In yesterday’s Wall Street session, Marvell Technology Inc (NASDAQ:MRVL) shares traded at $114.32, down -3.31% from the previous session.
MRVL stock price is now 12.20% away from the 50-day moving average and 45.74% away from the 200-day moving average. The market capitalization of the company currently stands at $98.92B.
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, STRACHAN MICHAEL G, Director sold 5,000 shares of the company’s stock on Jan 06 ’25. The stock was sold for $613,250 at an average price of $122.65. Upon completion of the transaction, the Director now directly owns 30,959 shares in the company, valued at $3.54 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jan 02 ’25, EVP, Chief Legal Officer Casper Mark sold 2,500 shares of the business’s stock. A total of $282,500 was realized by selling the stock at an average price of $113.00. This leaves the insider owning 24,706 shares of the company worth $2.82 million. 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 $101.886 and a two-hundred day moving average price translates $78.4399 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.
