In yesterday’s Wall Street session, Marvell Technology Inc (NASDAQ:MRVL) shares traded at $72.08, down -0.17% from the previous session.
MRVL stock price is now 2.53% away from the 50-day moving average and 13.15% away from the 200-day moving average. The market capitalization of the company currently stands at $62.39B.
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With the price target of $85, Jefferies recently initiated with Buy rating for Marvell Technology Inc (NASDAQ: MRVL). On April 16, 2024, Evercore ISI recently initiated its ‘Outperform’ rating on the stock quoting a target price of $88, while ‘Summit Insights’ rates the stock as ‘Buy’
In other news, Casper Mark, EVP & Chief Legal Officer sold 2,500 shares of the company’s stock on Jul 01 ’24. The stock was sold for $175,175 at an average price of $70.07. Upon completion of the transaction, the EVP & Chief Legal Officer now directly owns 20,450 shares in the company, valued at $1.47 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 24 ’24, Director Durn Daniel bought 1,425 shares of the business’s stock. A total of $100,049 was incurred on buying the stock at an average price of $70.21. This leaves the insider owning 1,923 shares of the company worth $0.14 million. A total of 1.10% of the company’s stock is owned by insiders.
During the past 12 months, Marvell Technology Inc has had a low of $46.07 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 1.80, and a quick ratio of 1.24. The fifty day moving average price for MRVL is $70.4646 and a two-hundred day moving average price translates $63.7917 for the stock.
The latest earnings results from Marvell Technology Inc (NASDAQ: MRVL) was released for 2024-05-04. The net profit margin was -18.33% and return on equity was -6.54% for MRVL. The company reported revenue of $1.16 billion for the quarter, compared to $1.32 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -12.17 percent.
