The price of Marvell Technology Inc (NASDAQ:MRVL) shares last traded on Wall Street rose 3.33% to $87.19.
MRVL stock price is now 15.53% away from the 50-day moving average and 23.07% away from the 200-day moving average. The market capitalization of the company currently stands at $75.52B.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
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, Koopmans Chris, EVP, Chief Operations Officer sold 6,000 shares of the company’s stock on Oct 21 ’24. The stock was sold for $484,620 at an average price of $80.77. Upon completion of the transaction, the EVP, Chief Operations Officer now directly owns 109,244 shares in the company, valued at $9.52 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 21 ’24, Officer KOOPMANS FAMILY TRUST U/A DTD bought 6,000 shares of the business’s stock. A total of $484,620 was incurred on buying the stock at an average price of $80.77. A total of 1.29% of the company’s stock is owned by insiders.
During the past 12 months, Marvell Technology Inc has had a low of $50.35 and a high of $87.28. 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 $75.1024 and a two-hundred day moving average price translates $70.7578 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.
