In yesterday’s Wall Street session, Marvell Technology Inc (NASDAQ:MRVL) shares traded at $65.91, down -4.13% from the previous session.
MRVL stock price is now -5.61% away from the 50-day moving average and 7.53% away from the 200-day moving average. The market capitalization of the company currently stands at $57.08B.
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With the price target of $88, Evercore ISI recently initiated with Outperform rating for Marvell Technology Inc (NASDAQ: MRVL). , while ‘TD Cowen’ rates the stock as ‘Outperform’
In other news, Casper Mark, EVP & Chief Legal Officer sold 2,500 shares of the company’s stock on Apr 19 ’24. The stock was sold for $161,875 at an average price of $64.75. Upon completion of the transaction, the EVP & Chief Legal Officer now directly owns 21,266 shares in the company, valued at $1.4 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Apr 15 ’24, Chair of Board, President, CEO MURPHY MATTHEW J sold 30,000 shares of the business’s stock. A total of $2,064,600 was realized by selling the stock at an average price of $68.82. This leaves the insider owning 716,545 shares of the company worth $47.23 million. A total of 1.16% of the company’s stock is owned by insiders.
During the past 12 months, Marvell Technology Inc has had a low of $38.63 and a high of $85.76. As of last week, the company has a debt-to-equity ratio of 0.32, a current ratio of 1.69, and a quick ratio of 1.21.
According to the Semiconductors Company, earnings per share came in at 0.31, beating analysts’ expectations of 0.29 by 0.02. This compares to -$0.02 EPS in the same period last year. The net profit margin was -16.95% and return on equity was -6.13% for MRVL. The company reported revenue of $1.43 billion for the quarter, compared to $1.42 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 0.56 percent. For the current quarter, analysts expect MRVL to generate $1.17B in revenue.
