During the recent session, Marvell Technology Inc (NASDAQ:MRVL)’s traded shares were 1.86 million, with the beta value of the company hitting 1.45. At the last check today, the stock’s price was $80.62, reflecting an intraday loss of -2.63% or -$2.18. The 52-week high for the MRVL share is $85.76, that puts it down -6.38 from that peak though still a striking 42.86% gain since the share price plummeted to a 52-week low of $46.07. The company’s market capitalization is $69.83B, and the average intraday trading volume over the past 10 days was 8.27 million shares, and the average trade volume was 11.39 million shares over the past three months.
Marvell Technology Inc (MRVL) received a consensus recommendation of Buy from analysts. That translates to a mean rating of 1.23. MRVL has a Sell rating from 0 analyst(s) out of 27 analysts who have looked at this stock. 2 analyst(s) recommend to Hold the stock while 1 suggest Overweight, and 24 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be 0.41.
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Marvell Technology Inc (NASDAQ:MRVL) trade information
Marvell Technology Inc (MRVL) registered a -2.63% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -2.63% in intraday trading to $80.62, hitting a weekly high. The stock’s 5-day price performance is -1.60%, and it has moved by 11.91% in 30 days. Based on these gigs, the overall price performance for the year is 70.73%. The short interest in Marvell Technology Inc (NASDAQ:MRVL) is 18.12 million shares and it means that shorts have 1.7 day(s) to cover.
The consensus price target of analysts on Wall Street is $90, which implies an increase of 10.42% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $53 and $115 respectively. As a result, MRVL is trading at a discount of -42.64% off the target high and 34.26% off the low.
Marvell Technology Inc (MRVL) estimates and forecasts
Statistics show that Marvell Technology Inc has underperformed its competitors in share price, compared to the industry in which it operates. Marvell Technology Inc (MRVL) shares have gone up 20.92% during the last six months, with a year-to-date growth rate less than the industry average at -3.31% against 18.70. In the rating firms’ projections, revenue will increase 0.60% compared to the previous financial year.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 1.45B as predicted by 26 analyst(s). Meanwhile, a consensus of 26 analyst(s) estimates revenue growth to 1.65B by the end of current fiscal year.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -29.04%. While earnings are projected to return -3.31% in 2024, the next five years will return 23.62% per annum.
MRVL Dividends
Marvell Technology Inc is due to release its next quarterly earnings on 2024-Nov-28. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Marvell Technology Inc is 0.24, with the dividend yield indicating at 0.30 percent, continuing the trend of increasing dividends in recent years. The average dividend yield of the company for the last 5 years is 0.52%.
Marvell Technology Inc (NASDAQ:MRVL)’s Major holders
Marvell Technology Inc insiders own 0.48% of total outstanding shares while institutional holders control 92.25%, with the float percentage being 92.70%. FMR LLC is the largest shareholder of the company, while 1582.0 institutions own stock in it. As of 2024-06-30, the company held over 129.87 million shares (or 15.0142% of all shares), a total value of $9.08 billion in shares.
The next largest institutional holding, with 74.41 million shares, is of VANGUARD GROUP INC’s that is approximately 8.6023% of outstanding shares. At the market price on 2024-06-30, these shares were valued at $5.2 billion.
