Marvell Technology Inc [MRVL] stock is trading at $79.35, up 2.24%. An important factor to consider is whether the stock is rising or falling in short-term value. The MRVL shares have gain 15.64% over the last week, with a monthly amount glided 18.66%, and seem to be holding up well over a long-time horizon.
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On 26, February 2024, Marvell to Showcase Carrier Infrastructure at MWC 2024. In a post published today on Yahoo Finance, Industry-leading compute and connectivity products advancing 5G networks.
From an analyst’s perspective:
Marvell Technology Inc [NASDAQ: MRVL] stock has seen the most recent analyst activity on January 23, 2024, when Cantor Fitzgerald initiated its Overweight rating and assigned the stock a price target of $80. Previously, ROTH MKM started tracking the stock with Buy rating on November 14, 2023, and set its price target to $60. On August 23, 2023, Susquehanna reiterated its Positive rating and revised its price target to $70 on the stock. B. Riley Securities upgraded its rating to a Buy and increased its price target to $75 on August 18, 2023. Wolfe Research initiated its recommendation with a Outperform and recommended $80 as its price target on July 20, 2023. Morgan Stanley reiterated a Equal-Weight rating for this stock on June 16, 2023, and upped its price target to $68.
Marvell Technology Inc [MRVL] stock has fluctuated between $36.64 and $78.09 over the past year. Currently, Wall Street analysts expect the stock to reach $75.5 within the next 12 months. Marvell Technology Inc [NASDAQ: MRVL] shares were valued at $79.35 at the most recent close of the market. An investor can expect a potential drop of -4.85% based on the average MRVL price forecast.
Analyzing the MRVL fundamentals
Marvell Technology Inc [NASDAQ:MRVL] reported sales of 5.50B for the trailing twelve months, which represents a drop of -7.72%. Gross Profit Margin for this corporation currently stands at 0.42% with Operating Profit Margin at -0.08%, Pretax Profit Margin comes in at -0.13%, and Net Profit Margin reading is -0.1%. To continue investigating profitability, this company’s Return on Assets is posted at -0.03, Equity is -0.04 and Total Capital is -0.02. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.27.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 77.64 points at the first support level, and at 75.92 for the second support level. However, for the 1st resistance point, the stock is sitting at 80.58, and for the 2nd resistance point, it is at 81.80.
Marvell Technology Inc [MRVL] reported earnings per share of $0.41 for its fiscal quarter that ended on 10/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.4/share, meaning a difference of $0.01 and a surprise factor of 2.50%. By comparison, the stated earnings for the previous quarter ended on 7/30/2023 were $0.33 per share as compared to estimates of $0.32 per share, a difference of $0.01 representing a surprise of 3.10%.
Ratios To Look Out For
For context, Marvell Technology Inc’s Current Ratio is 1.58. On the other hand, the Quick Ratio is 1.08, and the Cash Ratio is 0.39. Considering the valuation of this stock, the price to sales ratio is 12.47, the price to book ratio is 4.50.
Transactions by insiders
Recent insider trading involved MURPHY MATTHEW J, Chair of Board, President, CEO, that happened on Feb 15 when 30000.0 shares were sold. EVP, Chief Operations Officer, Koopmans Chris completed a deal on Feb 15 to sell 5000.0 shares. Meanwhile, Chief Financial Officer Meintjes Willem A sold 1000.0 shares on Feb 01.
