With over 12.78 million Marvell Technology Inc (MRVL) shares trading Friday and a closing price of $65.68 on the day, the dollar volume was approximately $839.34 million. The shares have shown a positive half year performance of 3.51% and its price on 01/12/24 lost nearly -0.29%. Currently, there are 864.50M common shares owned by the public and among those 856.58M shares have been available to trade.
Insiders at the company have transacted a total of 256 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 116 of these insider trades were purchases, accounting for 1,287,451 shares. Insider sales of the common stock occurred on 140 occasions, with total insider shares sold totaling 1,140,330 shares.
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However, the script later moved the day high at 67.14, down -0.29%. The company’s stock has a 5-day price change of 9.61% and 20.25% over the past three months. MRVL shares are trading 8.90% year to date (YTD), with the 12-month market performance up to 70.95% higher. It has a 12-month low price of $36.64 and touched a high of $67.99 over the same period. MRVL has an average intraday trading volume of 9.75 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 8.80%, 16.99%, and 21.71% respectively.
Institutional ownership of Marvell Technology Inc (NASDAQ: MRVL) shares accounts for 83.66% of the company’s 864.50M shares outstanding.
It has a market capitalization of $56.78B and a beta (3y monthly) value of 1.51. The earnings-per-share (ttm) stands at -$0.65. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.97% over the week and 3.24% over the month.
Analysts forecast that Marvell Technology Inc (MRVL) will achieve an EPS of $0.46 for the current quarter, $0.41 for the next quarter and $2.02 for 2025. The lowest estimate earnings-per-share for the quarter is $0.45 while analysts give the company a high EPS estimate of $0.49. Comparatively, EPS for the current quarter was $0.46 a year ago. Earnings per share for the fiscal year are expected to decrease by -28.80%, and 33.38% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 30 brokerage firm advisors rate Marvell Technology Inc (MRVL) as a “Strong Buy” at a consensus score of 1.33. Specifically, 24 Wall Street analysts polled rate the stock as a buy, while 4 of the 30 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the MRVL, a number of firms have released research notes about the stock. ROTH MKM stated their Buy rating for the stock in a research note on November 14, 2023, with the firm’s price target at $60.
