The price of Marvell Technology Inc (NASDAQ:MRVL) shares last traded on Wall Street rose 1.17% to $68.47.
MRVL stock price is now -1.93% away from the 50-day moving average and 11.47% away from the 200-day moving average. The market capitalization of the company currently stands at $59.30B.
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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, Meintjes Willem A, Chief Financial Officer sold 1,000 shares of the company’s stock on May 01 ’24. The stock was sold for $64,490 at an average price of $64.49. Upon completion of the transaction, the Chief Financial Officer now directly owns 110,218 shares in the company, valued at $7.55 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Apr 19 ’24, EVP & Chief Legal Officer Casper Mark sold 2,500 shares of the business’s stock. A total of $161,875 was realized by selling the stock at an average price of $64.75. This leaves the insider owning 21,266 shares of the company worth $1.46 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 $39.23 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.
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