Currently, there are 865.50M common shares owned by the public and among those 855.04M shares have been available to trade.
The company’s stock has a 5-day price change of 3.87% and 46.99% over the past three months. MRVL shares are trading 40.56% year to date (YTD), with the 12-month market performance up to 77.71% higher. It has a 12-month low price of $46.33 and touched a high of $85.76 over the same period. MRVL has an average intraday trading volume of 11.34 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 6.54%, 13.25%, and 19.92% respectively.
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Institutional ownership of Marvell Technology Inc (NASDAQ: MRVL) shares accounts for 87.38% of the company’s 865.50M shares outstanding.
It has a market capitalization of $77.70B and a beta (3y monthly) value of 1.44. The earnings-per-share (ttm) stands at -$1.12. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.26% over the week and 3.40% over the month.
Earnings per share for the fiscal year are expected to decrease by -3.31%, and 71.80% over the next financial year. EPS should grow at an annualized rate of 23.62% over the next five years, compared to -29.04% over the past 5-year period.
Looking at the support for the MRVL, a number of firms have released research notes about the stock. Jefferies stated their Buy rating for the stock in a research note on May 13, 2024, with the firm’s price target at $98-$85. Evercore ISI coverage for the Marvell Technology Inc (MRVL) stock in a research note released on April 16, 2024 offered a Outperform rating with a price target of $88. Summit Insights was of a view on March 08, 2024 that the stock is Buy, while TD Cowen gave the stock Outperform rating on March 08, 2024, issuing a price target of $75- $90. Cantor Fitzgerald on their part issued Overweight rating on January 23, 2024.
