Marvell Tech's Options: A Look at What the Big Money is Thinking
Portfolio Pulse from Benzinga Insights
Recent options trading activity for Marvell Tech (NASDAQ:MRVL) shows a bearish sentiment among investors, with 58% of trades being bearish and 42% bullish. The trading volume and open interest suggest a price target range of $30.0 to $95.0. Notable options activity includes both bullish and bearish positions, with significant trades for both puts and calls. Marvell Technology, a leading fabless chip designer, currently has its stock price slightly down at $67.29, with analysts giving an average target price of $79.0. The company is approaching its next earnings release in 20 days.
February 16, 2024 | 3:46 pm
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NEUTRAL IMPACT
Marvell Tech's bearish options sentiment contrasts with analysts' average target price of $79. The stock is slightly down, with upcoming earnings in 20 days potentially influencing its price.
The bearish sentiment in options trading could put short-term pressure on MRVL's stock price. However, the analysts' optimistic target prices and the upcoming earnings report could counterbalance this sentiment. The mixed signals make the short-term impact uncertain, hence a neutral score.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100