In the last trading session, 9,431,068 shares of the Marvell Technology Group Ltd. (NASDAQ:MRVL) were traded, and its beta was 1.16. Most recently the company’s share price was $50.85, and it changed around -$0.22 or 0% from the last close, which brings the market valuation of the company to $34.36 Billion. MRVL currently trades at a discount to its 52-week high of $55.7, offering almost -9.54% off that amount. The share price’s 52-week low was $23.86, which indicates that the current value has risen by an impressive 53.08% since then. We note from Marvell Technology Group Ltd.’s average daily trading volume that its 10-day average is 9.71 Million shares, with the 3-month average coming to 11.37 Million.
Marvell Technology Group Ltd. stock received a consensus recommendation rating of Buy, based on a mean score of 2. If we narrow it down even further, the data shows that none out of 29 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, 5 recommended MRVL as a Hold, whereas 23 deemed it a Buy, and 1 rated it as Underweight. Marvell Technology Group Ltd. is expected to report earnings per share of $0.27 for the current quarter.
Marvell Technology Group Ltd. (NASDAQ:MRVL): Trading Information
Although MRVL has showed a red trend with a performance of -0.43% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of $51.22 on Tuesday, Apr 06 increased the stock’s daily price by 0.72%. The company’s shares are currently up 0.07% year-to-date, but still up 0.0933 over the last five days. On the other hand, Marvell Technology Group Ltd. (NASDAQ:MRVL) is 0.23% up in the 30-day period. We can see from the shorts that 41.35 Million shares have been sold at a short interest cover period of 3.64 day (s).
The consensus price target as assigned by Wall Street analysts is $54.44, which translates to bears needing to increase their stock price by 7.06% from its current value. Analyst projections state that MRVL is forecast to be at a low of $40 and a high of $64. In order for the stock price to hit the forecast high, the stock would need to surge +25.86% from its current level, while the stock would need to crash -21.34% from its current level to reach the projected low.
Marvell Technology Group Ltd. (MRVL) projections and forecasts
Marvell Technology Group Ltd. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +27.86 percent over the past six months and at a 48.91% annual growth rate that is well above the industry average of 47.1%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain +50% in revenue this quarter, and will report an increase of 47.6% in the next quarter. The year-over-year growth rate is expected to be 17.6%, up from the previous year.
Consensus estimates provided by 25 financial analysts predict the company will bring in an average of $801.09 Million in revenue for the current quarter. 25 analysts expect Marvell Technology Group Ltd. to make $840.29 Million in revenue for the quarter ending July 01, 2021. The company’s sales for the same quarter a year ago was $679.68 Million. Analysts predict that the company’s current quarter sales will jump, forecast at 17.9%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 22.1%. Marvell Technology Group Ltd. earnings are expected to decrease by -117.7% in 2021, but the outlook is positive 37% per year for the next five years.
Even if you’re not actively in crypto, you deserve to know what’s actually going on...
Because while leading assets such as Bitcoin (BTC) and Ethereum (ETH) are climbing in value, a select group of public “crypto stocks” are surging right along with them. More importantly, these stocks are outpacing the returns these leading crypto assets aren already producing.
Click here to get the full story… along with our long list of backdoor Bitcoin strategies. It’s free.
MRVL Dividend Yield
Marvell Technology Group Ltd.’s next quarterly earnings report is expected to be released around May 26 – May 31, 2021. The annual dividend yield of the stock is 0.48 percent and its annual dividend per share was $0.24. It is important to note, however, that the 0.48% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision. The average dividend yield for the past five years averaged 1.21% per year.
Marvell Technology Group Ltd. (NASDAQ:MRVL)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 0.25% of Marvell Technology Group Ltd. shares, and 93.75% of them are in the hands of institutional investors. The stock currently has a share float of 93.98%. Marvell Technology Group Ltd. stock is held by 976 institutions, with FMR, LLC being the largest institutional investor. By Dec 30, 2020, it held 14.91% of the shares, which is about 100.77 Million shares worth $4.79 Billion.
Price (T.Rowe) Associates Inc, with 11.66% or 78.78 Million shares worth $3.75 Billion as of Dec 30, 2020, holds the second largest percentage of outstanding shares.
Fidelity Blue Chip Growth Fund and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Feb 27, 2021. The former held 25319623 shares worth $1.22 Billion, making up 3.75% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 18.82 Million shares worth around $894.65 Million, which represents about 2.79% of the total shares outstanding.