Marvell Tech Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant bullish stance has been taken on Marvell Tech (NASDAQ:MRVL) by a large investor, as indicated by unusual options activity. The overall sentiment of these big-money traders is split between 70% bullish and 30% bearish. The whales have been targeting a price range from $52.5 to $85.0 for Marvell Tech over the last 3 months. The price of MRVL is up 0.82% at $57.81. B. Riley Securities and Morgan Stanley maintain their Buy and Equal-Weight ratings respectively, while Rosenblatt downgraded its action to Buy.
August 31, 2023 | 5:16 pm
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POSITIVE IMPACT
Marvell Tech has seen unusual options activity with a significant bullish stance by a large investor. The price target range is $52.5-$85.0. The stock is currently up 0.82% at $57.81.
The unusual options activity indicates that a large investor has taken a bullish stance on Marvell Tech. This, combined with the current upward trend in the stock price and the maintained Buy and Equal-Weight ratings from B. Riley Securities and Morgan Stanley respectively, suggests a positive short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100