For Marvell Technology Inc [MRVL], Analyst sees a rise to $80. What next?

Marvell Technology Inc [NASDAQ: MRVL] stock went on an upward path that rose over 1.54% on Monday, amounting to a one-week price increase of more than 3.51%. The company report on February 26, 2024 at 7:40 AM that Marvell to Showcase Carrier Infrastructure at MWC 2024.

Industry-leading compute and connectivity products advancing 5G networks.

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Marvell Technology, Inc. (NASDAQ: MRVL), a leader in data infrastructure semiconductor solutions, today announced it will showcase its latest product and partner portfolio for carrier infrastructure at MWC Barcelona 2024, the world’s largest connectivity event, taking place February 26-29, 2024.

Over the last 12 months, MRVL stock rose by 51.65%. The one-year Marvell Technology Inc stock forecast points to a potential upside of 5.91. The average equity rating for MRVL stock is currently 1.32, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $59.32 billion, with 856.10 million shares outstanding and 854.43 million shares in the current float. Compared to the average trading volume of 11.57M shares, MRVL stock reached a trading volume of 6263237 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $72.93 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 1.32. 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.

Cantor Fitzgerald have made an estimate for Marvell Technology Inc shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on January 23, 2024. While these analysts kept the previous recommendation, ROTH MKM raised their target price to Buy. The new note on the price target was released on November 14, 2023, representing the official price target for Marvell Technology Inc stock. Previously, the target price had yet another raise from $60 to $70, while Susquehanna kept a Positive rating on MRVL stock. On August 18, 2023, analysts increased their price target for MRVL shares from 60 to 75.

The Average True Range (ATR) for Marvell Technology Inc is set at 2.66, with the Price to Sales ratio for MRVL stock in the period of the last 12 months amounting to 10.79. The Price to Book ratio for the last quarter was 3.89, with the Price to Cash per share for the same quarter was set at 0.84. Price to Free Cash Flow for MRVL in the course of the last twelve months was 69.29 with Quick ratio for the last quarter at 1.08.

MRVL Stock Performance Analysis:

Marvell Technology Inc [MRVL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.51. With this latest performance, MRVL shares dropped by -1.97% in over the last four-week period, additionally plugging by 19.78% over the last 6 months – not to mention a rise of 51.65% 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 53.65, with the RSI for the last a single of trading hit 53.22, and the three-weeks RSI is set at 54.65 for Marvell Technology Inc [MRVL]. The present Moving Average for the last 50 days of trading for this stock 65.13, while it was recorded at 67.33 for the last single week of trading, and 58.18 for the last 200 days.

Insight into Marvell Technology Inc Fundamentals:

Marvell Technology Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.08 and a Current Ratio set at 1.58.

MRVL Stock EPS

With the latest financial reports released by the company, Marvell Technology Inc posted 0.46/share EPS, while the average EPS was predicted by analysts to be reported at 0.47/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -2.10%. 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 12.27%.

Marvell Technology Inc [MRVL] Institutonal Ownership Details

The top three institutional holders of MRVL stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in MRVL stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in MRVL stock with ownership which is approximately 5.8325%.