Is Marvell Technology Group Ltd. (MRVL) a good stock to buy now?

Marvell Technology Group Ltd. (NASDAQ: MRVL) is 9.15% higher on its value in year-to-date trading and has touched a low of $16.45 and a high of $55.70 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The MRVL stock was last observed hovering at around $50.47 in the last trading session, with the day’s gains setting it 1.42% off its average median price target of $55.00 for the next 12 months. It is also 18.92% off the consensus price target high of $64.00 offered by 28 analysts, but current levels are -33.05% lower than the price target low of $39.00 for the same period.

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Currently trading at $51.89, the stock is -0.18% and 5.42% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 9.96 million and changing 2.81% at the moment leaves the stock 29.31% off its SMA200. MRVL registered 106.49% gain for a year compared to 6-month gain of 56.72%. The firm has a 50-day simple moving average (SMA 50) of $51.25 and a 200-day simple moving average (SMA200) of $43.42.

The stock witnessed a -4.05% loss in the last 1 month and extending the period to 3 months gives it a 20.77%, and is -0.42% down 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 3.94% over the week and 3.34% over the month.

Marvell Technology Group Ltd. (MRVL) has around 5633 employees, a market worth around $33.91B and $2.89B in sales. Current P/E ratio is 24.94 and Fwd P/E is 37.74. Profit margin for the company is 51.20%. Distance from 52-week low is 215.44% and -6.84% 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 06/03/2021 and quarterly earnings per share for the current quarter are estimated at $0.29 with sales reaching $794.71M over the same period.The EPS is expected to grow by 873.60% this year, but quarterly earnings will post 10.50% year-over-year. Quarterly sales are estimated to grow 10.70% in year-over-year returns.

Marvell Technology Group Ltd. (MRVL) Top Institutional Holders

853 institutions hold shares in Marvell Technology Group Ltd. (MRVL), with 6.1M shares held by insiders accounting for 0.91% while institutional investors hold 92.25% of the company’s shares. The shares outstanding are 670.49M, and float is at 665.68M with Short Float at 5.51%. Institutions hold 91.41% of the Float.

The top institutional shareholder in the company is FMR, LLC with over 100.77 million shares valued at $4.79 billion. The investor’s holdings represent 15.00% of the MRVL Shares outstanding. As of Sep 29, 2020, the second largest holder is Price (T.Rowe) Associates Inc with 84.59 million shares valued at $3.36 billion to account for 12.59% of the shares outstanding. The other top investors are Vanguard Group, Inc. (The) which holds 60.43 million shares representing 8.99% and valued at over $2.4 billion, while Blackrock Inc. holds 8.71% of the shares totaling 58.52 million with a market value of $2.78 billion.

Marvell Technology Group Ltd. (MRVL) Insider Activity

A total of 136 insider transactions have happened at Marvell Technology Group Ltd. (MRVL) in the last six months, with sales accounting for 78 and purchases happening 58 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 Feb 16 at a price of $53.20 per share for a total of $0.4 million. Following the sale, the insider now owns 0.28 million shares.

Marvell Technology Group Ltd. disclosed in a document filed with the SEC on Feb 16 that Hu Jean X. (Chief Financial Officer) sold a total of 10,000 shares of the company’s common stock. The trade occurred on Feb 16 and was made at $54.10 per share for $0.54 million. Following the transaction, the insider now directly holds 89253.0 shares of the MRVL stock.

Still, SEC filings show that on Jan 15, Micallef Andrew (COO) disposed off 10,000 shares at an average price of $51.49 for $0.51 million. The insider now directly holds 88,194 shares of Marvell Technology Group Ltd. (MRVL).

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Marvell Technology Group Ltd. (MRVL): Who are the competitors?

The company’s main competitors (and peers) include NVIDIA Corporation (NVDA) that is trading 93.41% up over the past 12 months. Short interest in the company’s stock has risen 12.86% from the last report on Dec 30, 2020 to stand at a total of 31.98 million short shares sold with a short interest ratio of 4.24.

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