This Is What Whales Are Betting On Marvell Tech
Portfolio Pulse from Benzinga Insights
High-rolling investors have shown a bullish sentiment on Marvell Tech (NASDAQ:MRVL), with significant options trading activity indicating a targeted price range of $50.0 to $95.0. The trading volume and open interest trends suggest a keen interest in MRVL's options, with a mix of bullish and bearish sentiments among the trades. Marvell Technology, a leading fabless chip designer, is currently trading at $72.05, with a neutral RSI indicator and an earnings announcement expected in 51 days. Analysts have issued a consensus target price of $92.6 for MRVL, with varying ratings from Buy to Overweight.
April 02, 2024 | 3:16 pm
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Marvell Tech has seen significant options trading activity, with a bullish sentiment from high-rolling investors targeting a price range of $50.0 to $95.0. The stock is currently trading at $72.05, with a neutral RSI indicator. Analysts have a consensus target price of $92.6 for MRVL, indicating a positive outlook.
The significant options trading activity, especially the bullish sentiment among high-rolling investors, suggests a positive short-term impact on MRVL's stock price. The analyst consensus target price of $92.6 further supports this bullish outlook. However, the mixed sentiments in the options trades and the current neutral RSI indicator introduce some uncertainty, hence the confidence score is not at the maximum.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100