Marvell Technology Inc (NASDAQ:MRVL) shares traded -8.16% lower at $70.02 on Wall Street last session.
MRVL stock price is now 3.06% away from the 50-day moving average and 4.64% away from the 200-day moving average. The market capitalization of the company currently stands at $60.61B.
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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, Meintjes Willem A, Chief Financial Officer sold 1,500 shares of the company’s stock on Aug 15 ’24. The stock was sold for $100,125 at an average price of $66.75. Upon completion of the transaction, the Chief Financial Officer now directly owns 113,253 shares in the company, valued at $7.93 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 15 ’24, Officer WILLEM MEINTJES bought 1,500 shares of the business’s stock. A total of $100,125 was incurred on buying the stock at an average price of $66.75. A total of 1.31% 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 0.33, a current ratio of 1.79, and a quick ratio of 1.26. The fifty day moving average price for MRVL is $67.9042 and a two-hundred day moving average price translates $66.97875 for the stock.
The latest earnings results from Marvell Technology Inc (NASDAQ: MRVL) was released for 2024-08-03. The net profit margin was -18.30% and return on equity was -6.53% for MRVL. The company reported revenue of $1.27 billion for the quarter, compared to $1.34 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -5.07 percent.
