In today’s recent session, 3.06 million shares of the Marvell Technology Inc (NASDAQ:MRVL) have been traded, and its beta is 1.39. Most recently the company’s share price was $106.78, and it changed around -$2.34 or -2.15% from the last close, which brings the market valuation of the company to $92.39B. MRVL at last check was trading at a discount to its 52-week high of $127.48, offering almost -19.39% off that amount. The share price’s 52-week low was $53.19, which indicates that the recent value has risen by an impressive 50.19% since then. We note from Marvell Technology Inc’s average daily trading volume that its 10-day average is 13.59 million shares, with the 3-month average coming to 14.20 million.
Marvell Technology Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.33. If we narrow it down even further, the data shows that 0 out of 38 analysts rate the stock as a Sell; another 9 rate it as Overweight. Among the rest, 3 recommended MRVL as a Hold, whereas 26 deemed it a Buy, and 0 rated it as Underweight. Marvell Technology Inc is expected to report earnings per share of 0.59 for the current quarter.
Marvell Technology Inc (NASDAQ:MRVL) trade information
Instantly MRVL has been showing red trend so far today with a performance of -2.15% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 121.81 on recent trading dayincreased the stock’s daily price by 12.34%. The company’s shares are currently down -3.33% year-to-date, but still down -8.32% over the last five days. On the other hand, Marvell Technology Inc (NASDAQ:MRVL) is -7.27% down in the 30-day period. We can see from the shorts that 20.36 million shares have been sold at a short interest cover period of 1.92 day(s).
The consensus price target as assigned by Wall Street analysts is $107.5, which translates to bulls needing to increase their stock price by 0.67% from its current value. Analyst projections state that MRVL is forecast to be at a low of $85 and a high of $122.
Marvell Technology Inc (MRVL) estimates and forecasts
The year-over-year growth rate is expected to be 4.37%, up from the previous year.
Consensus estimates provided by 29 financial analysts predict the company will bring in an average of 1.8B in revenue for the current quarter. 25 analysts expect Marvell Technology Inc to make 1.87B in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 1.43B and 1.16B respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 25.93%. Forecasts for the next quarter put sales growth at 60.88%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -29.04%. Marvell Technology Inc earnings are expected to increase by 3.18% in 2025, but the outlook is positive 34.75% per year for the next five years.
MRVL Dividends
Marvell Technology Inc’s next quarterly earnings report is expected to be released in March. The annual dividend yield of the stock is 0.22 percent and its annual dividend per share was 0.24. It is important to note, however, that the 0.22% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision. The average dividend yield for the past five years averaged 0.5 per year.
Marvell Technology Inc (NASDAQ:MRVL)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.48% of Marvell Technology Inc shares, and 89.39% of them are in the hands of institutional investors. The stock currently has a share float of 89.82%. Marvell Technology Inc stock is held by 1596.0 institutions, with FMR LLC being the largest institutional investor. By 2024-06-30, it held 15.0142% of the shares, which is about 129.87 million shares worth $9.08 billion.
VANGUARD GROUP INC, with 8.6023% or 74.41 million shares worth $5.2 billion as of 2024-06-30, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and Fidelity Blue Chip Growth Fund were the top two Mutual Funds as of Sep 30, 2024. The former held 27.44 shares worth $2.93 billion, making up 3.17% of all outstanding shares. On the other hand, Fidelity Blue Chip Growth Fund held roughly 23.44 shares worth around $2.5 billion, which represents about 2.71% of the total shares outstanding.
