Marvell Technology Inc (NASDAQ:MRVL) shares, rose in value, with the stock price up by 2.05% to the previous day’s close as strong demand from buyers drove the stock to $90.14.
Actively observing the price movement in the last trading, the stock closed the session at $88.33. 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 -20.62% over the past month.
With the market capitalization of Marvell Technology Inc currently standing at about $78.00 billion, investors are eagerly awaiting this quarter’s results, scheduled for in April. The company’s Forward Dividend Ratio is 0.24, with its dividend yield at 0.27%.
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 1.78B and a high estimate of 1.99B. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 1.87B.
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 Hold 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 Hold.
The stock’s technical analysis shows that the price of MRVL currently trading nearly -11.80% and -17.92% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 38.38, while the 7-day volatility ratio is showing 9.11% which for the 30-day chart, stands at 5.82%. Furthermore, Marvell Technology Inc (MRVL)’s beta value is 1.65, and its average true range (ATR) is 6.23.
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 2.05% in last session, and over the past year, it grew by 16.14%%. In comparison, NVIDIA Corp. (NVDA) has moved higher at 1.13%% on the day and was up 32.24% over the past 12 months. On the other hand, the price of Broadcom Inc. (AVGO) has risen 2.19%% on the day. The stock, however, is off 41.91% from where it was a year ago. Additionally, there is a gain of 2.61%% for Qualcomm Inc. (QCOM) in last trading while the stock has seen an overall depriciation of -5.60%% over the past year.
Data on historical trading for Marvell Technology Inc (NASDAQ:MRVL) indicates that the trading volumes over the past 3 months, they’ve averaged 14.93 million. According to company’s latest data on outstanding shares, there are 865.20 million shares outstanding.
Nearly 0.51% of Marvell Technology Inc’s shares belong to company insiders and institutional investors own 85.25% of the company’s shares. The stock has fallen by -18.39% 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.
