On August 29, 2023 at 10:10:49 ET an unusually large $315.00K block of Put contracts in Marvell Technology (MRVL) was sold, with a strike price of $47.50 / share, expiring in 52 day(s) (on October 20, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 1.46 sigmas above the mean, placing it in the 92.77th percentile of all recent large trades made in MRVL options.
This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.
What is the Fund Sentiment?
There are 1677 funds or institutions reporting positions in Marvell Technology. This is an increase of 77 owner(s) or 4.81% in the last quarter. Average portfolio weight of all funds dedicated to MRVL is 0.46%, an increase of 3.37%. Total shares owned by institutions increased in the last three months by 0.58% to 850,448K shares. The put/call ratio of MRVL is 1.07, indicating a bearish outlook.
Analyst Price Forecast Suggests 29.04% Upside
As of August 2, 2023, the average one-year price target for Marvell Technology is 71.19. The forecasts range from a low of 60.60 to a high of $105.00. The average price target represents an increase of 29.04% from its latest reported closing price of 55.17.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Marvell Technology is 6,174MM, an increase of 9.89%. The projected annual non-GAAP EPS is 2.11, a decrease of 0.38% from the prior forecast.
What are Other Shareholders Doing?
Capital Research Global Investors holds 32,635K shares representing 3.78% ownership of the company. In it’s prior filing, the firm reported owning 247K shares, representing an increase of 99.24%. The firm increased its portfolio allocation in MRVL by 17,021.17% over the last quarter.
Price T Rowe Associates holds 30,837K shares representing 3.57% ownership of the company. In it’s prior filing, the firm reported owning 42,010K shares, representing a decrease of 36.23%. The firm increased its portfolio allocation in MRVL by 112.83% over the last quarter.
FBGRX – Fidelity Blue Chip Growth Fund holds 27,569K shares representing 3.20% ownership of the company. In it’s prior filing, the firm reported owning 27,231K shares, representing an increase of 1.23%. The firm decreased its portfolio allocation in MRVL by 11.06% over the last quarter.
T. Rowe Price Investment Management holds 26,818K shares representing 3.11% ownership of the company. In it’s prior filing, the firm reported owning 26,751K shares, representing an increase of 0.25%. The firm increased its portfolio allocation in MRVL by 31.50% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 26,745K shares representing 3.10% ownership of the company. In it’s prior filing, the firm reported owning 26,406K shares, representing an increase of 1.27%. The firm increased its portfolio allocation in MRVL by 29.01% over the last quarter.
Marvell Technology Declares $0.06 Dividend
On June 16, 2023 the company declared a regular quarterly dividend of $0.06 per share ($0.24 annualized). Shareholders of record as of July 7, 2023 received the payment on July 26, 2023. Previously, the company paid $0.06 per share.
At the current share price of $55.17 / share, the stock’s dividend yield is 0.44%.
Looking back five years and taking a sample every week, the average dividend yield has been 0.71%, the lowest has been 0.26%, and the highest has been 1.67%. The standard deviation of yields is 0.34 (n=235).
The current dividend yield is 0.82 standard deviations below the historical average.
Additionally, the company’s dividend payout ratio is -0.55. 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
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