In recent trading session, Marvell Technology Group Ltd. (NASDAQ:MRVL) saw 19,906,263 shares changing hands with its beta currently measuring 1.07. Company’s recent per share price level of $37.95 trading at -$1.58 or -3.99% at recent trade assigns it a market valuation of $25.67 Billion. That current trading price of MRVL’s stock is at a discount of -18.68% from its 52-week high price of $45.04 and is indicating a premium of 56.65% from its 52-week low price of $16.45. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 5.95 Million shares which gives us an average trading volume of 7.6 Million if we extend that period to 3-months.
For Marvell Technology Group Ltd. (MRVL), analysts’ consensus is at an average recommendation of Overweight while assigning it a mean rating of 2. Splitting up the data highlights that, out of 29 analysts covering the stock, 1 rated the stock as a Sell while none recommended an Overweight rating for the stock. 7 suggested the stock as a Hold whereas 21 see the stock as a Buy. None analyst(s) advised it as an Underweight. The company is expected to be making an EPS of $0.25 in the current quarter.
Marvell Technology Group Ltd. (NASDAQ:MRVL) trade information
In the face of being in the red today for losing -3.99%, in the last five days MRVL remained trading in the green while hitting it’s week-highest on Monday, Oct 26 when the stock touched $41.89- price level, adding 12.49% to its value on the day. Marvell Technology Group Ltd.’s shares saw a change of 38.03% in year-to-date performance and have moved -10.67% in past 5-day. Marvell Technology Group Ltd. (NASDAQ:MRVL) showed a performance of -6.95% in past 30-days. Number of shares sold short was 18.07 Million shares which calculate 2.38 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of $47.4 to the stock, which implies a rise of 24.9% to its current value. Analysts have been projecting $37 as a low price target for the stock while placing it at a high target of $60. It follows that stock’s current price would jump +58.1% in reaching the projected high whereas dropping to the targeted low would mean a loss of -2.5% for stock’s current value.
Marvell Technology Group Ltd. (MRVL) estimates and forecasts
Statistics highlight that Marvell Technology Group Ltd. is scoring comparatively higher than the scores of other players of the relevant industry. The company added +47.83% of value to its shares in past 6 months, showing an annual growth rate of 39.39% while that of industry is -17.3. Apart from that, the company came raising its revenue forecast for fiscal year 2020. The company is estimating its revenue growth to increase by 47.1% in the current quarter and calculating 70.6% increase in the next quarter. This year revenue growth is estimated to rise 9.6% from the last financial year’s standing.
25 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $750.97 Million for the same. And 25 analysts are in estimates of company making revenue of $787.41 Million in the next quarter that will end in January 01, 2021. Company posted $662.47 Million and $717.67 Million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 13.4% while estimating it to be 9.7% for the next quarter.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 20.3% during past 5 years. In 2020, company’s earnings growth rate is likely to be around 873.6% while estimates for its earnings growth in next 5 years are of 38.95%
Marvell Technology Group Ltd. is more likely to be releasing its next quarterly report between December 01 and December 07, 2020, and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt. With an annual yield of 0.61%, the share has a forward dividend of 0.24 which implies that company’s dividend yield remained growing in trailing twelve months while having a 5 year average dividend yield of 1.42%.
Marvell Technology Group Ltd. (NASDAQ:MRVL)’s Major holders
Insiders are in possession of 0.93% of company’s total shares while institution are holding 101.34% percent of that, with stock having share float percentage of 102.29%. Investors also watch the number of corporate investors in a company very closely, which is 722 institutions for Marvell Technology Group Ltd. that are currently holding shares of the company. Price (T.Rowe) Associates Inc is the top institutional holder at MRVL for having 94.13 Million shares of worth $3.3 Billion. And as of June 29, 2020, it was holding 14.05% of the company’s outstanding shares.
The second largest institutional holder is FMR, LLC, which was holding about 86.12 Million shares on June 29, 2020. The number of shares represents firm’s hold over 12.85% of outstanding shares, having a total worth of $3.02 Billion.
On the other hand, Fidelity Blue Chip Growth Fund and Vanguard Total Stock Market Index Fund are the top two Mutual Funds which own company’s shares. As of July 30, 2020, the former fund manager was holding 26560805 shares of worth $968.67 Million or 3.96% of the total outstanding shares. The later fund manager was in possession of 18.91 Million shares on June 29, 2020, making its stake of worth around $662.93 Million in the company or a holder of 2.82% of company’s stock.