In yesterday’s Wall Street session, Marvell Technology Inc (NASDAQ:MRVL) shares traded at $73.11, down -0.83% from the previous session.
MRVL stock price is now 5.91% away from the 50-day moving average and 5.86% away from the 200-day moving average. The market capitalization of the company currently stands at $63.33B.
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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 Oct 01 ’24. The stock was sold for $177,075 at an average price of $70.83. Upon completion of the transaction, the EVP & Chief Legal Officer now directly owns 22,494 shares in the company, valued at $1.64 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 01 ’24, Officer MARK CASPER bought 2,500 shares of the business’s stock. A total of $180,300 was incurred on buying the stock at an average price of $72.12. A total of 1.30% 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 $69.0284 and a two-hundred day moving average price translates $69.06445 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.
