Stocks of Marvell Technology Inc (NASDAQ:MRVL) traded higher last session on Wall Street, up 1.16% to $125.21.
MRVL stock price is now 17.30% away from the 50-day moving average and 56.28% away from the 200-day moving average. The market capitalization of the company currently stands at $108.34B.
With the price target enhanced from $110 to $130, Wells Fargo maintained Overweight rating for Marvell Technology Inc (NASDAQ: MRVL). On December 04, 2024, UBS reiterated its ‘Buy’ rating on the stock by increasing its target price from $110 to quote $115, while ‘The Benchmark Company’ rates the stock as ‘Buy’
In other news, KOOPMANS FAMILY TRUST U/A DTD , Officer bought 6,000 shares of the company’s stock on Jan 22 ’25. The stock was bought for $746,400 at an average price of $124.40. An SEC document containing details of the transaction can be found on the SEC’s website. On Jan 17 ’25, EVP & Chief Legal Officer Casper Mark sold 7,755 shares of the business’s stock. A total of $954,485 was realized by selling the stock at an average price of $123.08. A total of 0.85% of the company’s stock is owned by insiders.
During the past 12 months, Marvell Technology Inc has had a low of $53.19 and a high of $126.15. As of last week, the company has a debt-to-equity ratio of 0.33, a current ratio of 1.60, and a quick ratio of 1.11. The fifty day moving average price for MRVL is $106.7446 and a two-hundred day moving average price translates $80.11755 for the stock.
The latest earnings results from Marvell Technology Inc (NASDAQ: MRVL) was released for 2024-08-03. The net profit margin was -27.49% and return on equity was -10.33% 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.
