In last trading session, Marvell Technology Inc (NASDAQ:MRVL) saw 17.41 million shares changing hands with its beta currently measuring 1.49. Company’s recent per share price level of $66.59 trading at $1.05 or 1.60% at ring of the bell on the day assigns it a market valuation of $57.67B. That closing price of MRVL’s stock is at a discount of -28.79% from its 52-week high price of $85.76 and is indicating a premium of 44.59% from its 52-week low price of $36.90. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 20.91 million shares which gives us an average trading volume of 13.75 million if we extend that period to 3-months.
Marvell Technology Inc (NASDAQ:MRVL) trade information
Upright in the green during last session for gaining 1.60%, in the last five days MRVL remained trading in the green while hitting it’s week-highest on Thursday, 03/21/24 when the stock touched $66.59 price level, adding 2.87% to its value on the day. Marvell Technology Inc’s shares saw a change of 10.41% in year-to-date performance and have moved 0.77% in past 5-day. Marvell Technology Inc (NASDAQ:MRVL) showed a performance of 1.63% in past 30-days. Number of shares sold short was 20.96 million shares which calculate 1.79 days to cover the short interests.
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 25.78% of value to its shares in past 6 months, showing an annual growth rate of -7.28% while that of industry is 18.40. Apart from that, the company came lowering its revenue forecast for fiscal year 2024. The company is estimating its revenue growth to decrease by -22.60% in the current quarter and calculating -12.10% decrease in the next quarter. This year revenue growth is estimated to fall -3.30% from the last financial year’s standing.
23 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $1.17 billion for the same. And 23 analysts are in estimates of company making revenue of $1.23 billion in the next quarter that will end on Jul 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 -29.04% during past 5 years. In 2024, company’s earnings growth rate is likely to be around -5.99% while estimates for its earnings growth in next 5 years are of 18.20%.
MRVL Dividends
Marvell Technology Inc is more likely to be releasing its next quarterly report between May 23 and May 27 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 0.50% of company’s total shares while institution are holding 88.57 percent of that, with stock having share float percentage of 89.02%. Investors also watch the number of corporate investors in a company very closely, which is 88.57% institutions for Marvell Technology Inc that are currently holding shares of the company. FMR, LLC is the top institutional holder at MRVL for having 129.67 million shares of worth $8.63 billion. And as of Dec 30, 2023, it was holding 14.97% of the company’s outstanding shares.
The second largest institutional holder is Vanguard Group Inc, which was holding about 72.34 million shares on Dec 30, 2023. The number of shares represents firm’s hold over 8.35% of outstanding shares, having a total worth of $4.82 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 Jan 30, 2024, the former fund manager was holding 27.63 million shares of worth $1.84 billion or 3.19% of the total outstanding shares. The later fund manager was in possession of 27.1 million shares on Dec 30, 2023, making its stake of worth around $1.8 billion in the company or a holder of 3.13% of company’s stock.
