Now Is A Suitable Moment For A Long-Term Purchase Of Marvell Technology Inc (NASDAQ: MRVL)

Currently, there are 865.50M common shares owned by the public and among those 855.97M shares have been available to trade.

The company’s stock has a 5-day price change of 6.44% and 15.70% over the past three months. MRVL shares are trading 17.53% year to date (YTD), with the 12-month market performance up to 75.23% higher. It has a 12-month low price of $36.90 and touched a high of $85.76 over the same period. MRVL has an average intraday trading volume of 14.38 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 -0.98%, 1.66%, and 17.42% respectively.

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Institutional ownership of Marvell Technology Inc (NASDAQ: MRVL) shares accounts for 84.76% of the company’s 865.50M shares outstanding.

It has a market capitalization of $61.38B and a beta (3y monthly) value of 1.50. The earnings-per-share (ttm) stands at -$1.08. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.17% over the week and 3.96% over the month.

Analysts forecast that Marvell Technology Inc (MRVL) will achieve an EPS of $0.24 for the current quarter, $0.29 for the next quarter and $2.39 for 2026. The lowest estimate earnings-per-share for the quarter is $0.23 while analysts give the company a high EPS estimate of $0.5. Comparatively, EPS for the current quarter was $0.31 a year ago. Earnings per share for the fiscal year are expected to decrease by -5.98%, and 72.81% over the next financial year. EPS should grow at an annualized rate of 18.20% over the next five years, compared to -29.04% over the past 5-year period.

TD Cowen coverage for the Marvell Technology Inc (MRVL) stock in a research note released on March 08, 2024 offered a Outperform rating with a price target of $90. Cantor Fitzgerald was of a view on January 23, 2024 that the stock is Overweight, while ROTH MKM gave the stock Buy rating on November 14, 2023, issuing a price target of $60. Susquehanna on their part issued Positive rating on August 23, 2023.

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