Marvell Technology Inc. [NASDAQ: MRVL] plunged by -$2.23 during the normal trading session on Friday and reaching a high of $40.935 during the day while it closed the day at $38.68. The company report on March 6, 2023 that Marvell to Showcase Cloud-Optimized Electro-Optics and Networking at OFC 2023.
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Marvell Technology, Inc. (NASDAQ: MRVL), a leader in data infrastructure semiconductor solutions, today announced the details of its participation at the 2023 Optical Networking and Communication (OFC) Conference. OFC is the premier event for optical communications and networking professionals.
Marvell Technology Inc. stock has also loss -12.17% of its value over the past 7 days. However, MRVL stock has declined by -4.28% in the 3 months of the year. Over the past six months meanwhile, it has lost -19.67% and gained 4.43% year-on date.
The market cap for MRVL stock reached $34.90 billion, with 854.10 million shares outstanding and 848.19 million shares in the current float. Compared to the average trading volume of 11.44M shares, MRVL reached a trading volume of 21494338 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say 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 $57.42 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.
Raymond James have made an estimate for Marvell Technology Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on March 02, 2023. While these analysts kept the previous recommendation, Needham dropped their target price from $64 to $50. The new note on the price target was released on December 02, 2022, representing the official price target for Marvell Technology Inc. stock. Previously, the target price had yet another drop from $70 to $55, while Cowen kept a Outperform rating on MRVL stock.
The Average True Range (ATR) for Marvell Technology Inc. is set at 2.21, with the Price to Sales ratio for MRVL stock in the period of the last 12 months amounting to 5.90. The Price to Book ratio for the last quarter was 2.11, with the Price to Cash per share for the same quarter was set at 1.01. Price to Free Cash Flow for MRVL in the course of the last twelve months was 39.75 with Quick ratio for the last quarter at 0.90.
MRVL stock trade performance evaluation
Marvell Technology Inc. [MRVL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -12.17. With this latest performance, MRVL shares dropped by -14.24% in over the last four-week period, additionally sinking by -19.67% over the last 6 months – not to mention a drop of -41.88% 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 37.65, with the RSI for the last a single of trading hit 31.93, and the three-weeks RSI is set at 41.53 for Marvell Technology Inc. [MRVL]. The present Moving Average for the last 50 days of trading for this stock 42.19, while it was recorded at 41.22 for the last single week of trading, and 45.49 for the last 200 days.
Marvell Technology Inc. [MRVL]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Marvell Technology Inc. [MRVL] shares currently have an operating margin of +6.07 and a Gross Margin at +44.36. Marvell Technology Inc.’s Net Margin is presently recorded at -2.76.
Return on Equity for this stock declined to -1.04, with Return on Assets sitting at -0.73.
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.
Earnings per share (EPS) analysis for Marvell Technology Inc. [MRVL] stock
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 19.32%.
Marvell Technology Inc. [MRVL]: Insider Ownership positions
There are presently around $27,289 million, or 86.10% of MRVL stock, in the hands of institutional investors. The top three institutional holders of MRVL stocks are: FMR LLC with ownership of 127,977,149, which is approximately 0.081% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 68,212,358 shares of the stock with an approximate value of $2.64 billion in MRVL stocks shares; and BLACKROCK INC., currently with $2.14 billion in MRVL stock with ownership of nearly -11.339% of the company’s market capitalization.
Positions in Marvell Technology Inc. stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 428 institutional holders increased their position in Marvell Technology Inc. [NASDAQ:MRVL] by around 62,897,187 shares. Additionally, 419 investors decreased positions by around 65,628,455 shares, while 118 investors held positions by with 576,990,640 shares. The mentioned changes placed institutional holdings at 705,516,282 shares, according to the latest SEC report filing. MRVL stock had 117 new institutional investments in for a total of 12,802,002 shares, while 114 institutional investors sold positions of 14,273,324 shares during the same period.