Marvell Technology Inc (NASDAQ:MRVL) shares, rose in value, with the stock price down by -1.68% to the previous day’s close as strong demand from buyers drove the stock to $71.55.
Actively observing the price movement in the last trading, the stock closed the session at $72.77, falling within a range of $71.41 and $74.06. The value of beta (5-year monthly) was 1.453. Referring to stock’s 52-week performance, its high was $85.76, and the low was $46.07. On the whole, MRVL has fluctuated by 0.72% over the past month.
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With the market capitalization of Marvell Technology Inc currently standing at about $61.98 billion, investors are eagerly awaiting this quarter’s results, scheduled for in October. The company’s Forward Dividend Ratio is 0.24, with its dividend yield at 0.34%.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 5.54B, with a low estimate of 1.38B and a high estimate of 1.52B. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 1.45B.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that MRVL’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium-term indicators have put the stock in the category of Hold while long-term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the price of MRVL currently trading nearly 0.66% and 4.98% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 52.34, while the 7-day volatility ratio is showing 3.26% which for the 30-day chart, stands at 4.43%. Furthermore, Marvell Technology Inc (MRVL)’s beta value is 1.46, and its average true range (ATR) is 3.35.
A comparison of Marvell Technology Inc (MRVL) with its peers suggests the former has fared considerably weaker in the market. MRVL showed an intraday change of -1.68% in last session, and over the past year, it grew by 30.61%%.
Data on historical trading for Marvell Technology Inc (NASDAQ:MRVL) indicates that the trading volumes over the past 10 days have averaged 10.63 and over the past 3 months, they’ve averaged 11.49 million. According to company’s latest data on outstanding shares, there are 865.50 million shares outstanding.
Nearly 1.31% of Marvell Technology Inc’s shares belong to company insiders and institutional investors own 87.25% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 21.01 million shares as on 2024-08-30, resulting in a short ratio of 1.68. According to the data, the short interest in Marvell Technology Inc (MRVL) stood at 286.00 of shares outstanding as of 2024-08-30; the number of short shares registered in 2024-07-31 reached 35.53 million. The stock has risen by 18.64% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the MRVL stock heading into the next quarter.
