In recent trading session, Marvell Technology Inc. (NASDAQ:MRVL) saw 4.45 million shares changing hands at last check today with its beta currently measuring 1.12. Company’s recent per share price level of $80.21 trading at $1.56 or 1.99% at last check today assigns it a market valuation of $66.66B. That most recent trading price of MRVL’s stock is at a discount of -17.01% from its 52-week high price of $93.85 and is indicating a premium of 52.72% from its 52-week low price of $37.92. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 10.85 million shares which gives us an average trading volume of 8.95 million if we extend that period to 3-months.
For Marvell Technology Inc. (MRVL), analysts’ consensus is at an average recommendation of a Buy while assigning it a mean rating of 1.90. Splitting up the data highlights that, out of 30 analysts covering the stock, 0 rated the stock as a Sell while 2 recommended an Overweight rating for the stock. 3 suggested the stock as a Hold whereas 24 see the stock as a Buy. 1 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of $0.48 in the current quarter.
Marvell Technology Inc. (NASDAQ:MRVL) trade information
Upright in the green today for gaining 1.99%, in the last five days MRVL remained trading in the red while hitting it’s week-highest on Wednesday, 01/12/22 when the stock touched $80.21 price level, adding 8.25% to its value on the day. Marvell Technology Inc.’s shares saw a change of -10.10% in year-to-date performance and have moved -8.04% in past 5-day. Marvell Technology Inc. (NASDAQ:MRVL) showed a performance of -7.79% in past 30-days. Number of shares sold short was 18.21 million shares which calculate 1.64 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of $102.68 to the stock, which implies a rise of 21.88% to its recent value today. Analysts have been projecting $80.00 as a low price target for the stock while placing it at a high target of $120.00. It follows that stock’s current price would drop -49.61% in reaching the projected high whereas dropping to the targeted low would mean a gain of 0.26% for stock’s current value.
Marvell Technology Inc. (MRVL) estimates and forecasts
Statistics highlight that Marvell Technology Inc. is scoring comparatively higher than the scores of other players of the relevant industry. The company added 45.73% of value to its shares in past 6 months, showing an annual growth rate of 68.48% while that of industry is 11.70. Apart from that, the company came raising its revenue forecast for fiscal year 2022. The company is estimating its revenue growth to increase by 65.50% in the current quarter and calculating 72.40% increase in the next quarter. This year revenue growth is estimated to rise 49.70% from the last financial year’s standing.
24 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $1.32 billion for the same. And 24 analysts are in estimates of company making revenue of $1.38 billion in the next quarter that will end on Apr 2022.
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 22.10% during past 5 years. In 2022, company’s earnings growth rate is likely to be around -117.70% while estimates for its earnings growth in next 5 years are of 42.82%.
Marvell Technology Inc. is more likely to be releasing its next quarterly report between March 01 and March 07 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 0.31%, 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 0.97%.
Marvell Technology Inc. (NASDAQ:MRVL)’s Major holders
Insiders are in possession of 0.37% of company’s total shares while institution are holding 87.66 percent of that, with stock having share float percentage of 87.99%. Investors also watch the number of corporate investors in a company very closely, which is 87.66% institutions for Marvell Technology Inc. that are currently holding shares of the company. FMR, LLC is the top institutional holder at MRVL for having 119.39 million shares of worth $7.2 billion. And as of Sep 29, 2021, it was holding 14.15% of the company’s outstanding shares.
The second largest institutional holder is Vanguard Group, Inc. (The), which was holding about 73.98 million shares on Sep 29, 2021. The number of shares represents firm’s hold over 8.77% of outstanding shares, having a total worth of $4.46 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 Oct 30, 2021, the former fund manager was holding 24.44 million shares of worth $1.67 billion or 2.90% of the total outstanding shares. The later fund manager was in possession of 23.15 million shares on Sep 29, 2021, making its stake of worth around $1.4 billion in the company or a holder of 2.74% of company’s stock.