Currently, there are 856.10M common shares owned by the public and among those 854.43M shares have been available to trade.
Insiders at the company have transacted a total of 238 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 109 of these insider trades were purchases, accounting for 1,180,209 shares. Insider sales of the common stock occurred on 129 occasions, with total insider shares sold totaling 958,334 shares.
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The company’s stock has a 5-day price change of 15.64% and 42.38% over the past three months. MRVL shares are trading 31.57% year to date (YTD), with the 12-month market performance up to 71.64% higher. It has a 12-month low price of $36.64 and touched a high of $78.09 over the same period. MRVL has an average intraday trading volume of 11.64 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 15.45%, 19.99%, and 34.96% respectively.
Institutional ownership of Marvell Technology Inc (NASDAQ: MRVL) shares accounts for 84.82% of the company’s 856.10M shares outstanding.
It has a market capitalization of $68.60B and a beta (3y monthly) value of 1.50. 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 3.86% over the week and 3.60% over the month.
Analysts forecast that Marvell Technology Inc (MRVL) will achieve an EPS of $0.46 for the current quarter, $0.4 for the next quarter and $2.01 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 -28.77%, and 32.18% over the next financial year.
Looking at the support for the MRVL, a number of firms have released research notes about the stock. Cantor Fitzgerald stated their Overweight rating for the stock in a research note on January 23, 2024, with the firm’s price target at $80. ROTH MKM coverage for the Marvell Technology Inc (MRVL) stock in a research note released on November 14, 2023 offered a Buy rating with a price target of $60. Susquehanna was of a view on August 23, 2023 that the stock is Positive, while B. Riley Securities gave the stock Buy rating on August 18, 2023, issuing a price target of $60- $75. Wolfe Research on their part issued Outperform rating on July 20, 2023.
