Investors Purchase High Volume of Call Options on Marvell Technology Group (MRVL)

Marvell Technology Group Ltd. (NASDAQ:MRVL) was the recipient of some unusual options trading on Friday. Stock traders purchased 29,054 call options on the company. This represents an increase of 1,981% compared to the average daily volume of 1,396 call options.

In related news, major shareholder Sehat Sutardja sold 1,266,498 shares of Marvell Technology Group stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $18.55, for a total value of $23,493,537.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Marvell Semiconductor, Inc. Ca sold 9,812 shares of Marvell Technology Group stock in a transaction on Friday, December 1st. The shares were sold at an average price of $21.20, for a total value of $208,014.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,813,418 shares of company stock valued at $33,627,308. 6.80% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the stock. Teton Advisors Inc. increased its position in Marvell Technology Group by 14.7% in the 3rd quarter. Teton Advisors Inc. now owns 71,700 shares of the semiconductor company’s stock valued at $1,283,000 after acquiring an additional 9,200 shares during the period. Quantitative Investment Management LLC acquired a new position in Marvell Technology Group in the 2nd quarter valued at about $15,360,000. Achmea Investment Management B.V. acquired a new position in Marvell Technology Group in the 2nd quarter valued at about $214,000. Nomura Holdings Inc. acquired a new position in Marvell Technology Group in the 2nd quarter valued at about $539,000. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in Marvell Technology Group by 2.0% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 232,300 shares of the semiconductor company’s stock valued at $4,176,000 after acquiring an additional 4,600 shares during the period. Hedge funds and other institutional investors own 78.70% of the company’s stock.

A number of research analysts recently issued reports on the company. Cowen reiterated an “outperform” rating and issued a $29.00 target price (up from $21.00) on shares of Marvell Technology Group in a report on Monday, November 27th. BMO Capital Markets lifted their target price on Marvell Technology Group to $25.00 and gave the company a “market perform” rating in a report on Monday, November 27th. Credit Suisse Group reiterated an “outperform” rating and issued a $30.00 target price (up from $22.00) on shares of Marvell Technology Group in a report on Tuesday, November 28th. Oppenheimer lifted their target price on Marvell Technology Group from $23.00 to $30.00 and gave the company an “outperform” rating in a report on Tuesday, November 21st. Finally, Stifel Nicolaus lifted their target price on Marvell Technology Group from $16.00 to $19.00 and gave the company a “hold” rating in a report on Wednesday, November 29th. Eight research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. Marvell Technology Group currently has an average rating of “Buy” and an average price target of $23.92.

Shares of Marvell Technology Group (NASDAQ MRVL) opened at $23.84 on Monday. Marvell Technology Group has a 52-week low of $13.83 and a 52-week high of $24.22. The company has a market capitalization of $11,710.21, a PE ratio of 30.96, a PEG ratio of 1.44 and a beta of 1.12.

Marvell Technology Group (NASDAQ:MRVL) last posted its earnings results on Tuesday, November 28th. The semiconductor company reported $0.34 EPS for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.01. Marvell Technology Group had a return on equity of 11.93% and a net margin of 16.53%. The business had revenue of $616.00 million for the quarter, compared to analysts’ expectations of $613.49 million. During the same quarter in the previous year, the firm earned $0.20 earnings per share. The business’s revenue was down 5.8% compared to the same quarter last year. research analysts expect that Marvell Technology Group will post 1.01 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Wednesday, December 27th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend is Tuesday, December 26th. Marvell Technology Group’s dividend payout ratio (DPR) is presently 31.17%.

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Marvell Technology Group Company Profile

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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