$338.4K put option trade on Marvell Technology, unusual.

Unusual Put Option Trade in Marvell Technology (MRVL) – $338.40K Block Bought

On July 12, 2023 at 15:11:14 ET, there was an unusually large $338.40K block of Put contracts purchased in Marvell Technology (MRVL). These contracts have a strike price of $62.50 per share and will expire in 65 days, on September 15, 2023. This trade was identified by Fintel, which tracks large options trades, and it was found to be in the 87.64th percentile of all recent large trades made in MRVL options. The premium spent on this trade was 2.07 sigmas above the mean, indicating its significant nature.

This trade was first detected using Fintel’s real-time Options Flow tool, which highlights unusual option trades in the market.

Fund Sentiment towards Marvell Technology

Currently, there are 1604 funds or institutions reporting positions in Marvell Technology. This represents an increase of 12 owners (0.75%) compared to the previous quarter. On average, all funds dedicated to MRVL have a portfolio weight of 0.48%, which is a decrease of 1.25% from the previous quarter. The total shares owned by institutions have increased by 6.82% in the last three months, reaching 850,370K shares. The put/call ratio of MRVL is currently 1.10, indicating a bearish outlook.

Analyst Price Forecast and Revenue Projection

Based on the average one-year price target for Marvell Technology as of July 6, 2023, the forecast suggests a 9.80% upside. The price targets range from a low of $55.55 to a high of $105.00. This average price target represents an increase of 9.80% from the latest reported closing price of $62.15. Additionally, the projected annual revenue for Marvell Technology is $6,174MM, showing an increase of 4.30%.

Shareholder Activity

Several institutional shareholders hold significant stakes in Marvell Technology. Notable shareholders include:

• Price T Rowe Associates, which holds 42,010K shares representing 4.89% ownership of the company. This represents an increase of 55.27% from the previous filing.
• Ofi Invest Asset Management, holding 31,209K shares representing 3.63% ownership of the company.
• FBGRX – Fidelity Blue Chip Growth Fund, holding 27,569K shares representing 3.21% ownership of the company. This represents a 1.23% increase from the previous filing.
• T. Rowe Price Investment Management, holding 26,751K shares representing 3.11% ownership of the company. This represents a 5.53% increase from the previous filing.
• VTSMX – Vanguard Total Stock Market Index Fund Investor Shares, holding 26,406K shares representing 3.07% ownership of the company. This represents a 1.88% increase from the previous filing.

Dividend Information

On June 16, 2023, Marvell Technology declared a regular quarterly dividend of $0.06 per share ($0.24 annualized). Shareholders of record as of July 7, 2023, will receive the payment on July 26, 2023. The current share price of $62.15 results in a dividend yield of 0.39%. Historical data shows that the average dividend yield over the past five years has been 0.73%, with a low of 0.26% and a high of 1.67%. The standard deviation of yields is 0.34 (n=235).

Furthermore, Marvell Technology’s dividend payout ratio is -1.26, indicating that the company is not currently paying out dividends from its income. A payout ratio greater than one suggests the company is using savings to maintain its dividend, which is generally not regarded as a healthy situation. The company has not increased its dividend in the last three years.

About Marvell Technology

Marvell Technology, Inc. is a semiconductor and technology company that develops and produces security, networking, and storage solutions. They serve customers worldwide.

Key filings for Marvell Technology can be found on Source