During the last session, Marvell Technology Inc (NASDAQ:MRVL)’s traded shares were 21.34 million, with the beta value of the company hitting 1.50. At the end of the trading day, the stock’s price was $66.08, reflecting an intraday loss of -2.29% or -$1.55. The 52-week high for the MRVL share is $85.76, that puts it down -29.78 from that peak though still a striking 44.39% gain since the share price plummeted to a 52-week low of $36.75. The company’s market capitalization is $57.13B, and the average intraday trading volume over the past 10 days was 22.46 million shares, and the average trade volume was 13.29 million shares over the past three months.
Marvell Technology Inc (NASDAQ:MRVL) trade information
Marvell Technology Inc (MRVL) registered a -2.29% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -2.29% in intraday trading to $66.08, hitting a weekly high. The stock’s 5-day price performance is -22.34%, and it has moved by -3.01% in 30 days. Based on these gigs, the overall price performance for the year is 71.15%. The short interest in Marvell Technology Inc (NASDAQ:MRVL) is 20.96 million shares and it means that shorts have 1.79 day(s) to cover.
Marvell Technology Inc (MRVL) estimates and forecasts
Statistics show that Marvell Technology Inc has underperformed its competitors in share price, compared to the industry in which it operates. Marvell Technology Inc (MRVL) shares have gone up 18.85% during the last six months, with a year-to-date growth rate less than the industry average at -7.28% against 20.60. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -19.40% this quarter and then drop -9.10% in the quarter after that. In the rating firms’ projections, revenue will decrease -1.00% compared to the previous financial year.
Revenue for the current quarter is expected to be $1.18 billion as predicted by 24 analyst(s). Meanwhile, a consensus of 24 analyst(s) estimates revenue growth to $1.25 billion by the end of Jul 2024.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -29.04%. While earnings are projected to return -5.99% in 2024, the next five years will return 16.14% per annum.
MRVL Dividends
Marvell Technology Inc is due to release its next quarterly earnings between May 23 and May 27. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Marvell Technology Inc is 0.24, with the dividend yield indicating at 0.36 percent, continuing the trend of increasing dividends in recent years.
Marvell Technology Inc (NASDAQ:MRVL)’s Major holders
Marvell Technology Inc insiders own 0.50% of total outstanding shares while institutional holders control 88.71%, with the float percentage being 89.16%. FMR, LLC is the largest shareholder of the company, while 1,402 institutions own stock in it. As of Jun 29, 2023, the company held over 129.0 million shares (or 14.95% of all shares), a total value of $7.71 billion in shares.
The next largest institutional holding, with 69.97 million shares, is of Vanguard Group Inc’s that is approximately 8.11% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $4.18 billion.
Also, the Mutual Funds coming in first place with the largest holdings of Marvell Technology Inc (MRVL) shares are Fidelity Blue Chip Growth Fund and Vanguard Total Stock Market Index Fund. Data provided on Jul 30, 2023 indicates that Fidelity Blue Chip Growth Fund owns about 27.49 million shares. This amounts to just over 3.19 percent of the company’s overall shares, with a $1.79 billion market value. The same data shows that the other fund manager holds slightly less at 26.74 million, or about 3.10% of the stock, which is worth about $1.6 billion.
