Marvell Technology Group Ltd. (NASDAQ:MRVL) has a beta value of 1.19 and has seen 2,354,181 shares traded in the recent trading session. The company, currently valued at $33.56 Billion, closed the recent trade at $49.78 per share which meant it lost -$0.86 on the day or -1.71% during that session. The MRVL stock price is -2.91% off its 52-week high price of $51.23 and 66.95% above the 52-week low of $16.45. If we look at the company’s 10-day average daily trading volume, we find that it stood at 8.47 Million shares traded. The 3-month trading volume is 8.99 Million shares.
The consensus among analysts is that Marvell Technology Group Ltd. (MRVL) is an Overweight stock at the moment, with a recommendation rating of 2. 1 analysts rate the stock as a Sell, while none rate it as Overweight. 6 out of 28 have rated it as a Hold, with 21 advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is $0.29.
Marvell Technology Group Ltd. (NASDAQ:MRVL) trade information
Despite being -1.71% in the red today, the stock has traded in the green over the last five days, with the highest price hit on Tuesday, Jan 12 when the MRVL stock price touched $51.23- or saw a rise of 2.48%. Year-to-date, Marvell Technology Group Ltd. shares have moved 5.09%, while the 5-day performance has seen it change 7.42%. Over the past 30 days, the shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) have changed 16.35%. Short interest in the company has seen 31.98 Million shares shorted with days to cover at 3.56.
Wall Street analysts have a consensus price target for the stock at $51.92, which means that the shares’ value could jump 4.3% from current levels. The projected low price target is $39 while the price target rests at a high of $60. In that case, then, we find that the latest price level in today’s session is +20.53% off the targeted high while a plunge would see the stock lose -21.66% from current levels.
Marvell Technology Group Ltd. (MRVL) estimates and forecasts
Figures show that Marvell Technology Group Ltd. shares have outperformed across the wider relevant industry. The company’s shares have gained +36.02% over the past 6 months, with this year growth rate of 40.91%, compared to 28.8% for the industry. Other than that, the company has, however, increased its growth outlook for the 2021 fiscal year revenue. Growth estimates for the current quarter are 70.6% and 50% for the next quarter. Revenue growth from the last financial year stood is estimated to be +9.6%.
24 analysts offering their estimates for the company have set an average revenue estimate of $786.1 Million for the current quarter. 25 have an estimated revenue figure of $792.76 Million for the next quarter concluding in April 01, 2021. Year-ago sales stood $717.67 Million and $679.68 Million respectively for this quarter and the next, and analysts expect sales will grow by 9.5% for the current quarter and 16.6% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was +20.3% over the past 5 years. Earnings growth for 2021 is a modest +873.6% while over the next 5 years, the company’s earnings are expected to increase by 37%.
Marvell Technology Group Ltd. is expected to release its next earnings report between February 02 and February 08 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 0.24 at a share yield of 0.47%. The company’s dividend yield has gone up over the past 12 months, with a 5 Year Average Dividend Yield of 1.31%.
Marvell Technology Group Ltd. (NASDAQ:MRVL)’s Major holders
Insiders own 0.91% of the company shares, while shares held by institutions stand at 91.41% with a share float percentage of 92.25%. Investors are also buoyed by the number of investors in a company, with Marvell Technology Group Ltd. having a total of 853 institutions that hold shares in the company. The top two institutional holders are FMR, LLC with over 99.39 Million shares worth more than $3.95 Billion. As of September 29, 2020, FMR, LLC held 14.79% of shares outstanding.
The other major institutional holder is Price (T.Rowe) Associates Inc, with the holding of over 84.59 Million shares as of September 29, 2020. The firm’s total holdings are worth over $3.36 Billion and represent 12.59% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Fidelity Blue Chip Growth Fund and Vanguard Total Stock Market Index Fund. As of November 29, 2020, the former fund manager holds about 3.88% shares in the company for having 26038744 shares of worth $1.21 Billion while later fund manager owns 18.68 Million shares of worth $741.63 Million as of September 29, 2020, which makes it owner of about 2.78% of company’s outstanding stock.
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