Marvell Technology Inc (NASDAQ:MRVL) has a beta value of 1.51 and has seen 5.68 million shares traded in the recent trading session. The company, currently valued at $55.74B, closed the recent trade at $64.36 per share which meant it lost -$2.84 on the day or -4.23% during that session. The MRVL stock price is -33.25% off its 52-week high price of $85.76 and 42.67% above the 52-week low of $36.90. If we look at the company’s 10-day average daily trading volume, we find that it stood at 21.61 million shares traded. The 3-month trading volume is 13.48 million shares.
Marvell Technology Inc (NASDAQ:MRVL) trade information
Sporting -4.23% in the red today, the stock has traded in the red over the last five days, when the MRVL stock price touched $64.36 or saw a rise of 8.98%. Year-to-date, Marvell Technology Inc shares have moved 6.72%, while the 5-day performance has seen it change -10.32%. Over the past 30 days, the shares of Marvell Technology Inc (NASDAQ:MRVL) have changed -2.91%. Short interest in the company has seen 20.96 million shares shorted with days to cover at 1.79.
Marvell Technology Inc (MRVL) estimates and forecasts
Figures show that Marvell Technology Inc shares have underperformed across the wider relevant industry. The company’s shares have gained 17.49% over the past 6 months, with this year growth rate of -7.28%, compared to 19.80% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2024 fiscal year revenue. Growth estimates for the current quarter are -22.60% and -12.10% for the next quarter. Revenue growth from the last financial year stood is estimated to be -3.40%.
23 analysts offering their estimates for the company have set an average revenue estimate of $1.17 billion for the current quarter. 23 have an estimated revenue figure of $1.23 billion for the next quarter concluding in Jul 2024.
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 -29.04% over the past 5 years. Earnings growth for 2024 is a modest -5.99% while over the next 5 years, the company’s earnings are expected to increase by 18.20%.
MRVL Dividends
Marvell Technology Inc is expected to release its next earnings report between May 23 and May 27 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 0.37%. The company’s dividend yield has gone up over the past 12 months.
Marvell Technology Inc (NASDAQ:MRVL)’s Major holders
Insiders own 0.50% of the company shares, while shares held by institutions stand at 88.57% with a share float percentage of 89.02%. Investors are also buoyed by the number of investors in a company, with Marvell Technology Inc having a total of 1,404 institutions that hold shares in the company. The top two institutional holders are FMR, LLC with over 129.67 million shares worth more than $8.34 billion. As of Dec 30, 2023, FMR, LLC held 14.97% of shares outstanding.
The other major institutional holder is Vanguard Group Inc, with the holding of over 72.34 million shares as of Dec 30, 2023. The firm’s total holdings are worth over $4.65 billion and represent 8.35% 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 Jan 30, 2024, the former fund manager holds about 3.19% shares in the company for having 27.63 million shares of worth $1.78 billion while later fund manager owns 27.1 million shares of worth $1.74 billion as of Dec 30, 2023, which makes it owner of about 3.13% of company’s outstanding stock.
