The stock of Marvell Technology Inc (NASDAQ:MRVL) last traded at $92.51, down -0.46% from the previous session.
MRVL stock price is now 14.68% away from the 50-day moving average and 27.97% away from the 200-day moving average. The market capitalization of the company currently stands at $79.76B.
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With the price target of $95, Loop Capital recently initiated with Hold rating for Marvell Technology Inc (NASDAQ: MRVL). On May 13, 2024, Jefferies recently initiated its ‘Buy’ rating on the stock quoting a target price of $85, while ‘Evercore ISI’ rates the stock as ‘Outperform’
In other news, Meintjes Willem A, Chief Financial Officer sold 1,500 shares of the company’s stock on Nov 15 ’24. The stock was sold for $133,710 at an average price of $89.14. Upon completion of the transaction, the Chief Financial Officer now directly owns 114,211 shares in the company, valued at $10.57 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 15 ’24, EVP, Chief Operations Officer Koopmans Chris sold 6,000 shares of the business’s stock. A total of $534,840 was realized by selling the stock at an average price of $89.14. This leaves the insider owning 103,244 shares of the company worth $9.55 million. A total of 0.86% 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 $95.09. 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 $80.6688 and a two-hundred day moving average price translates $72.2876 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.
