In yesterday’s Wall Street session, Marvell Technology Inc (NASDAQ:MRVL) shares traded at $124.78, up 3.32% from the previous session.
MRVL stock price is now 37.61% away from the 50-day moving average and 66.26% away from the 200-day moving average. The market capitalization of the company currently stands at $119.63B.
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With the price target enhanced from $110 to $130, Wells Fargo maintained Overweight rating for Marvell Technology Inc (NASDAQ: MRVL). On December 04, 2024, UBS reiterated its ‘Buy’ rating on the stock by increasing its target price from $110 to quote $115, while ‘The Benchmark Company’ rates the stock as ‘Buy’
In other news, KOOPMANS FAMILY TRUST U/A DTD , Officer bought 6,000 shares of the company’s stock on Dec 16 ’24. The stock was bought for $735,000 at an average price of $122.50. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 16 ’24, Officer WILLEM MEINTJES bought 1,500 shares of the business’s stock. A total of $183,750 was incurred on buying the stock at an average price of $122.50. 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 $53.19 and a high of $121.86. As of last week, the company has a debt-to-equity ratio of 0.33, a current ratio of 1.60, and a quick ratio of 1.11. The fifty day moving average price for MRVL is $89.649 and a two-hundred day moving average price translates $74.81655 for the stock.
The latest earnings results from Marvell Technology Inc (NASDAQ: MRVL) was released for 2024-08-03. The net profit margin was -27.49% and return on equity was -10.33% 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.
