Marvell Technology Inc (NASDAQ:MRVL) has a beta value of 1.45 and has seen 24.84 million shares traded in the last trading session. The company, currently valued at $68.78B, closed the last trade at $79.41 per share which meant it gained $1.73 on the day or 2.23% during that session. The MRVL stock price is -8.0% off its 52-week high price of $85.76 and 41.98% above the 52-week low of $46.07. If we look at the company’s 10-day average daily trading volume, we find that it stood at 10.83 million shares traded. The 3-month trading volume is 11.38 million shares.
The consensus among analysts is that Marvell Technology Inc (MRVL) is Buy stock at the moment, with a recommendation rating of 1.21. 0 analysts rate the stock as a Sell, while 1 rate it as Overweight. 2 out of 27 have rated it as a Hold, with 24 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is 0.41.
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Marvell Technology Inc (NASDAQ:MRVL) trade information
Sporting 2.23% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on recent trading when the MRVL stock price touched $79.41 or saw a rise of 3.92%. Year-to-date, Marvell Technology Inc shares have moved 31.67%, while the 5-day performance has seen it change 8.62%. Over the past 30 days, the shares of Marvell Technology Inc (NASDAQ:MRVL) have changed 8.19%. Short interest in the company has seen 17.34 million shares shorted with days to cover at 1.38.
Wall Street analysts have a consensus price target for the stock at $90, which means that the shares’ value could jump 11.77% from current levels. The projected low price target is $53.0 while the price target rests at a high of $115.0. In that case, then, we find that the current price level is -44.82% off the targeted high while a plunge would see the stock lose 33.26% from current levels.
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 16.30% over the past 6 months, with this year growth rate of -3.31%, compared to 19.30% for the industry. Revenue growth from the last financial year stood is estimated to be 0.60%.
26 analysts offering their estimates for the company have set an average revenue estimate of 1.45B for the current quarter. 26 have an estimated revenue figure of 1.65B for the next ending quarter.
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 -3.31% while over the next 5 years, the company’s earnings are expected to increase by 27.23%.
MRVL Dividends
Marvell Technology Inc is expected to release its next earnings report in November 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 0.30%. The company’s dividend yield has gone up over the past 12 months, with a 5 Year Average Dividend Yield of 0.52%.
Marvell Technology Inc (NASDAQ:MRVL)’s Major holders
Insiders own 0.48% of the company shares, while shares held by institutions stand at 91.95% with a share float percentage of 92.39%. Investors are also buoyed by the number of investors in a company, with Marvell Technology Inc having a total of 1579.0 institutions that hold shares in the company. The top two institutional holders are FMR LLC with over 129.87 million shares worth more than $9.08 billion. As of 2024-06-30, FMR LLC held 15.0142% of shares outstanding.
The other major institutional holder is VANGUARD GROUP INC, with the holding of over 74.41 million shares as of 2024-06-30. The firm’s total holdings are worth over $5.2 billion and represent 8.6023% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and Fidelity Blue Chip Growth Fund . As of Jun 30, 2024 , the former fund manager holds about 3.09% shares in the company for having 27.38 shares of worth $2.17 billion while later fund manager owns 27.37 shares of worth $2.17 billion as of Aug 31, 2024 , which makes it owner of about 3.09% of company’s outstanding stock.
