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Marvell Technology Inc (MRVL) Stock Could Soon Reward Patient Investors

Marvell Technology Inc (NASDAQ: MRVL) is 22.02% higher on its value in year-to-date trading and has touched a low of $36.90 and a high of $85.76 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 $73.20 in the last trading session, with the day’s gains setting it 0.39%.

Currently trading at $73.59, the stock is 3.19% and 5.23% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 12.33 million and changing 0.53% at the moment leaves the stock 21.72% off its SMA200. MRVL registered 70.15% gain for a year compared to 6-month gain of 35.95%. The firm has a 50-day simple moving average (SMA 50) of $12.21 and a 200-day simple moving average (SMA200) of $79.03.

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The stock witnessed a -5.18% loss in the last 1 month and extending the period to 3 months gives it a 22.02%, and is 11.30% 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 3.20% over the week and 3.75% over the month.

Marvell Technology Inc (MRVL) has around 6577 employees, a market worth around $63.73B and $5.51B in sales. Fwd P/E is 30.00. Profit margin for the company is -16.95%. Distance from 52-week low is 99.43% and -14.19% from its 52-week high. The company has generated returns on investments over the last 12 months (-4.84%).

Marvell Technology Inc quarterly earnings per share for the current quarter are estimated at $0.24 with sales reaching $1.17B over the same period.The EPS is expected to shrink by -5.98% this year, but quarterly earnings will post -3.30% year-over-year.

Marvell Technology Inc (MRVL) Top Institutional Holders

1,410 institutions hold shares in Marvell Technology Inc (MRVL), with institutional investors hold 89.03% of the company’s shares. The shares outstanding are 865.50M, and float is at 855.97M with Short Float at 2.43%. Institutions hold 88.59% 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

The most recent transaction is an insider sale by Meintjes Willem A,the company’sChief Financial Officer. SEC filings show that Meintjes Willem A sold 1,000 shares of the company’s common stock on Apr 01 ’24 at a price of $71.50 per share for a total of $71500.0. Following the sale, the insider now owns 0.1 million shares.

Marvell Technology Inc disclosed in a document filed with the SEC on Mar 18 ’24 that Meintjes Willem A (Chief Financial Officer) sold a total of 1,000 shares of the company’s common stock. The trade occurred on Mar 18 ’24 and was made at $67.79 per share for $67790.0. Following the transaction, the insider now directly holds 0.1 million shares of the MRVL stock.

Still, SEC filings show that on Mar 15 ’24, Koopmans Chris (EVP, Chief Operations Officer) disposed off 5,000 shares at an average price of $66.44 for $0.33 million. The insider now directly holds 114,117 shares of Marvell Technology Inc (MRVL).

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