In the last trading session, 13.38 million Marvell Technology Inc (NASDAQ:MRVL) shares changed hands as the company’s beta touched 1.50. With the company’s per share price at $68.26 changed hands at $2.14 or 3.24% during last session, the market valuation stood at $59.11B. MRVL’s last price was a discount, traded about -25.64% off its 52-week high of $85.76. The share price had its 52-week low at $36.90, which suggests the last value was 45.94% up since then. When we look at Marvell Technology Inc’s average trading volume, we note the 10-day average is 16.42 million shares, with the 3-month average coming to 13.94 million.
Marvell Technology Inc (NASDAQ:MRVL) trade information
Instantly MRVL was in green as seen at the end of in last trading. With action 4.92%, the performance over the past five days has been green. The jump to weekly highs of 68.94 added 3.24% to the stock’s daily price. The company’s shares are showing year-to-date upside of 13.18%, with the 5-day performance at 4.92% in the green. However, in the 30-day time frame, Marvell Technology Inc (NASDAQ:MRVL) is -0.52% down. Looking at the short shares, we see there were 20.96 million shares sold at short interest cover period of 1.79 days.
Marvell Technology Inc (MRVL) estimates and forecasts
Data shows that the Marvell Technology Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 29.70% over the past 6 months, a -10.60% in annual growth rate that is considerably lower than the industry average of 18.80%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Marvell Technology Inc will fall -22.60%, while the growth in revenue is estimated to hit -12.10% for the next quarter. Year-over-year growth is forecast to reach -3.30% down from the last financial year.
Consensus estimates given by 23 financial analysts project the company’s revenue in the current quarter to hit an average of $1.17 billion. 23 analysts are of the opinion that Marvell Technology Inc’s revenue for the quarter ending Jul 2024 will be $1.23 billion.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -29.04%. The 2024 estimates are for Marvell Technology Inc earnings to decrease by -5.98%, but the outlook for the next 5-year period is at 18.20% per year.
MRVL Dividends
Marvell Technology Inc is expected to release its next quarterly earnings report between May 23 and May 27. The 0.35% annual yield figure for the share gives it an annual dividend of 0.24. It is important to note, however, that the 0.35% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.
Marvell Technology Inc (NASDAQ:MRVL)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.50% of Marvell Technology Inc shares while 88.58% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 89.03%. There are 88.58% institutions holding the Marvell Technology Inc stock share, with FMR, LLC the top institutional holder. As of Jun 29, 2023, the company held 14.95% of the shares, roughly 129.0 million MRVL shares worth $7.71 billion.
Vanguard Group Inc holds the second largest percentage of outstanding shares, with 8.11% or 69.97 million shares worth $4.18 billion as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jul 30, 2023 were Fidelity Blue Chip Growth Fund and Vanguard Total Stock Market Index Fund. With 27.49 million shares estimated at $1.79 billion under it, the former controlled 3.19% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 3.10% of the shares, roughly 26.74 million shares worth around $1.6 billion.
