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Will Marvell Technology Inc. (MRVL) benefit from Wall Street bulls Calls?

Marvell Technology Inc. (NASDAQ: MRVL) is 6.59% higher on its value in year-to-date trading and has touched a low of $33.75 and a high of $78.65 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 $38.57 in the last trading session, with the day’s gains setting it 0.91% off its average median price target of $56.50 for the next 12 months. It is also 68.42% off the consensus price target high of $125.00 offered by 30 analysts, but current levels are 3.71% higher than the price target low of $41.00 for the same period.

Currently trading at $39.48, the stock is 5.00% and -2.24% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 15.85 million and changing 2.36% at the moment leaves the stock -18.08% off its SMA200. MRVL registered -48.65% loss for a year compared to 6-month loss of -27.65%.

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The stock witnessed a 2.81% gain in the last 1 month and extending the period to 3 months gives it a 3.62%, and is 0.43% 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 4.33% over the week and 4.29% over the month.

Marvell Technology Inc. (MRVL) has around 6695 employees, a market worth around $32.91B and $5.84B in sales. Fwd P/E is 19.09. Profit margin for the company is -2.40%. Distance from 52-week low is 16.98% and -49.80% from its 52-week high. The company has generated returns on investments over the last 12 months (-1.40%).

Marvell Technology Inc. (MRVL) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Marvell Technology Inc. (MRVL) is a “Buy”. 30 analysts offering their recommendations for the stock have an average rating of 1.80, where 2 rate it as a Hold and 2 think it is a “Overweight”. 26 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Marvell Technology Inc. is expected to release its quarterly report on 03/03/2023.The EPS is expected to shrink by -27.40% this year.

Marvell Technology Inc. (MRVL) Top Institutional Holders

The shares outstanding are 852.60M, and float is at 848.19M with Short Float at 1.81%.

Marvell Technology Inc. (MRVL) Insider Activity

A total of 78 insider transactions have happened at Marvell Technology Inc. (MRVL) in the last six months, with sales accounting for 41 and purchases happening 37 times. The most recent transaction is an insider sale by Meintjes Willem A,the company’sSVP, Chief Accounting Officer. SEC filings show that Meintjes Willem A sold 10,000 shares of the company’s common stock on Jan 06 at a price of $34.92 per share for a total of $0.35 million. Following the sale, the insider now owns 72896.0 shares.

Marvell Technology Inc. disclosed in a document filed with the SEC on Oct 15 that GAYNOR MITCHELL (EVP, CALO) sold a total of 5,000 shares of the company’s common stock. The trade occurred on Oct 15 and was made at $39.61 per share for $0.2 million. Following the transaction, the insider now directly holds 0.1 million shares of the MRVL stock.

Still, SEC filings show that on Oct 03, YOUSEFI NARIMAN (EVP, Automotive, Coherent DSP) disposed off 10,000 shares at an average price of $45.00 for $0.45 million. The insider now directly holds 274,144 shares of Marvell Technology Inc. (MRVL).

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

The company’s main competitors (and peers) include NVIDIA Corporation (NVDA) that is trading -28.83% down over the past 12 months and Broadcom Inc. (AVGO) that is 1.21% higher over the same period. QUALCOMM Incorporated (QCOM) is -28.74% down on the 1-year trading charts.

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