Behind the Scenes of Marvell Tech's Latest Options Trends
Portfolio Pulse from Benzinga Insights
Recent options trading activity for Marvell Tech (NASDAQ:MRVL) shows a bullish sentiment among investors, with 60% of trades being bullish and 40% bearish. The trading activity suggests a target price range of $42.5 to $77.5 for the next three months. The largest options trades indicate a mix of bullish and bearish sentiments for different expiration dates and strike prices. Marvell Technology, a leading fabless chip designer, currently has its stock price at $65.45, down by -1.27%, with an upcoming earnings report in 16 days. An analyst from Cantor Fitzgerald recently downgraded the stock to Overweight with a target price of $80.
February 20, 2024 | 8:15 pm
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Marvell Tech shows bullish options trading activity, with a significant price range target and a recent downgrade by Cantor Fitzgerald to Overweight with a price target of $80. The stock is currently down by -1.27%.
The bullish sentiment in options trading, combined with the recent analyst downgrade to Overweight but with a high price target, suggests a positive outlook for MRVL in the short term. The upcoming earnings report could be a significant catalyst for the stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100