Marvell Technology Inc (NASDAQ:MRVL) shares, rose in value on Friday, November 22, with the stock price up by 0.01% to the previous day’s close as strong demand from buyers drove the stock to $92.95.
Actively observing the price movement in the recent trading, the stock is buoying the session at $92.94, falling within a range of $92.51 and $94.78. The value of beta (5-year monthly) is 1.436. Referring to stock’s 52-week performance, its high was $95.09, and the low was $50.35. On the whole, MRVL has fluctuated by 13.45% over the past month.
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With the market capitalization of Marvell Technology Inc currently standing at about $80.51 billion, investors are eagerly awaiting this quarter’s results, scheduled for in December. The company’s Forward Dividend Ratio is 0.24, with its dividend yield at 0.26%.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 5.53B, with a low estimate of 1.41B and a high estimate of 1.52B. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 1.46B.
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 100% Buy 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 4.83% and 15.21% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 65.32, while the 7-day volatility ratio is showing 2.83% which for the 30-day chart, stands at 2.99%. Furthermore, Marvell Technology Inc (MRVL)’s beta value is 1.45, and its average true range (ATR) is 2.94.
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 0.01% in today’s session so far, and over the past year, it grew by 67.48%%.
Data on historical trading for Marvell Technology Inc (NASDAQ:MRVL) indicates that the trading volumes over the past 10 days have averaged 8.42 and over the past 3 months, they’ve averaged 10.90 million. According to company’s latest data on outstanding shares, there are 865.50 million shares outstanding.
Nearly 0.86% of Marvell Technology Inc’s shares belong to company insiders and institutional investors own 85.15% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 18.19 million shares as on 2024-10-31, resulting in a short ratio of 1.81. According to the data, the short interest in Marvell Technology Inc (MRVL) stood at 248.00 of shares outstanding as of 2024-10-31; the number of short shares registered in 2024-09-30 reached 17.34 million. The stock has risen by 54.12% 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.
