Marvell Technology Inc (NASDAQ:MRVL) shares, rose in value, with the stock price up by 0.53% to the previous day’s close as strong demand from buyers drove the stock to $105.98.
Actively observing the price movement in the recent trading, the stock is buoying the session at $105.42, falling within a range of $103.81 and $106.77. The value of beta (5-year monthly) is 1.436. Referring to stock’s 52-week performance, its high was $127.48, and the low was $53.19. On the whole, MRVL has fluctuated by -8.00% over the past month.
With the market capitalization of Marvell Technology Inc currently standing at about $91.70 billion, investors are eagerly awaiting this quarter’s results, scheduled for in March. The company’s Forward Dividend Ratio is 0.24, with its dividend yield at 0.23%.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 5.75B, with a low estimate of 1.61B and a high estimate of 1.82B. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 1.8B.
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 50% Buy on average. However, medium-term indicators have put the stock in the category of 50% 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 -6.97% and -6.40% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 43.63, while the 7-day volatility ratio is showing 4.44% which for the 30-day chart, stands at 4.38%. Furthermore, Marvell Technology Inc (MRVL)’s beta value is 1.39, and its average true range (ATR) is 5.60.
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 0.53% in today’s session so far, and over the past year, it grew by 50.50%%.
Data on historical trading for Marvell Technology Inc (NASDAQ:MRVL) indicates that the trading volumes over the past 10 days have averaged 13.19 and over the past 3 months, they’ve averaged 14.26 million. According to company’s latest data on outstanding shares, there are 865.20 million shares outstanding.
Nearly 1.24% of Marvell Technology Inc’s shares belong to company insiders and institutional investors own 84.79% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 20.36 million shares as on 2024-11-15, resulting in a short ratio of 1.92. According to the data, the short interest in Marvell Technology Inc (MRVL) stood at 277.00 of shares outstanding as of 2024-11-15; the number of short shares registered in 2024-10-15 reached 18.12 million. The stock has fallen by -4.05% 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.
