In the last trading session, 9.33 million shares of the Marvell Technology Inc (NASDAQ:MRVL) were traded, and its beta was 1.49. Most recently the company’s share price was $62.88, and it changed around $0.75 or 1.21% from the last close, which brings the market valuation of the company to $54.45B. MRVL currently trades at a discount to its 52-week high of $85.76, offering almost -36.39% off that amount. The share price’s 52-week low was $36.90, which indicates that the current value has risen by an impressive 41.32% since then. We note from Marvell Technology Inc’s average daily trading volume that its 3-month average coming to 14.26 million.
Marvell Technology Inc stock received a consensus recommendation rating of Hold, based on a mean score of 1.36. If we narrow it down even further, the data shows that 1 out of 24 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 12 recommended MRVL as a Hold, whereas 10 deemed it a Buy, and 0 rated it as Underweight. Marvell Technology Inc is expected to report earnings per share of $0.24 for the current quarter.
Marvell Technology Inc (NASDAQ:MRVL) trade information
Instantly MRVL has showed a green trend with a performance of 1.21% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently up 4.26% year-to-date, but still down -7.37% over the last five days. On the other hand, Marvell Technology Inc (NASDAQ:MRVL) is -5.57% down in the 30-day period.
The consensus price target as assigned by Wall Street analysts is $80, which translates to bulls needing to increase their stock price by 21.4% from its current value. Analyst projections state that MRVL is forecast to be at a low of $53 and a high of $115.
Marvell Technology Inc (MRVL) estimates and forecasts
Marvell Technology Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 24.05 percent over the past six months and at a -10.60% annual growth rate that is well below the industry average of 18.30%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -22.60% in revenue this quarter, and will report a decrease of -12.10% in the next quarter. The year-over-year growth rate is expected to be -3.20%, down from the previous year.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -29.04%. Marvell Technology Inc earnings are expected to increase by -5.54% in 2024, but the outlook is positive 18.20% per year for the next five years.
MRVL Dividends
Marvell Technology Inc’s next quarterly earnings report is expected to be released in May. The annual dividend yield of the stock is 0.38 percent and its annual dividend per share was 0.24. It is important to note, however, that the 0.38% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.
