Marvell Technology Inc (NASDAQ:MRVL) price on current trading day, fall -3.50% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $114.02.
A look at the stock’s price movement, the level at last check in today’s session was $118.15, moving within a range at $112.1 and $116.58. The beta value (5-Year monthly) was 1.436. Turning to its 52-week performance, $119.88 and $50.35 were the 52-week high and 52-week low respectively. Overall, MRVL moved 30.77% over the past month.
Marvell Technology Inc’s market cap currently stands at around $98.76 billion, with investors looking forward to this quarter’s earnings report slated for in January. The company has a Forward Dividend ratio of 0.24, with its dividend yield at 0.21%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report.
Analysts have a consensus estimate of 1.8B for the company’s revenue for the quarter, with a low and high estimate of 1.61B and 1.82B respectively. The average forecast suggests up to a 25.90% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 5.75B, representing a 4.33% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that MRVL is a 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
27 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 2 analyst(s) rate the stock as a Hold, 24 recommend MRVL as a Buy and 1 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
MRVL’s current price about 20.79% and 34.27% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 74.73, while 7-day volatility ratio is 5.13% and 3.53% in the 30-day chart. Further, Marvell Technology Inc (MRVL) has a beta value of 1.45, and an average true range (ATR) of 4.92. Analysts have given the company’s stock an average 52-week price target of $95, forecast between a low of $85 and high of $122. Looking at the price targets, the low is 25.45% off recent price level in today’s trading while to achieve the yearly target high, it has to move -7.0%. Nonetheless, investors will most likely welcome a 16.68% jump to $95 which is the analysts’ median price.
If we refocus on Marvell Technology Inc (NASDAQ:MRVL), historical trading data shows that trading volumes averaged 16.09 over the past 10 days and 11.29 million over the past 3 months. The company’s latest data on shares outstanding shows there are 866.20 million shares.
The 0.86% of Marvell Technology Inc’s shares are in the hands of company insiders while institutional holders own 85.22% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 20.36 million on 2024-11-15, giving us a short ratio of 1.92. The data shows that as of 2024-11-15 short interest in Marvell Technology Inc (MRVL) stood at 277.0 of shares outstanding, with shares short rising to 18.12 million registered in 2024-10-15. Current price change has pushed the stock 89.06% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the MRVL stock continues to rise going into the next quarter.
