Marvell Technology Inc [NASDAQ: MRVL] loss -0.63% or -0.42 points to close at $66.12 with a heavy trading volume of 9909026 shares. The company report on March 25, 2024 at 9:00 AM that Marvell Demonstrates Industry’s First 200G 3D Silicon Photonics Engine to Scale Accelerated Infrastructure.
Marvell 3D Silicon Photonics Engine is designed to enable higher density, lower power optical interconnects for next-generation AI clusters and cloud data centers.
The industry’s first SiPho Engine with 200 Gbps electrical and optical interfaces, the device delivers 2x the bandwidth and 30% lower power per bit versus comparable devices with 100 Gbps electrical and optical interfaces.
The daily chart for MRVL points out that the company has recorded 26.42% gains over the past six months.
If we look at the average trading volume of 14.01M shares, MRVL reached to a volume of 9909026 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 $88.98 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 1.36. 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.
Summit Insights have made an estimate for Marvell Technology Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 08, 2024. While these analysts kept the previous recommendation, TD Cowen raised their target price from $75 to $90. The new note on the price target was released on March 08, 2024, representing the official price target for Marvell Technology Inc stock. Previously, the target price had yet another raise to $80, while Cantor Fitzgerald analysts kept a Overweight rating on MRVL stock.
The Average True Range (ATR) for Marvell Technology Inc is set at 3.07, with the Price to Sales ratio for MRVL stock in the period of the last 12 months amounting to 10.40. The Price to Book ratio for the last quarter was 3.86, with the Price to Cash per share for the same quarter was set at 1.10. Price to Free Cash Flow for MRVL in the course of the last twelve months was 55.37 with Quick ratio for the last quarter at 1.21.
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 -1.61. With this latest performance, MRVL shares dropped by -2.16% in over the last four-week period, additionally plugging by 26.42% over the last 6 months – not to mention a rise of 56.39% 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 43.33, with the RSI for the last a single of trading hit 39.46, and the three-weeks RSI is set at 46.12 for Marvell Technology Inc [MRVL]. The present Moving Average for the last 50 days of trading for this stock 69.54, while it was recorded at 65.97 for the last single week of trading, and 60.26 for the last 200 days.
Marvell Technology Inc [MRVL]: A deeper dive into fundamental analysis
Marvell Technology Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.21 and a Current Ratio set at 1.69.
Marvell Technology Inc [MRVL]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Marvell Technology Inc posted 0.31/share EPS, while the average EPS was predicted by analysts to be reported at 0.29/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 6.90%. 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 18.20%.
An analysis of Institutional ownership at Marvell Technology Inc [MRVL]
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%.
