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Marvell Technology Inc. (MRVL) Suffers From Weak Fundamental Momentum

Marvell Technology Inc. (NASDAQ:MRVL) has a beta value of 1.45 and has seen 2.72 million shares traded in the recent trading session. The company, currently valued at $35.63B, closed the recent trade at $42.26 per share which meant it lost -$0.49 on the day or -1.13% during that session. The MRVL stock price is -85.02% off its 52-week high price of $78.19 and 20.14% above the 52-week low of $33.75. If we look at the company’s 10-day average daily trading volume, we find that it stood at 11.76 million shares traded. The 3-month trading volume is 11.83 million shares.

The consensus among analysts is that Marvell Technology Inc. (MRVL) is a Buy stock at the moment, with a recommendation rating of 1.80. 0 analysts rate the stock as a Sell, while 2 rate it as Overweight. 2 out of 30 have rated it as a Hold, with 26 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is $0.59.

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Marvell Technology Inc. (NASDAQ:MRVL) trade information

Sporting -1.13% in the red today, the stock has traded in the green over the last five days, with the highest price hit on Monday, 01/23/23 when the MRVL stock price touched $42.26 or saw a rise of 2.29%. Year-to-date, Marvell Technology Inc. shares have moved 15.42%, while the 5-day performance has seen it change 5.11%. Over the past 30 days, the shares of Marvell Technology Inc. (NASDAQ:MRVL) have changed 13.07%. Short interest in the company has seen 17.97 million shares shorted with days to cover at 1.54.

Wall Street analysts have a consensus price target for the stock at $60.92, which means that the shares’ value could jump 30.63% from the levels at last check today. The projected low price target is $41.00 while the price target rests at a high of $125.00. In that case, then, we find that the latest price level in today’s session is -195.79% off the targeted high while a plunge would see the stock lose 2.98% from the levels at last check today.

Marvell Technology Inc. (MRVL) estimates and forecasts

Figures show that Marvell Technology Inc. shares have outperformed across the wider relevant industry. The company’s shares have lost -17.82% over the past 6 months, with this year growth rate of 35.03%, compared to 12.90% for the industry. Other than that, the company has, however, increased its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are 37.20% and 26.00% for the next quarter. Revenue growth from the last financial year stood is estimated to be 37.80%.

24 analysts offering their estimates for the company have set an average revenue estimate of $1.56 billion for the current quarter. 24 have an estimated revenue figure of $1.62 billion for the next quarter concluding in Jan 2023.

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 -41.40% over the past 5 years. Earnings growth for 2023 is a modest -27.40% while over the next 5 years, the company’s earnings are expected to increase by 18.65%.

MRVL Dividends

Marvell Technology Inc. is expected to release its next earnings report between March 01 and March 06 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 0.56%. The company’s dividend yield has gone up over the past 12 months.

Marvell Technology Inc. (NASDAQ:MRVL)’s Major holders

Insiders own 0.59% of the company shares, while shares held by institutions stand at 85.70% with a share float percentage of 86.21%. Investors are also buoyed by the number of investors in a company, with Marvell Technology Inc. having a total of 1,233 institutions that hold shares in the company. The top two institutional holders are FMR, LLC with over 124.83 million shares worth more than $5.43 billion. As of Jun 29, 2022, FMR, LLC held 14.64% of shares outstanding.

The other major institutional holder is Vanguard Group, Inc. (The), with the holding of over 66.09 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $2.88 billion and represent 7.75% 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 Aug 30, 2022, the former fund manager holds about 3.04% shares in the company for having 25.94 million shares of worth $1.21 billion while later fund manager owns 25.05 million shares of worth $1.09 billion as of Jun 29, 2022, which makes it owner of about 2.94% of company’s outstanding stock.

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