Marvell Technology Inc. (NASDAQ:MRVL) trade information

Upright in the red during last session for losing -2.42%, in the last five days MRVL remained trading in the red while hitting it’s week-highest on Tuesday, 09/12/23 when the stock touched $54.49 price level, adding 4.45% to its value on the day. Marvell Technology Inc.’s shares saw a change of 47.11% in year-to-date performance and have moved -2.24% in past 5-day. Marvell Technology Inc. (NASDAQ:MRVL) showed a performance of -5.02% in past 30-days. Number of shares sold short was 18.83 million shares which calculate 1.56 days to cover the short interests.

Wall Street analysts have assigned a consensus price target of $70.97 to the stock, which implies a rise of 23.22% to its current value. Analysts have been projecting $60.00 as a low price target for the stock while placing it at a high target of $100.00. It follows that stock’s current price would drop -83.52% in reaching the projected high whereas dropping to the targeted low would mean a loss of -10.11% for stock’s current value.

Marvell Technology Inc. (MRVL) estimates and forecasts

Statistics highlight that Marvell Technology Inc. is scoring comparatively lower than the scores of other players of the relevant industry. The company added 35.01% of value to its shares in past 6 months, showing an annual growth rate of -27.83% while that of industry is 17.90. Apart from that, the company came lowering its revenue forecast for fiscal year 2023. The company is estimating its revenue growth to decrease by -29.80% in the current quarter and calculating 6.50% increase in the next quarter. This year revenue growth is estimated to fall -6.60% from the last financial year’s standing.

22 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $1.4 billion for the same. And 22 analysts are in estimates of company making revenue of $1.46 billion in the next quarter that will end on Jan 2024.

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 -17.40% during past 5 years. In 2023, company’s earnings growth rate is likely to be around 63.70% while estimates for its earnings growth in next 5 years are of 14.15%.

MRVL Dividends

Marvell Technology Inc. is more likely to be releasing its next quarterly report between November 29 and December 05 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.

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

Insiders are in possession of 0.49% of company’s total shares while institution are holding 87.37 percent of that, with stock having share float percentage of 87.80%. Investors also watch the number of corporate investors in a company very closely, which is 87.37% institutions for Marvell Technology Inc. that are currently holding shares of the company. FMR, LLC is the top institutional holder at MRVL for having 129.0 million shares of worth $7.03 billion. And as of Jun 29, 2023, it was holding 14.95% of the company’s outstanding shares.

The second largest institutional holder is Vanguard Group Inc, which was holding about 69.97 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 8.11% of outstanding shares, having a total worth of $3.81 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 Jul 30, 2023, the former fund manager was holding 27.49 million shares of worth $1.5 billion or 3.19% of the total outstanding shares. The later fund manager was in possession of 26.74 million shares on Jun 29, 2023, making its stake of worth around $1.46 billion in the company or a holder of 3.10% of company’s stock.