In yesterday’s Wall Street session, Marvell Technology Inc (NASDAQ:MRVL) shares traded at $66.12, down -0.63% from the previous session.
MRVL stock price is now -4.91% away from the 50-day moving average and 9.79% away from the 200-day moving average. The market capitalization of the company currently stands at $57.26B.
On March 08, 2024, TD Cowen reiterated its ‘Outperform’ rating on the stock by increasing its target price from $75 to quote $90, while ‘Cantor Fitzgerald’ rates the stock as ‘Overweight’
In other news, Meintjes Willem A, Chief Financial Officer sold 1,000 shares of the company’s stock on Mar 18 ’24. The stock was sold for $67,790 at an average price of $67.79. Upon completion of the transaction, the Chief Financial Officer now directly owns 102,986 shares in the company, valued at $6.81 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 15 ’24, EVP, Chief Operations Officer Koopmans Chris sold 5,000 shares of the business’s stock. A total of $332,200 was realized by selling the stock at an average price of $66.44. This leaves the insider owning 114,117 shares of the company worth $7.55 million. A total of 1.16% of the company’s stock is owned by insiders.
During the past 12 months, Marvell Technology Inc has had a low of $36.90 and a high of $85.76. As of last week, the company has a debt-to-equity ratio of 0.32, a current ratio of 1.69, and a quick ratio of 1.21. The fifty day moving average price for MRVL is $69.53 and a two-hundred day moving average price translates $60.23 for the stock.
The latest earnings results from Marvell Technology Inc (NASDAQ: MRVL) was released for Feb, 2024. According to the Semiconductors Company, earnings per share came in at $0.46, inline with analysts’ expectations of $0.46. This compares to -$0.02 EPS in the same period last year. The net profit margin was -16.95% and return on equity was -6.13% for MRVL. The company reported revenue of $1.43 billion for the quarter, compared to $1.42 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 0.56 percent. For the current quarter, analysts expect MRVL to generate $1.17B in revenue.
