In yesterday’s Wall Street session, Marvell Technology Inc (NASDAQ:MRVL) shares traded at $109.69, down -3.41% from the previous session.
MRVL stock price is now -0.74% away from the 50-day moving average and 33.79% away from the 200-day moving average. The market capitalization of the company currently stands at $94.91B.
With the price target of $188, Melius recently initiated with Buy rating for Marvell Technology Inc (NASDAQ: MRVL). On December 04, 2024, Wells Fargo reiterated its ‘Overweight’ rating on the stock by increasing its target price from $110 to quote $130, while ‘UBS’ rates the stock as ‘Buy’
In other news, Koopmans Chris, EVP, Chief Operations Officer sold 6,000 shares of the company’s stock on Jan 22 ’25. The stock was sold for $746,400 at an average price of $124.40. Upon completion of the transaction, the EVP, Chief Operations Officer now directly owns 93,931 shares in the company, valued at $10.3 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jan 22 ’25, Officer KOOPMANS FAMILY TRUST U/A DTD bought 6,000 shares of the business’s stock. A total of $746,400 was incurred on buying the stock at an average price of $124.40. A total of 0.86% 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 $127.48. 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 $110.0996 and a two-hundred day moving average price translates $81.77075 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. For the current quarter, analysts expect MRVL to generate $1.8B in revenue.
