Marvell Technology Inc [MRVL] stock prices are down -1.98% to $70.88 at the moment. An important factor to consider is whether the stock is rising or falling in short-term value. The MRVL shares have gain 6.44% over the last week, with a monthly amount glided 4.95%, and seem to be holding up well over a long-time horizon.
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On 26, March 2024, Marvell Launches Products, Technology and Partnerships at OFC 2024 to Scale Optical Technology for Accelerated Infrastructure. In a post published today on Yahoo Finance, Marvell to showcase connectivity optimized for diverse architectures and use cases to meet exploding demand for bandwidth.
From an analyst’s perspective:
Marvell Technology Inc [NASDAQ: MRVL] stock has seen the most recent analyst activity on March 08, 2024, when Summit Insights upgraded its rating to a Buy. Previously, TD Cowen reaffirmed its Outperform rating on March 08, 2024, and elevated its price target to $90. On January 23, 2024, Cantor Fitzgerald initiated with a Overweight rating and assigned a price target of $80 on the stock. ROTH MKM started tracking the stock assigning a Buy rating and suggested a price target of $60 on November 14, 2023. Susquehanna reiterated its recommendation of a Positive and raised its price target to $70 on August 23, 2023. B. Riley Securities upgraded its rating to Buy for this stock on August 18, 2023, and upped its price target to $75. In a note dated July 20, 2023, Wolfe Research initiated an Outperform rating and provided a target price of $80 on this stock.
The stock price of Marvell Technology Inc [MRVL] has been fluctuating between $36.90 and $85.76 over the past year. Currently, Wall Street analysts expect the stock to reach $77.19 within the next 12 months. Marvell Technology Inc [NASDAQ: MRVL] shares were valued at $70.88 at the most recent close of the market. An investor can expect a potential return of 8.9% based on the average MRVL price forecast.
Analyzing the MRVL fundamentals
The Marvell Technology Inc [NASDAQ:MRVL] reported sales of 5.51B for trailing twelve months, representing a surge of 0.56%. Gross Profit Margin for this corporation currently stands at 0.42% with Operating Profit Margin at -0.09%, Pretax Profit Margin comes in at -0.14%, and Net Profit Margin reading is -0.17%. To continue investigating profitability, this company’s Return on Assets is posted at -0.04, Equity is -0.06 and Total Capital is -0.02. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.29.
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 70.08 points at the first support level, and at 69.28 for the second support level. However, for the 1st resistance point, the stock is sitting at 72.13, and for the 2nd resistance point, it is at 73.38.
Ratios To Look Out For
It’s worth pointing out that Marvell Technology Inc [NASDAQ:MRVL]’s Current Ratio is 1.69. On the other hand, the Quick Ratio is 1.21, and the Cash Ratio is 0.52. Considering the valuation of this stock, the price to sales ratio is 11.14, the price to book ratio is 4.14.
Transactions by insiders
Recent insider trading involved Meintjes Willem A, Chief Financial Officer, that happened on Mar 18 ’24 when 1000.0 shares were sold. EVP, Chief Operations Officer, Koopmans Chris completed a deal on Mar 15 ’24 to sell 5000.0 shares. Meanwhile, Chair of Board, President, CEO MURPHY MATTHEW J sold 30000.0 shares on Mar 14 ’24.
