The stock of Marvell Technology Inc. (NASDAQ:MRVL) last traded at $44.00, up 0.16% from the previous session.
MRVL stock price is now 4.09% away from the 50-day moving average and -18.75% away from the 200-day moving average. The market capitalization of the company currently stands at $37.45B.
With the price target of $56, Credit Suisse recently initiated with Outperform rating for Marvell Technology Inc. (NASDAQ: MRVL). On October 11, 2022, Wells Fargo Upgraded its previous ‘Equal Weight’ rating to ‘Overweight’ on the stock keeping its target price maintained at $58, while ‘Needham’ rates the stock as ‘Buy’.
In other news, GAYNOR MITCHELL, EVP, CALO sold 5,000 shares of the company’s stock on Oct 15. The stock was sold for $198,050 at an average price of $39.61. Upon completion of the transaction, the EVP, CALO now directly owns 103,429 shares in the company, valued at $4.55 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 03, EVP, Automotive, Coherent DSP YOUSEFI NARIMAN sold 10,000 shares of the business’s stock. A total of $450,000 was realized by selling the stock at an average price of $45.00. This leaves the insider owning 274,144 shares of the company worth $12.06 million. Insiders disposed of 2,287,153 shares of company stock worth roughly $100.63 million over the past 1 year. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in MRVL stock. A new stake in Marvell Technology Inc. shares was purchased by T. ROWE PRICE INVESTMENT MANAGEMENT, INC. during the first quarter worth $1,041,407,000. FRED ALGER MANAGEMENT, LLC invested $146,030,000 in shares of MRVL during the first quarter. In the first quarter, JERICHO CAPITAL ASSET MANAGEMENT L.P. acquired a new stake in Marvell Technology Inc. valued at approximately $79,443,000. ATREIDES MANAGEMENT, LP acquired a new stake in MRVL for approximately $64,683,000. COATUE MANAGEMENT LLC purchased a new stake in MRVL valued at around $47,155,000 in the second quarter. In total, there are 1,233 active investors with 86.20% ownership of the company’s stock.
With an opening price of $44.85 on Friday morning, Marvell Technology Inc. (NASDAQ: MRVL) set off the trading day. During the past 12 months, Marvell Technology Inc. has had a low of $35.30 and a high of $93.85. As of last week, the company has a debt-to-equity ratio of 0.30, a current ratio of 1.40, and a quick ratio of 0.90. The fifty day moving average price for MRVL is $42.16 and a two-hundred day moving average price translates $54.03 for the stock.
The latest earnings results from Marvell Technology Inc. (NASDAQ: MRVL) was released for Jul, 2022. According to the Semiconductors Company, earnings per share came in at $0.57, beating analysts’ expectations of $0.56 by 0.01. This compares to -$0.34 EPS in the same period last year. The net profit margin was -3.90% and return on equity was -1.40% for MRVL. The company reported revenue of $1.52 billion for the quarter, compared to $1.08 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 40.99 percent. For the current quarter, analysts expect MRVL to generate $1.56B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 10/26/2022. Investors who held shares on 10/07/2022 were paid a $0.06 dividend. On an annualized basis, this represents a $0.24 dividend and a 0.55% percent yield. There was an ex-dividend date of 10/06/2022 for this dividend.
Marvell Technology Inc.(MRVL) Company Profile
Marvell Technology, Inc., together with its subsidiaries, designs, develops, and sells analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a portfolio of Ethernet solutions, including controllers, network adapters, physical transceivers, and switches; single or multiple core processors; ASIC; and printer System-on-a-Chip products and application processors. The company also provides a range of storage products comprising storage controllers for hard disk drives (HDD) and solid-state drives that support various host system interfaces consisting of serial attached SCSI (SAS), serial advanced technology attachment (SATA), peripheral component interconnect express, non-volatile memory express (NVMe), and NVMe over fabrics; and fiber channel products, including host bus adapters, and controllers for server and storage system connectivity. It has operations in the United States, China, Malaysia, the Philippines, Thailand, Singapore, India, Israel, Japan, South Korea, Taiwan, and Vietnam. Marvell Technology, Inc. was incorporated in 1995 and is headquartered in Wilmington, Delaware.