Marvell Technology Inc (NASDAQ:MRVL) price on current trading day, rose 2.55% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $118.96.
A look at the stock’s price movement, the level at last check in today’s session was $116.00, moving within a range at $116.335 and $119.73. The beta value (5-Year monthly) was 1.436. Turning to its 52-week performance, $126.15 and $53.19 were the 52-week high and 52-week low respectively. Overall, MRVL moved -1.50% over the past month.
Marvell Technology Inc’s market cap currently stands at around $102.94 billion, with investors looking forward to this quarter’s earnings report slated for in February. The company has a Forward Dividend ratio of 0.24, with its dividend yield at 0.20%. 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 4.34% 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 4.15% and 13.79% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 59.90, while 7-day volatility ratio is 3.06% and 4.20% in the 30-day chart. Further, Marvell Technology Inc (MRVL) has a beta value of 1.40, and an average true range (ATR) of 4.68. Analysts have given the company’s stock an average 52-week price target of $107.5, forecast between a low of $85 and high of $122. Looking at the price targets, the low is 28.55% off recent price level in today’s trading while to achieve the yearly target high, it has to move -2.56%. Nonetheless, investors will most likely welcome a 9.63% jump to $107.5 which is the analysts’ median price.
If we refocus on Marvell Technology Inc (NASDAQ:MRVL), historical trading data shows that trading volumes averaged 9.77 over the past 10 days and 12.84 million over the past 3 months. The company’s latest data on shares outstanding shows there are 865.20 million shares.
The 0.86% of Marvell Technology Inc’s shares are in the hands of company insiders while institutional holders own 85.19% 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 7.71% 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.
