93,931 shares in the company, valued at $11,685,016.40. This represents a 6.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,755 shares of company stock valued at $4,361,430 in the last ninety days. 0.33% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Marvell Technology

Several large investors have recently modified their holdings of MRVL. Temasek Holdings Private Ltd lifted its position in shares of Marvell Technology by 581.8% during the 3rd quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company’s stock valued at $161,555,000 after acquiring an additional 1,911,532 shares during the period. Holocene Advisors LP purchased a new position in Marvell Technology in the 3rd quarter valued at approximately $120,116,000. Van ECK Associates Corp boosted its position in shares of Marvell Technology by 26.6% during the 3rd quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock valued at $538,868,000 after acquiring an additional 1,570,050 shares during the last quarter. Perpetual Ltd increased its holdings in shares of Marvell Technology by 3,405.3% in the fourth quarter. Perpetual Ltd now owns 702,498 shares of the semiconductor company’s stock worth $77,591,000 after buying an additional 682,457 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in Marvell Technology by 14.0% in the fourth quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company’s stock worth $518,435,000 after buying an additional 571,005 shares during the period. 83.51% of the stock is currently 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.