Marvell Technology Inc. (MRVL): Find Out What Insiders Are Doing

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Marvell Technology Inc. (NASDAQ:MRVL) finished Thursday with an addition of $1.38 to close at $36.76, an upside of 3.90 percent. An average of 8,889,200 shares of common stock have been traded in the last five days. There was a fall of -$2.11 in the past week, and it reached a new high 3 times over the past 12 months. The last 20 days have seen an average of 11,431,530 shares traded, while the 50-day average volume stands at 11,622,282.

MRVL stock has decreased by -14.33% in the last month. The company shares reached their 1-month lowest point of $35.09 on 12/28/22. With the stock rallying to its 52-week high on 01/04/22, shares of the company touched a low of $35.09 and a high of $91.78 in 52 weeks. It has reached a new high 2 times so far this year and lost -57.98% or -$50.73 in price. In spite of this, the price is down -59.95% from the 52-week high.


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Insider Transactions

MRVL stock investors should be aware that Marvell Technology Inc. (MRVL) stock had its last reported insider trading activity 76 days ago on Oct 15. In this transaction, the insider spent $198,050. EVP, Automotive, Coherent DSP, YOUSEFI NARIMAN, disposed of 10,000 shares at a price of $45.00 on Oct 03. The insider now owns more than $450,000 worth of shares. Prior to that, EVP, CALO GAYNOR MITCHELL went on to Sale 5,000 shares at $47.75 each on Sep 15. An amount of $238,750 was transacted.

Valuation Metrics

Marvell Technology Inc. (MRVL) stock’s beta is 1.45. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 5.35, the price-to-book (PB) ratio at 2.01, and the price-to-cash flow ratio at 35.17.

Financial Health

The quick ratio of Marvell Technology Inc. for the three months ended July 30 was 0.90, and the current ratio was 1.30, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.25 and a total debt to equity ratio of 0.29 for the quarter ending July 30. Its gross profit as reported stood at $2.06 billion compared to revenue of $4.46 billion.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Marvell Technology Inc.’s return on assets was -0.60%.

Earnings Surprise

In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $13.3 million in the quarter, while revenues of $4.3 million were grew 570.15%. The analyst consensus anticipated Marvell Technology Inc.’s latest quarter earnings to come in at $0.56 per share, but it turned out to be $0.57, a 1.80% surprise. For the quarter, EBITDA amounted to $460.5 million. Shareholders own equity worth $853.2 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Marvell Technology Inc. (MRVL) price momentum. RSI 9-day as of the close on 29 December was 37.54%, suggesting the stock is Neutral, with historical volatility in this time frame at 40.80%.

As of today, MRVL’s price is $36.49 -5.43% or -$2.11 from its 5-day moving average. MRVL is currently trading -20.98% lower than its 20-day SMA and -33.87% lower than its 100-day SMA. However, the stock’s current price level is -2.60% below the SMA50 and -44.12% below the SMA200.

The stochastic %K and %D were 6.65% and 6.04%, respectively, and the average true range (ATR) was 1.82. With the 14-day stochastic at 15.32% and the average true range at 1.97, the RSI (14) stands at 39.63%. The stock has reached -1.33 on the 9-day MACD Oscillator while the 14-day reading was at -2.99.

Analyst Ratings

Needham reiterated its a Buy rating on Marvell Technology Inc. (NASDAQ: MRVL), but raised their price target to $64, indicating a potential price increase of 42.56% for the stock. The consensus rating for Marvell Technology Inc. (MRVL) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell MRVL, while 2 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 3 analysts, while 26 others rate it as a “buy”.

What is MRVL’s price target for the next 12 months?

Analysts predict a range of price targets between $41.00 and $125.00, with a median target of $57.50. Taking a look at these predictions, the average price target given by analysts for Marvell Technology Inc. (MRVL) stock is $61.50.

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