The price of Marvell Technology Inc (NASDAQ:MRVL) shares last traded on Wall Street rose 1.97% to $73.34.
MRVL stock price is now 4.63% away from the 50-day moving average and 20.74% away from the 200-day moving average. The market capitalization of the company currently stands at $63.51B.
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 Apr 01 ’24. The stock was sold for $71,500 at an average price of $71.50. Upon completion of the transaction, the Chief Financial Officer now directly owns 101,986 shares in the company, valued at $7.48 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 18 ’24, Chief Financial Officer Meintjes Willem A sold 1,000 shares of the business’s stock. A total of $67,790 was realized by selling the stock at an average price of $67.79. This leaves the insider owning 102,986 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 $70.09 and a two-hundred day moving average price translates $60.74 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.
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 and 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; and custom application specific integrated circuits. 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; 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.
