In yesterday’s Wall Street session, Marvell Technology Inc (NASDAQ:MRVL) shares traded at $52.01, down -1.50% from the previous session.
31 analysts cover Marvell Technology Inc (NASDAQ:MRVL), according to research data. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $100.00 and a low of $56.00, we find $66.00. Given the previous closing price of $52.80, this indicates a potential upside of 25.0 percent. MRVL stock price is now -1.32% away from the 50-day moving average and 0.45% away from the 200-day moving average. The market capitalization of the company currently stands at $44.87B.
The stock has received a hold rating from 3 analysts and a buy rating from 25. Brokers who have rated the stock have averaged $67.51 as their price target over the next twelve months.
With the price target of $60, ROTH MKM recently initiated with Buy rating for Marvell Technology Inc (NASDAQ: MRVL).
In other news, MURPHY MATTHEW J, Chair of Board, President, CEO sold 30,000 shares of the company’s stock on Nov 16. The stock was sold for $1,633,500 at an average price of $54.45. Upon completion of the transaction, the Chair of Board, President, CEO now directly owns 839,287 shares in the company, valued at $43.65 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 15, EVP, Chief Admin Officer GAYNOR MITCHELL sold 8,000 shares of the business’s stock. A total of $458,640 was realized by selling the stock at an average price of $57.33. This leaves the insider owning 135,311 shares of the company worth $7.04 million. Insiders disposed of 1,171,960 shares of company stock worth roughly $60.95 million over the past 1 year. A total of 0.94% of the company’s stock is owned by insiders.
On Monday morning Marvell Technology Inc (NASDAQ: MRVL) stock kicked off with the opening price of $52.02. During the past 12 months, Marvell Technology Inc has had a low of $33.75 and a high of $67.99. As of last week, the company has a debt-to-equity ratio of 0.31, a current ratio of 1.58, and a quick ratio of 1.08. The fifty day moving average price for MRVL is $52.70 and a two-hundred day moving average price translates $51.78 for the stock.
The latest earnings results from Marvell Technology Inc (NASDAQ: MRVL) was released for Oct, 2023. According to the Semiconductors Company, earnings per share came in at $0.41, beating analysts’ expectations of $0.4 by 0.01. This compares to $0.02 EPS in the same period last year. The net profit margin was -10.11% and return on equity was -3.61% for MRVL. The company reported revenue of $1.42 billion for the quarter, compared to $1.54 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -7.72 percent. For the current quarter, analysts expect MRVL to generate $1.43B in revenue.
Marvell Technology Inc(MRVL) Company Profile
Marvell Technology, Inc., together with its subsidiaries, provides data infrastructure semiconductor solutions, spanning the data center core to network edge. The company develops, scales complex System-on-a-Chip architectures, integrating analog, mixed-signal, and digital signal processing functionality. It offers a portfolio of Ethernet solutions, including controllers, network adapters, physical transceivers, and switches; single or multiple core processors; custom application specific integrated circuits; and System-on-a-Chip solutions. The company also provides electro-optical products, including pulse amplitude modulations, coherent digital signal processors, laser drivers, trans-impedance amplifiers, silicon photonics, and data center interconnect solutions; fibre channel products comprising host bus adapters and controllers; single or multiple core processors; storage controllers for hard disk drives and solid-state-drives; and host system interfaces, including serial attached SCSI, serial advanced technology attachment, peripheral component interconnect express, non-volatile memory express (NVMe), and NVMe over fabrics. It has operations in the United States, Argentina, China, India, Israel, Japan, Singapore, South Korea, Taiwan, and Vietnam. Marvell Technology, Inc. was incorporated in 1995 and is headquartered in Wilmington, Delaware.
