Marvell Technology Group Sees Unusually High Options Volume (MRVL)

Marvell Technology Group Ltd. (NASDAQ:MRVL) saw unusually large options trading activity on Thursday. Traders acquired 30,544 put options on the stock. This represents an increase of 865% compared to the average volume of 3,166 put options.

MRVL stock traded down $0.28 during midday trading on Friday, hitting $22.82. The company’s stock had a trading volume of 797,458 shares, compared to its average volume of 10,736,152. Marvell Technology Group has a 12 month low of $14.34 and a 12 month high of $25.74. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.19 and a quick ratio of 1.76. The company has a market capitalization of $15.23 billion, a price-to-earnings ratio of 26.85, a PEG ratio of 4.20 and a beta of 1.11.

Marvell Technology Group (NASDAQ:MRVL) last issued its quarterly earnings data on Thursday, March 7th. The semiconductor company reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.02). Marvell Technology Group had a positive return on equity of 7.95% and a negative net margin of 6.25%. The firm had revenue of $744.80 million for the quarter, compared to analysts’ expectations of $739.88 million. During the same period last year, the company earned $0.32 earnings per share. Sell-side analysts anticipate that Marvell Technology Group will post 0.63 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Investors of record on Wednesday, April 3rd were issued a dividend of $0.06 per share. The ex-dividend date was Tuesday, April 2nd. This represents a $0.24 annualized dividend and a yield of 1.05%. Marvell Technology Group’s payout ratio is presently 28.24%.

MRVL has been the topic of a number of recent analyst reports. BidaskClub raised shares of Marvell Technology Group from a “hold” rating to a “buy” rating in a research note on Wednesday, April 10th. Bank of America lifted their price target on Marvell Technology Group from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Piper Jaffray Companies lifted their price target on Marvell Technology Group from $22.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. UBS Group lifted their price target on Marvell Technology Group from $22.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Finally, Zacks Investment Research raised Marvell Technology Group from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a research report on Wednesday, February 6th. Three equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $25.55.

In other Marvell Technology Group news, EVP Mitchell Gaynor sold 10,000 shares of the stock in a transaction on Friday, April 12th. The shares were sold at an average price of $23.64, for a total value of $236,400.00. Following the sale, the executive vice president now directly owns 25,576 shares in the company, valued at $604,616.64. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.10% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. FMR LLC raised its stake in Marvell Technology Group by 48.1% during the 4th quarter. FMR LLC now owns 80,824,523 shares of the semiconductor company’s stock valued at $1,308,549,000 after acquiring an additional 26,251,979 shares during the last quarter. Vanguard Group Inc boosted its stake in Marvell Technology Group by 45.0% in the third quarter. Vanguard Group Inc now owns 53,229,098 shares of the semiconductor company’s stock valued at $1,027,321,000 after acquiring an additional 16,517,490 shares during the period. Wellington Management Group LLP boosted its stake in Marvell Technology Group by 59.8% in the first quarter. Wellington Management Group LLP now owns 31,527,267 shares of the semiconductor company’s stock valued at $627,077,000 after acquiring an additional 11,803,147 shares during the period. BlackRock Inc. boosted its stake in Marvell Technology Group by 29.1% in the first quarter. BlackRock Inc. now owns 46,081,466 shares of the semiconductor company’s stock valued at $916,559,000 after acquiring an additional 10,388,875 shares during the period. Finally, Morgan Stanley boosted its stake in Marvell Technology Group by 837.0% in the third quarter. Morgan Stanley now owns 6,592,139 shares of the semiconductor company’s stock valued at $127,230,000 after acquiring an additional 5,888,609 shares during the period. Institutional investors own 97.26% of the company’s stock.

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Marvell Technology Group Company Profile

Marvell Technology Group Ltd. designs, develops, and markets analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a range of storage products, including hard disk drive (HDD) and solid-state drive controllers, as well as preamplifiers; supports a variety of host system interfaces consisting of serial attached SCSI (SAS), serial advanced technology attachment (SATA), peripheral component interconnect express, and non-volatile memory express; and develops software-enabled silicon solutions comprising SATA port multipliers, bridges, SATA, SAS, and non-volatile memory express redundant array of independent disks controllers and converged storage processors for enterprises, data centers, and cloud computing businesses.

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