As of Friday close, Marvell Technology Inc.’s (NASDAQ:MRVL) stock was up $0.34, moving up 0.55 percent to $62.69. The average number of shares traded per day over the past five days has been 8,958,359 shares. 2 times new highs have been achieved over the past 5 days, with a -$2.22 fall in that time frame. In the last twenty days, the average volume was 10,154,770, while in the previous 50 days, it was 15,581,392.
Since last month, MRVL stock rose 6.58%. Shares of the company fell to $57.43 on 07/06/23, the lowest level in the past month. A 52-week high of $67.99 was reached on 05/30/23 after having rallying from a 52-week low of $33.75. Since the beginning of this year, MRVL’s stock price has risen by 69.25% or $25.65, and marked a new high 15 times. However, the stock has declined by -7.80% since its 52-week high.
Top 5 AI Stocks to Buy for 2023
The artificial intelligence (AI) revolution is already here. And it's about to change everything we know about everything.
According to Grand View Research, the global AI boom could grow from about $137 billion in 2022 to more than $1.81 trillion by 2030. And investors like you always want to get in on the hottest stocks of tomorrow. Here are five of the best ways to profit from the AI boom.
Click Here to Download the FREE Report.
Sponsored
MRVL stock investors should be aware that Marvell Technology Inc. (MRVL) stock had its last reported insider trading activity 19 days ago on Jul 17. Koopmans Chris, the EVP, Chief Operations Officer of the company, disposed of 2,000 shares for $63.56 on Jul 17. It resulted in a $127,120 divestment by the insider. Koopmans Chris sold 2,000 shares at an average price of $63.56 on Jul 17. The insider now owns 138,737 shares following the transaction. On Jul 15, Chair of Board, President, CEO MURPHY MATTHEW J sold 30,000 shares at $64.13 apiece. The transaction was valued at $1,923,900.
Valuation Metrics
The stock’s beta is 1.42. Besides these, the trailing price-to-sales (P/S) ratio of 9.16, the price-to-book (PB) ratio of 3.47, and the price-to-cash flow ratio of 65.02 may also be considered.
The latest dividend of $0.06 per share was paid out, remained unchanged from last year’s $0.06.
Financial Health
In the three months ended April 29, Marvell Technology Inc.’s quick ratio stood at 0.70, while its current ratio was 1.00, showing that the company is not able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending April 29 was 0.20, and the total debt-to-equity ratio was 0.30. On the profitability front, the trailing twelve-month gross margin is 48.20% percent. In the year ended April 29, EBITDA margin amounted to 29.59%, whereas operating margins totaled -0.20%. Based on annual data, MRVL earned $2.99 billion in gross profit and brought in $5.92 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -0.10%. Return on equity (ROE) for the past 12 months was -1.10%.
According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. MRVL’s revenue fell -9.47% to $1.42 billion during the quarter, while net income inched up to $1.32 billion. While analysts expected Marvell Technology Inc. to report $0.29 quarterly earnings, the actual figure was $0.31 per share, beating the consensus estimate by 6.90%. During the quarter, the company generated $166.0 million in EBITDA. The liabilities of Marvell Technology Inc. were 6.78 billion at the end of its most recent quarter ended April 29, and its total debt was $4.91 billion. The value of shareholders’ equity is $860.0 million.
Technical Picture
This quick technical analysis looks at Marvell Technology Inc.’s (MRVL) price momentum. With a historical volatility rate of 34.23%, the RSI 9-day stood at 46.25% on 04 August.
With respect to its five-day moving average, the current Marvell Technology Inc. price is down by -3.42% percent or -$2.22. At present, MRVL shares trade +5.98% above its 20-day simple moving average and +65.02% percent above its 100-day simple moving average. However, the stock is currently trading approximately +34.56% above its SMA50 and +65.54% above its SMA200.
Stochastic coefficient K was 24.07% and Stochastic coefficient D was 40.12%, while ATR was 2.22. Given the Stochastic reading of 29.33% for the 14-day period, the RSI (14) reading has been calculated as 51.11%. As of today, the MACD Oscillator reading stands at -1.46, while the 14-day reading stands at -1.60.
Analyst Ratings
Wolfe Research launched its rating on Marvell Technology Inc. (NASDAQ: MRVL) to an Outperform in a note to investors on July 20, 2023. Marvell Technology Inc. (MRVL) has been rated Buy by analysts. According to 0 brokerage firms, MRVL is a sell, and 3 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 3 analysts rate Marvell Technology Inc. stock as buy, with 24 recommending it as overweight.
With a median target price of $68.50, the current consensus forecast for the stock is $60.00 – $100.00. Based on these forecasts, analysts predict Marvell Technology Inc. (MRVL) will achieve an average price target of $70.24.
