The price of Marvell Technology Inc (NASDAQ:MRVL) shares last traded on Wall Street rose 0.24% to $74.48.
MRVL stock price is now 9.33% away from the 50-day moving average and 10.32% away from the 200-day moving average. The market capitalization of the company currently stands at $64.51B.
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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, Tamer Ford, Director bought 92,000 shares of the company’s stock on Sep 12 ’24. The stock was bought for $6,822,720 at an average price of $74.16. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 15 ’24, Chief Financial Officer Meintjes Willem A sold 1,500 shares of the business’s stock. A total of $100,125 was realized by selling the stock at an average price of $66.75. This leaves the insider owning 113,253 shares of the company worth $8.44 million. 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 $68.1728 and a two-hundred day moving average price translates $67.60505 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.
