Marvell Technology Group Ltd. (NASDAQ: MRVL) is 44.01% higher on its value in year-to-date trading and has touched a low of $16.45 and a high of $39.40 in the current 52-week trading range. The MRVL stock was last observed hovering at around $35.91 in the last trading session, with the day’s gains setting it 2.34% off its average median price target of $42.00 for the next 12 months. It is also 23.5% off the consensus price target high of $50.00 offered by 28 analysts, but current levels are -23.39% lower than the price target low of $31.00 for the same period.
Currently trading at $38.25, the stock is 8.76% and 8.02% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 17.79 million and changing 6.52% at the moment leaves the stock 34.77% off its SMA200. MRVL registered 58.06% gain for a year compared to 6-month gain of 74.18%. The firm has a 50-day simple moving average (SMA 50) of $35.62 and a 200-day simple moving average (SMA200) of $29.49.
The stock witnessed a 6.43% loss in the last 1 month and extending the period to 3 months gives it a 15.98%, and is 14.32% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.34% over the week and 2.71% over the month.
Marvell Technology Group Ltd. (MRVL) has around 5633 employees, a market worth around $23.89B and $2.80B in sales. Current P/E ratio is 19.20 and Fwd P/E is 27.84. Profit margin for the company is 56.60%. Distance from 52-week low is 132.52% and -2.92% from its 52-week high. The company has generated returns on investments over the last 12 months (16.50%).
Marvell Technology Group Ltd. (MRVL) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Marvell Technology Group Ltd. (MRVL) is a “Overweight”. 28 analysts offering their recommendations for the stock have an average rating of 2.00, where 6 rate it as a Hold and 0 think it is a “Overweight”. 21 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.
Marvell Technology Group Ltd. is expected to release its quarterly report on 12/08/2020 and quarterly earnings per share for the current quarter are estimated at $0.25 with sales reaching $750.95M over the same period.The EPS is expected to grow by 873.60% this year, but quarterly earnings will post 9.60% year-over-year. Quarterly sales are estimated to grow 13.40% in year-over-year returns.
Marvell Technology Group Ltd. (MRVL) Top Institutional Holders
722 institutions hold shares in Marvell Technology Group Ltd. (MRVL), with 6.23M shares held by insiders accounting for 0.93% while institutional investors hold 102.29% of the company’s shares. The shares outstanding are 663.55M, and float is at 659.12M with Short Float at 2.27%. Institutions hold 101.34% of the Float.
The top institutional shareholder in the company is Price (T.Rowe) Associates Inc with over 94.13 million shares valued at $3.3 billion. The investor’s holdings represent 14.15% of the MRVL Shares outstanding. As of Jun 29, 2020, the second largest holder is FMR, LLC with 86.12 million shares valued at $3.02 billion to account for 12.94% of the shares outstanding. The other top investors are Vanguard Group, Inc. (The) which holds 62.57 million shares representing 9.40% and valued at over $2.19 billion, while Blackrock Inc. holds 7.04% of the shares totaling 46.81 million with a market value of $1.64 billion.
Marvell Technology Group Ltd. (MRVL) Insider Activity
A total of 156 insider transactions have happened at Marvell Technology Group Ltd. (MRVL) in the last six months, with sales accounting for 80 and purchases happening 76 times. The most recent transaction is an insider sale by MURPHY MATTHEW J, the company’s CEO and President. SEC filings show that MURPHY MATTHEW J sold 7,500 shares of the company’s common stock on Aug 17 at a price of $33.71 per share for a total of $0.25 million. Following the sale, the insider now owns 0.29 million shares.
Marvell Technology Group Ltd. disclosed in a document filed with the SEC on Jul 15 that MURPHY MATTHEW J (CEO and President) sold a total of 7,500 shares of the company’s common stock. The trade occurred on Jul 15 and was made at $36.72 per share for $0.28 million. Following the transaction, the insider now directly holds 0.3 million shares of the MRVL stock.
Still, SEC filings show that on Jul 02, GAYNOR MITCHELL (EVP, CALO) disposed off 16,007 shares at an average price of $35.13 for $0.56 million. The insider now directly holds 54,701 shares of Marvell Technology Group Ltd. (MRVL).
Marvell Technology Group Ltd. (MRVL): Who are the competitors?
The company’s main competitors (and peers) include NVIDIA Corporation (NVDA) that is trading 214.92% up over the past 12 months. Short interest in the company’s stock has risen 6.35% from the last report on Jul 14, 2020 to stand at a total of 14.01 million short shares sold with a short interest ratio of 2.14.