In the last trading session, 12.2 million Marvell Technology Inc (NASDAQ:MRVL) shares changed hands as the company’s beta touched 1.47. With the company’s per share price at $71.60 changed hands at $2.67 or 3.87% during last session, the market valuation stood at $62.02B. MRVL’s last price was a discount, traded about -19.78% off its 52-week high of $85.76. The share price had its 52-week low at $46.07, which suggests the last value was 35.66% up since then. When we look at Marvell Technology Inc’s average trading volume, we note the 10-day average is 14.78 million shares, with the 3-month average coming to 11.48 million.
Analysts gave the Marvell Technology Inc (MRVL) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.21. If we narrow down to specifics, the data shows that 0 out of 27 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 2 recommended MRVL as a Hold, 24 felt it is a Buy and 0 rated the stock as Underweight. Marvell Technology Inc’s EPS for the current quarter is expected to be 0.41.
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Marvell Technology Inc (NASDAQ:MRVL) trade information
Instantly MRVL was in green as seen at the end of in last trading. With action 2.26%, the performance over the past five days has been green. The company’s shares are showing year-to-date upside of 18.72%, with the 5-day performance at 2.26% in the green. However, in the 30-day time frame, Marvell Technology Inc (NASDAQ:MRVL) is 18.23% up. Looking at the short shares, we see there were 36.51 million shares sold at short interest cover period of 3.19 days.
The consensus price target for the stock as assigned by Wall Street analysts is 90, meaning bulls need an upside of 20.44% from its current market value. According to analyst projections, MRVL’s forecast low is 53 with 115 as the target high. To hit the forecast high, the stock’s price needs a -60.61% plunge from its current level, while the stock would need to tank 25.98% for it to hit the projected low.
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 -1.05% over the past 6 months, a -3.97% in annual growth rate that is considerably lower than the industry average of 16.50%. Year-over-year growth is forecast to reach 0.60% up from the last financial year.
Consensus estimates given by 25 financial analysts project the company’s revenue in the current quarter to hit an average of 1.45B. 25 analysts are of the opinion that Marvell Technology Inc’s revenue for the current quarter will be 1.65B. The estimates for the next quarter sales put growth at 15.50%.
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 -3.18%, but the outlook for the next 5-year period is at 19.06% per year.
MRVL Dividends
Marvell Technology Inc is expected to release its next quarterly earnings report in October. The 0.34% annual yield figure for the share gives it an annual dividend of 0.24. It is important to note, however, that the 0.34% 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. During the past 5 years, the average dividend yield was 0.53 per year.
Marvell Technology Inc (NASDAQ:MRVL)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.48% of Marvell Technology Inc shares while 91.89% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 92.34%. There are 91.89% institutions holding the Marvell Technology Inc stock share, with FMR LLC the top institutional holder. As of 2024-06-30, the company held 15.0142% of the shares, roughly 129.87 million MRVL shares worth $9.08 billion.
VANGUARD GROUP INC holds the second largest percentage of outstanding shares, with 8.6023% or 74.41 million shares worth $5.2 billion as of 2024-06-30.
