On March 3, 2023 at 14:39:45 ET an unusually large $559.61K block of Put contracts in Marvell Technology Group (MRVL) was sold, with a strike price of $40.00 / share, expiring in 105 days (on June 16, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 2.29 sigmas above the mean, placing it in the 97.51 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 all large block option trades are tracked.
Analyst Price Forecast Suggests 36.83% Upside
As of March 3, 2023, the average one-year price target for Marvell Technology Group is $63.26. The forecasts range from a low of $41.41 to a high of $131.25. The average price target represents an increase of 36.83% from its latest reported closing price of $46.23.
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 1584 funds or institutions reporting positions in Marvell Technology Group. This is a decrease of 23 owner(s) or 1.43% in the last quarter. Average portfolio weight of all funds dedicated to MRVL is 0.43%, a decrease of 6.78%. Total shares owned by institutions increased in the last three months by 0.50% to 797,458K shares. The put/call ratio of MRVL is 0.76, 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 99.93% 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 $46.23 / share, the stock’s dividend yield is 0.52%. Looking back five years and taking a sample every week, the average dividend yield has been 0.78%, 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 0.74 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 article originally appeared on Fintel
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