Marvell Technology Inc. (NASDAQ:MRVL)’s traded shares stood at 3.14 million during the latest session, with the company’s beta value hitting 1.47. At the last check today, the stock’s price was $39.85, to imply a decrease of -1.26% or -$0.51 in intraday trading. The MRVL share’s 52-week high remains $76.59, putting it -92.2% down since that peak but still an impressive 15.31% since price per share fell to its 52-week low of $33.75. The company has a valuation of $36.42B, with an average of 19.79 million shares in intraday trading volume over the past 10 days and average of 11.99 million shares over the past 3 months.
Analysts have given a consensus recommendation of a Buy for Marvell Technology Inc. (MRVL), translating to a mean rating of 1.80. Of 29 analyst(s) looking at the stock, 0 analyst(s) give MRVL a Sell rating. 2 of those analysts rate the stock as Overweight while 3 advise Hold as 24 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at $0.47.
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Marvell Technology Inc. (NASDAQ:MRVL) trade information
After registering a -1.26% downside in the latest session, Marvell Technology Inc. (MRVL) has traded red over the past five days. The stock hit a weekly high of 40.53 this Thursday, 03/16/23, dropping -1.26% in its intraday price action. The 5-day price performance for the stock is 3.02%, and -14.74% over 30 days. With these gigs, the year-to-date price performance is 7.59%. Short interest in Marvell Technology Inc. (NASDAQ:MRVL) saw shorts transact 19.16 million shares and set a 1.67 days time to cover.
Analysts on Wall Street suggest a consensus price target of $56.35, implying an increase of 29.28% to the stock’s recent value. The extremes give us $45.00 and $100.00 for target low and target high price respectively. As such, MRVL has been trading -150.94% off suggested target high and -12.92% from its likely low.
Marvell Technology Inc. (MRVL) estimates and forecasts
Looking at statistics comparing Marvell Technology Inc. share performance against respective industry, we note that the company has underperformed competitors. Marvell Technology Inc. (MRVL) shares are -14.61% down over the last 6 months, with its year-to-date growth rate lower than industry average at -25.94% against 17.30%. Revenue is forecast to shrink -6.00% this quarter before falling -19.20% for the next one. The rating firms project that company’s revenue will grow 32.30% compared to the previous financial year.
Revenue forecast for the current quarter as set by 23 analysts is $1.4 billion. Meanwhile, for the quarter ending Apr 2023, a total of 23 analyst(s) estimate revenue growth to $1.39 billion.Earnings reports from the last fiscal year show that sales brought in $1.34 billion and $1.45 billion respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 4.30% before dropping -3.90% in the following quarter.
An assessment of the company’s 5-year growth patterns shows that annual earnings shrunk an estimated -17.40% for the past 5-year period. While 2023 is set for a 63.70% return in earnings, projections for the next 5 years are at 19.32% annually.
Marvell Technology Inc. has its next earnings report out between May 24 and May 29. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Marvell Technology Inc. has a forward dividend ratio of 0.24, with the share yield ticking at 0.59% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.
Marvell Technology Inc. (NASDAQ:MRVL)’s Major holders
Marvell Technology Inc. insiders hold 0.58% of total outstanding shares, with institutional holders owning 87.30% of the shares at 87.81% float percentage. In total, 87.30% institutions holds shares in the company, led by FMR, LLC. As of Sep 29, 2022, the company held over 127.87 million shares (or 14.99% of shares), all amounting to roughly $5.49 billion.
The next major institution holding the largest number of shares is Vanguard Group, Inc. (The) with 66.69 million shares, or about 7.82% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $2.86 billion.
We also have Fidelity Blue Chip Growth Fund and Vanguard Total Stock Market Index Fund as the top two Mutual Funds with the largest holdings of the Marvell Technology Inc. (MRVL) shares. Going by data provided on Dec 30, 2022, Fidelity Blue Chip Growth Fund holds roughly 27.14 million shares. This is just over 3.18% of the total shares, with a market valuation of $1.01 billion. Data from the same date shows that the other fund manager holds a little less at 25.33 million, or 2.97% of the shares, all valued at about 1.09 billion.