In yesterday’s Wall Street session, Marvell Technology Inc (NASDAQ:MRVL) shares traded at $87.83, down -3.16% from the previous session.
MRVL stock price is now 11.34% away from the 50-day moving average and 22.44% away from the 200-day moving average. The market capitalization of the company currently stands at $73.67B.
With the price target of $95, Loop Capital recently initiated with Hold rating for Marvell Technology Inc (NASDAQ: MRVL). On May 13, 2024, Jefferies recently initiated its ‘Buy’ rating on the stock quoting a target price of $85, while ‘Evercore ISI’ rates the stock as ‘Outperform’
In other news, KOOPMANS FAMILY TRUST U/A DTD , Officer bought 6,000 shares of the company’s stock on Nov 15 ’24. The stock was bought for $534,840 at an average price of $89.14. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 15 ’24, Officer WILLEM MEINTJES bought 1,500 shares of the business’s stock. A total of $133,710 was incurred on buying the stock at an average price of $89.14. A total of 1.19% of the company’s stock is owned by insiders.
During the past 12 months, Marvell Technology Inc has had a low of $50.35 and a high of $95.09. As of last week, the company has a debt-to-equity ratio of 0.33, a current ratio of 1.79, and a quick ratio of 1.26. The fifty day moving average price for MRVL is $78.8856 and a two-hundred day moving average price translates $71.7309 for the stock.
The latest earnings results from Marvell Technology Inc (NASDAQ: MRVL) was released for 2024-08-03. The net profit margin was -18.30% and return on equity was -6.53% for MRVL. The company reported revenue of $1.27 billion for the quarter, compared to $1.34 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -5.07 percent.
