Marvell Technology Inc. [NASDAQ: MRVL] gained 4.70% or 1.75 points to close at $38.97 with a heavy trading volume of 16068384 shares. The company report on November 3, 2022 that Marvell Technology, Inc. Announces Conference Call to Review Third Quarter of Fiscal Year 2023 Financial Results.
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Marvell Technology, Inc. (NASDAQ: MRVL), a leader in infrastructure semiconductor solutions, today announced it will conduct a conference call following the release of its third quarter of fiscal year 2023 financial results on Thursday, December 1, 2022, at 1:45 p.m. Pacific Time.
It opened the trading session at $38.44, the shares rose to $39.97 and dropped to $37.98, the range by which the price of stock traded the whole day. The daily chart for MRVL points out that the company has recorded -32.52% loss over the past six months. However, it is still -10.4% lower than its most recent low trading price.
If we look at the average trading volume of 11.25M shares, MRVL reached to a volume of 16068384 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Marvell Technology Inc. [MRVL]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MRVL shares is $72.37 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MRVL stock is a recommendation set at 1.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Wells Fargo have made an estimate for Marvell Technology Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on October 11, 2022. While these analysts kept the previous recommendation, Needham dropped their target price from $66 to $64. The new note on the price target was released on October 11, 2022, representing the official price target for Marvell Technology Inc. stock. Previously, the target price had yet another raise to $62, while Exane BNP Paribas analysts kept a Outperform rating on MRVL stock.
The Average True Range (ATR) for Marvell Technology Inc. is set at 2.58, with the Price to Sales ratio for MRVL stock in the period of the last 12 months amounting to 6.01. The Price to Book ratio for the last quarter was 2.14, with the Price to Cash per share for the same quarter was set at 0.72. Price to Free Cash Flow for MRVL in the course of the last twelve months was 46.79 with Quick ratio for the last quarter at 0.90.
Trading performance analysis for MRVL stock
Marvell Technology Inc. [MRVL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.97. With this latest performance, MRVL shares dropped by -18.74% in over the last four-week period, additionally sinking by -32.52% over the last 6 months – not to mention a drop of -45.53% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MRVL stock in for the last two-week period is set at 44.82, with the RSI for the last a single of trading hit 46.64, and the three-weeks RSI is set at 43.88 for Marvell Technology Inc. [MRVL]. The present Moving Average for the last 50 days of trading for this stock 43.27, while it was recorded at 38.93 for the last single week of trading, and 55.42 for the last 200 days.
Marvell Technology Inc. [MRVL]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Marvell Technology Inc. [MRVL] shares currently have an operating margin of -5.68 and a Gross Margin at +46.24. Marvell Technology Inc.’s Net Margin is presently recorded at -9.44.
Return on Equity for this stock declined to -3.49, with Return on Assets sitting at -2.56.
Marvell Technology Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.40.
Marvell Technology Inc. [MRVL]: An earnings per share (EPS) analysis
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MRVL. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Marvell Technology Inc. go to 42.14%.
An analysis of insider ownership at Marvell Technology Inc. [MRVL]
There are presently around $27,119 million, or 85.70% of MRVL stock, in the hands of institutional investors. The top three institutional holders of MRVL stocks are: FMR LLC with ownership of 124,827,357, which is approximately 3.023% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 66,091,890 shares of the stock with an approximate value of $2.58 billion in MRVL stocks shares; and BLACKROCK INC., currently with $2.5 billion in MRVL stock with ownership of nearly -8.823% of the company’s market capitalization.
Positions in Marvell Technology Inc. stocks held by institutional investors increased at the end of December and at the time of the December reporting period, where 440 institutional holders increased their position in Marvell Technology Inc. [NASDAQ:MRVL] by around 57,259,175 shares. Additionally, 427 investors decreased positions by around 51,863,958 shares, while 132 investors held positions by with 586,781,987 shares. The mentioned changes placed institutional holdings at 695,905,120 shares, according to the latest SEC report filing. MRVL stock had 120 new institutional investments in for a total of 11,534,823 shares, while 132 institutional investors sold positions of 7,206,514 shares during the same period.