Marvell Technology Inc (NASDAQ:MRVL) has a beta value of 1.43 and has seen 2.11 million shares traded in the recent trading session. The company, currently valued at $74.68B, closed the recent trade at $86.22 per share which meant it gained $1.84 on the day or 2.18% during that session. The MRVL stock price is -1.23% off its 52-week high price of $87.28 and 41.6% above the 52-week low of $50.35. If we look at the company’s 10-day average daily trading volume, we find that it stood at 9.49 million shares traded. The 3-month trading volume is 11.25 million shares.
The consensus among analysts is that Marvell Technology Inc (MRVL) is Buy stock at the moment, with a recommendation rating of 1.23. 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 2.18% in the green today, 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 $86.22 or saw a rise of 2.01%. Year-to-date, Marvell Technology Inc shares have moved 42.96%, while the 5-day performance has seen it change 1.59%. Over the past 30 days, the shares of Marvell Technology Inc (NASDAQ:MRVL) have changed 16.96%. Short interest in the company has seen 18.12 million shares shorted with days to cover at 1.7.
Wall Street analysts have a consensus price target for the stock at $90, which means that the shares’ value could jump 4.2% from the levels at last check today.. 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 latest price level in today’s session is -33.38% off the targeted high while a plunge would see the stock lose 38.53% from the levels at last check today..
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 25.54% over the past 6 months, with this year growth rate of -3.31%, compared to 19.20% 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 23.62%.
MRVL Dividends
Marvell Technology Inc is expected to release its next earnings report on 2024-Nov-28 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 0.28%. The company’s dividend yield has gone up over the past 12 months, with a 5 Year Average Dividend Yield of 0.51%.
Marvell Technology Inc (NASDAQ:MRVL)’s Major holders
Insiders own 0.48% of the company shares, while shares held by institutions stand at 92.30% with a share float percentage of 92.75%. Investors are also buoyed by the number of investors in a company, with Marvell Technology Inc having a total of 1585.0 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.
