Marvell Technology Inc (NASDAQ:MRVL)’s traded shares stood at 6.96 million during the last session, with the company’s beta value hitting 1.45. At the close of trading, the stock’s price was $81.61, to imply a decrease of -0.39% or -$0.32 in intraday trading. The MRVL share’s 52-week high remains $85.76, putting it -5.09% down since that peak but still an impressive 43.55% since price per share fell to its 52-week low of $46.07. The company has a valuation of $70.69B, with an average of 11.15 million shares in intraday trading volume over the past 10 days and average of 11.54 million shares over the past 3 months.
Analysts have given a consensus recommendation of Buy for Marvell Technology Inc (MRVL), translating to a mean rating of 1.23. Of 27 analyst(s) looking at the stock, 0 analyst(s) give MRVL a Sell rating. 1 of those analysts rate the stock as Overweight while 2 advise Hold as 24 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at 0.41.
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Marvell Technology Inc (NASDAQ:MRVL) trade information
After registering a -0.39% downside in the last session, Marvell Technology Inc (MRVL) has traded red over the past five days. The 5-day price performance for the stock is 2.20%, and 11.11% over 30 days. With these gigs, the year-to-date price performance is 35.32%. Short interest in Marvell Technology Inc (NASDAQ:MRVL) saw shorts transact 17.34 million shares and set a 1.38 days time to cover.
The extremes give us $53 and $115 for target low and target high price respectively. As such, MRVL has been trading -40.91% off suggested target high and 35.06% from its likely low.
Marvell Technology Inc (MRVL) estimates and forecasts
Looking at statistics comparing Marvell Technology Inc share performance against respective industry, we note that the company has underperformed competitors. Marvell Technology Inc (MRVL) shares are 17.22% up over the last 6 months, with its year-to-date growth rate lower than industry average at -3.31% against 18.90%. The rating firms project that company’s revenue will grow 0.60% compared to the previous financial year.
Revenue forecast for the current quarter as set by 26 analysts is 1.45B. Meanwhile, for the current quarter, a total of 26 analyst(s) estimate revenue growth to 1.65B.
An assessment of the company’s 5-year growth patterns shows that annual earnings shrunk an estimated -29.04% for the past 5-year period. While 2024 is set for a -3.31% return in earnings, projections for the next 5 years are at 27.23% annually.
MRVL Dividends
Marvell Technology Inc has its next earnings report out on 2024-Nov-28. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Marvell Technology Inc has a forward dividend ratio of 0.24, with the share yield ticking at 0.29% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.52%.
Marvell Technology Inc (NASDAQ:MRVL)’s Major holders
Marvell Technology Inc insiders hold 0.48% of total outstanding shares, with institutional holders owning 92.01% of the shares at 92.46% float percentage. In total, 92.01% institutions holds shares in the company, led by FMR LLC. As of 2024-06-30, the company held over 129.87 million shares (or 15.0142% of shares), all amounting to roughly $9.08 billion.
The next major institution holding the largest number of shares is VANGUARD GROUP INC with 74.41 million shares, or about 8.6023% of shares outstanding. As of the market price on 2024-06-30, these shares were worth $5.2 billion.
We also have Vanguard Total Stock Market Index Fund and Fidelity Blue Chip Growth Fund as the top two Mutual Funds with the largest holdings of the Marvell Technology Inc (MRVL) shares. Going by data provided on Jun 30, 2024 , Vanguard Total Stock Market Index Fund holds roughly 27.38 shares. This is just over 3.09% of the total shares, with a market valuation of $2.23 billion. Data from the same date shows that the other fund manager holds a little less at 27.37, or 3.09% of the shares, all valued at about 2.23 billion.
