Marvell Technology Inc (NASDAQ: MRVL) has experienced a rise in its stock price by 3.17 compared to its previous closing price of 67.48. However, the company has seen a gain of 12.06% in its stock price over the last five trading days. Zacks Investment Research reported 2024-04-24 that Marvell Technology (MRVL) reachead $64.85 at the closing of the latest trading day, reflecting a +1.55% change compared to its last close.
Is It Worth Investing in Marvell Technology Inc (NASDAQ: MRVL) Right Now?
The 36-month beta value for MRVL is at 1.46. Analysts have varying views on the stock, with 10 analysts rating it as a “buy,” 1 rating it as “overweight,” 12 as “hold,” and 1 as “sell.”
The public float for MRVL is 855.96M, and currently, shorts hold a 2.82% of that float. The average trading volume for MRVL on April 29, 2024 was 14.05M shares.
MRVL’s Market Performance
MRVL stock saw a decrease of 12.06% in the past week, with a monthly decline of -3.72% and a quarterly a decrease of 2.32%. The volatility ratio for the week is 3.08%, and the volatility levels for the last 30 days are 4.07% for Marvell Technology Inc (MRVL).. The simple moving average for the past 20 days is 0.78% for MRVL’s stock, with a 13.68% simple moving average for the past 200 days.
Analysts’ Opinion of MRVL
Many brokerage firms have already submitted their reports for MRVL stocks, with Evercore ISI repeating the rating for MRVL by listing it as a “Outperform.” The predicted price for MRVL in the upcoming period, according to Evercore ISI is $88 based on the research report published on April 16, 2024 of the current year 2024.
TD Cowen gave a rating of “Outperform” to MRVL, setting the target price at $90 in the report published on March 08th of the current year.
MRVL Trading at -0.24% from the 50-Day Moving Average
After a stumble in the market that brought MRVL to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -18.82% of loss for the given period.
Volatility was left at 4.07%, however, over the last 30 days, the volatility rate increased by 3.08%, as shares sank -1.78% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +0.96% upper at present.
During the last 5 trading sessions, MRVL rose by +12.06%, which changed the moving average for the period of 200-days by +10.72% in comparison to the 20-day moving average, which settled at $69.02. In addition, Marvell Technology Inc saw 15.44% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at MRVL starting from Casper Mark, who sale 2,500 shares at the price of $64.75 back on Apr 19 ’24. After this action, Casper Mark now owns 21,266 shares of Marvell Technology Inc, valued at $161,875 using the latest closing price.
MURPHY MATTHEW J, the Chair of Board, President, CEO of Marvell Technology Inc, sale 30,000 shares at $68.82 during a trade that took place back on Apr 15 ’24, which means that MURPHY MATTHEW J is holding 716,545 shares at $2,064,600 based on the most recent closing price.
Stock Fundamentals for MRVL
Current profitability levels for the company are sitting at:
- -0.09 for the present operating margin
- 0.42 for the gross margin
The net margin for Marvell Technology Inc stands at -0.17. The total capital return value is set at -0.02. Equity return is now at value -6.13, with -4.27 for asset returns.
Based on Marvell Technology Inc (MRVL), the company’s capital structure generated 0.23 points at debt to capital in total, while cash flow to debt ratio is standing at 0.32. The debt to equity ratio resting at 0.29. The interest coverage ratio of the stock is -2.26.
Currently, EBITDA for the company is 961.1 million with net debt to EBITDA at 3.82. When we switch over and look at the enterprise to sales, we see a ratio of 11.63. The receivables turnover for the company is 4.91for trailing twelve months and the total asset turnover is 0.26. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.69.
Conclusion
In conclusion, Marvell Technology Inc (MRVL) has had a better performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
