Marvell Technology Inc (NASDAQ: MRVL) is 30.54% higher on its value in year-to-date trading and has touched a low of $36.64 and a high of $80.09 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 $79.35 in the last trading session, with the day’s loss setting it -0.62%.
Currently trading at $78.73, the stock is 13.57% and 18.35% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 11.02 million and changing -0.78% at the moment leaves the stock 33.47% off its SMA200. MRVL registered 78.77% gain for a year compared to 6-month gain of 35.86%. The firm has a 50-day simple moving average (SMA 50) of $13.05 and a 200-day simple moving average (SMA200) of $79.51.
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The stock witnessed a 16.59% loss in the last 1 month and extending the period to 3 months gives it a 49.11%, and is 13.89% 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 3.80% over the week and 3.58% over the month.
Marvell Technology Inc (MRVL) has around 7448 employees, a market worth around $68.06B and $5.50B in sales. Fwd P/E is 39.44. Profit margin for the company is -10.11%. Distance from 52-week low is 114.87% and -1.70% from its 52-week high. The company has generated returns on investments over the last 12 months (-2.82%).
Marvell Technology Inc quarterly earnings per share for the current quarter are estimated at $0.46 with sales reaching $1.43B over the same period.The EPS is expected to shrink by -28.77% this year, but quarterly earnings will post -6.60% year-over-year. Quarterly sales are estimated to grow 0.90% in year-over-year returns.
Marvell Technology Inc (MRVL) Top Institutional Holders
1,400 institutions hold shares in Marvell Technology Inc (MRVL), with institutional investors hold 89.17% of the company’s shares. The shares outstanding are 856.10M, and float is at 854.43M with Short Float at 2.63%. Institutions hold 88.72% of the Float.
The top institutional shareholder in the company is FMR, LLC with over 129.0 million shares valued at $7.71 billion. The investor’s holdings represent 14.95% of the MRVL Shares outstanding. As of Jun 29, 2023, the second largest holder is Vanguard Group Inc with 69.97 million shares valued at $4.18 billion to account for 8.11% of the shares outstanding. The other top investors are Blackrock Inc. which holds 58.47 million shares representing 6.78% and valued at over $3.5 billion, while Capital Research Global Investors holds 3.78% of the shares totaling 32.63 million with a market value of $1.95 billion.
Marvell Technology Inc (MRVL) Insider Activity
A total of 50 insider transactions have happened at Marvell Technology Inc (MRVL) in the last six months, with sales accounting for 29 and purchases happening 21 times. The most recent transaction is an insider sale by MURPHY MATTHEW J,the company’sChair of Board, President, CEO. SEC filings show that MURPHY MATTHEW J sold 30,000 shares of the company’s common stock on Feb 15 at a price of $67.67 per share for a total of $2.03 million. Following the sale, the insider now owns 0.76 million shares.
Marvell Technology Inc disclosed in a document filed with the SEC on Feb 15 that Koopmans Chris (EVP, Chief Operations Officer) sold a total of 5,000 shares of the company’s common stock. The trade occurred on Feb 15 and was made at $67.98 per share for $0.34 million. Following the transaction, the insider now directly holds 0.12 million shares of the MRVL stock.
Still, SEC filings show that on Feb 01, Meintjes Willem A (Chief Financial Officer) disposed off 1,000 shares at an average price of $68.20 for $68200.0. The insider now directly holds 103,986 shares of Marvell Technology Inc (MRVL).
Marvell Technology Inc (MRVL): Who are the competitors?
The company’s main competitors (and peers) include NVIDIA Corp. (NVDA) that is trading 269.13% up over the past 12 months. Broadcom Inc. (AVGO) that is 114.79% higher over the same period.
