Marvell Technology Inc [NASDAQ: MRVL] traded at a low on Friday, posting a -1.92 loss after which it closed the day’ session at $70.16.
The results of the trading session contributed to over 14245319 shares changing hands. Over the past one week, the price volatility of Marvell Technology Inc stands at 4.61% while the volatility over the past one month is 3.85%.
The market cap for MRVL stock reached $60.76 billion, with 865.50 million shares outstanding and 855.99 million shares in the current float. Compared to the average trading volume of 14.56M shares, MRVL reached a trading volume of 14245319 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus 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 $88.81 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 3.17, with the Price to Sales ratio for MRVL stock in the period of the last 12 months amounting to 11.03. The Price to Book ratio for the last quarter was 4.09, 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 58.75 with Quick ratio for the last quarter at 1.21.
How has MRVL stock performed recently?
Marvell Technology Inc [MRVL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.43. With this latest performance, MRVL shares gained by 3.74% in over the last four-week period, additionally plugging by 27.24% over the last 6 months – not to mention a rise of 77.49% 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 48.41, with the RSI for the last a single of trading hit 45.76, and the three-weeks RSI is set at 49.86 for Marvell Technology Inc [MRVL]. The present Moving Average for the last 50 days of trading for this stock 70.33, while it was recorded at 71.68 for the last single week of trading, and 61.00 for the last 200 days.
Marvell Technology Inc [MRVL]: Deeper insight into the fundamentals
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.
Earnings analysis for Marvell Technology Inc [MRVL]
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%.
Insider trade positions for Marvell Technology Inc [MRVL]
The top three institutional holders of MRVL stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in MRVL stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in MRVL stock with ownership which is approximately 5.8386%.
