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On March 9, 2023 at 15:58:24 ET an unusually large
$430.50K block of Put contracts in Marvell Technology Group
(MRVL) was sold,
with a strike price of $40.00 / share, expiring in 316 days (on January 19, 2024).
Fintel tracks all large options trades, and the premium spent on this trade was 1.81 sigmas above the mean, placing it in the 96.12 percentile of all recent large trades made in MRVL options.
This trade was first picked up on Fintel’s real time Unusual Option Trades
tool, where unusual option trades are highlighted.
Analyst Price Forecast Suggests 35.74% Upside
As of March 9, 2023,
the average one-year price target for Marvell Technology Group is $58.57.
The forecasts range from a low of $45.45 to a high of $105.00.
The average price target represents an increase of 35.74% from its latest reported closing price of $43.15.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Marvell Technology Group
is $6,165MM, an increase of 4.15%.
The projected annual non-GAAP EPS
is $2.12, a decrease of 2.30% from the prior forecast.
What is the Fund Sentiment?
There are 1591 funds or institutions reporting positions in Marvell Technology Group.
This is a decrease
of
17
owner(s) or 1.06% in the last quarter.
Average portfolio weight of all funds dedicated to MRVL is 0.43%,
a decrease
of 8.11%.
Total shares owned by institutions increased
in the last three months by 0.63% to 798,445K shares.
The put/call ratio of MRVL is 0.89, indicating a
bullish
outlook.
What are Large Shareholders Doing?
FBGRX – Fidelity Blue Chip Growth Fund
holds 26,763K shares
representing 3.14% ownership of the company.
In it’s prior filing, the firm reported owning 25,696K shares, representing
an increase
of 3.98%.
The firm
decreased
its portfolio allocation in MRVL by 16.22% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares
holds 25,910K shares
representing 3.04% ownership of the company.
In it’s prior filing, the firm reported owning 25,327K shares, representing
an increase
of 2.25%.
The firm
decreased
its portfolio allocation in MRVL by 18.45% over the last quarter.
T. Rowe Price Investment Management
holds 25,272K shares
representing 2.96% ownership of the company.
In it’s prior filing, the firm reported owning 23,668K shares, representing
an increase
of 6.35%.
The firm
decreased
its portfolio allocation in MRVL by 11.47% over the last quarter.
Bank Of America
holds 19,777K shares
representing 2.32% ownership of the company.
In it’s prior filing, the firm reported owning 21,738K shares, representing
a decrease
of 9.91%.
The firm
decreased
its portfolio allocation in MRVL by 25.16% over the last quarter.
Price T Rowe Associates
holds 18,789K shares
representing 2.20% ownership of the company.
In it’s prior filing, the firm reported owning 16,743K shares, representing
an increase
of 10.89%.
The firm
decreased
its portfolio allocation in MRVL by 4.88% over the last quarter.
Marvell Technology Group Declares $0.06 Dividend
On December 13, 2022 the company declared a regular
quarterly dividend of $0.06 per share ($0.24 annualized).
Shareholders of record as of January 6, 2023
received the payment on January 25, 2023.
Previously, the company paid $0.06 per share.
At the current share price of $43.15 / share,
the stock’s dividend yield is 0.56%.
Looking back five years and taking a sample every week, the average dividend yield has been
0.77%,
the lowest has been 0.26%,
and the highest has been 1.67%.
The standard deviation of yields is 0.35 (n=236).
The current dividend yield is
0.63 standard deviations
below
the historical average.
Additionally, the company’s dividend payout ratio is -1.25.
The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0)
means 100% of the company’s income is paid in a dividend.
A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a
healthy situation.
Companies with few growth prospects are expected to pay out most of their income in dividends, which typically
means a payout ratio between 0.5 and 1.0.
Companies with good growth prospects are expected to retain some earnings in order to invest
in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
Marvell Technology Background Information
(This description is provided by the company.)
Marvell Technology, Inc. develops and produces semiconductors and related technology. The Company offers security and networking platform, secure data processing, networking, and storage solutions. Marvell Technology serves customers worldwide
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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