A share price of Marvell Technology Inc [MRVL] is currently trading at $71.53, up 0.14%. In order to assess the stock’s recent performance, you can check whether its short-term value is rising or falling. The MRVL shares have gain 0.92% over the last week, with a monthly amount drifted -0.33%, and not 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.
Marvell Technology Inc experienced fluctuations in its stock price throughout the past year between $36.90 and $85.76. Currently, Wall Street analysts expect the stock to reach $77.77 within the next 12 months. Marvell Technology Inc [NASDAQ: MRVL] shares were valued at $71.53 at the most recent close of the market. An investor can expect a potential return of 8.72% based on the average MRVL price forecast.
Analyzing the MRVL fundamentals
Trailing Twelve Months sales for Marvell Technology Inc [NASDAQ:MRVL] were 5.51B which represents 0.56% growth. 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. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.29.
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 68.71 points at the first support level, and at 65.90 for the second support level. However, for the 1st resistance point, the stock is sitting at 74.19, and for the 2nd resistance point, it is at 76.86.
Marvell Technology Inc [MRVL] reported earnings per share of $0.46 for its fiscal quarter that ended on 1/30/2024. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.46/share, meaning a difference of $0 and a surprise factor of 0.00%. By comparison, the stated earnings for the previous quarter ended on 10/30/2023 were $0.41 per share as compared to estimates of $0.4 per share, a difference of $0.01 representing a surprise of 2.50%.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Marvell Technology Inc [NASDAQ:MRVL] is 1.69. In addition, the Quick Ratio stands at 1.21 and the Cash Ratio stands at 0.52. Considering the valuation of this stock, the price to sales ratio is 11.25, the price to book ratio is 4.17.
Transactions by insiders
Recent insider trading involved Meintjes Willem A, Chief Financial Officer, that happened on Apr 01 ’24 when 1000.0 shares were sold. Chief Financial Officer, Meintjes Willem A completed a deal on Mar 18 ’24 to sell 1000.0 shares. Meanwhile, EVP, Chief Operations Officer Koopmans Chris sold 5000.0 shares on Mar 15 ’24.
