A Technical View of the Marvell Technology Inc. (MRVL)

Marvell Technology Inc. (NASDAQ:MRVL) saw a downside of -2.50% to close Tuesday at $61.96 after subtracting -$1.59 on the day. The 5-day average trading volume is 8,876,380 shares of the company’s common stock. It has gained $65.00 in the past week and touched a new high 1 time within the past 5 days. An average of 9,745,875 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 14,826,370.

MRVL’s 1-month performance is 2.77% or $2.81 on its low of $58.83 reached on 07/10/23. The company’s shares have touched a 52-week low of $33.75 and high of $67.99, with the stock’s rally to the 52-week high happening on 05/30/23. YTD, MRVL has achieved 67.28% or $24.92 and has reached a new high 15 times. However, the current price is down -8.87% from the 52-week high price.

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.

Insider Transactions

MRVL stock investors last saw insider trading activity on Jul 17.Koopmans Chris (EVP, Chief Operations Officer) most recently sold 2,000 shares at $63.56 per share on Jul 17. This transaction cost the insider $127,120. EVP, Chief Operations Officer, Koopmans Chris, sold 2,000 shares at a price of $63.56 on Jul 17. Then, on Jul 15, Chair of Board, President, CEO MURPHY MATTHEW J sold 30,000 shares at a price of $64.13 per share. This transaction amounted to $1,923,900.

Valuation Metrics

MRVL stock has a beta of 1.41. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 9.15 while the price-to-book (PB) in the most recent quarter is 3.43, with the price to cash flow ratio at 64.94.

Marvell Technology Inc.’s quick ratio for the period ended April 29 was 0.70, with the current ratio over the same period at 1.00. As well, the company’s long term debt to equity for the quarter ending April 29 was 0.20, while the total debt to equity was 0.30.. In terms of profitability, the gross margin trailing 12 months is 48.20%. The firm’s gross profit as reported stood at $2.99 billion against revenue of $5.92 billion.

Earnings Surprise

For the quarterly period ending April 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income grew 1.89% to -$168.9 million, while revenue of -$15.4 million was 90.88% off the previous quarter. Analysts expected MRVL to announce $0.29 per share in earnings in its latest quarter, but it posted $0.31, representing a 6.90% surprise. EBITDA for the quarter stood at more than $166.0 million. MRVL stock balance sheet for the quarter ending April 29 shows that total liabilities totaled 6.78 billion, with total debt at $4.91 billion. Shareholders hold equity totaling $860.0 million.

Let’s look briefly at Marvell Technology Inc. (MRVL) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 08 August was 42.77% to suggest the stock is trending Neutral, with historical volatility in this time period at 36.45%.

The stock’s 5-day moving average is $62.53, reflecting a -6.02% or -$3.97 change from its current price. MRVL is currently trading -0.31% above its 20-day SMA, +64.70% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +25.25% and SMA200 by+62.62%.

Stochastic %K and %D was 31.59% and 29.32% and the average true range (ATR) pointed at 2.18. The RSI (14) points at 48.30%, while the 14-day stochastic is at 21.34% with the period’s ATR at 2.17. The stock’s 9-day MACD Oscillator is pointing at -0.88 and -0.83 on the 14-day charts.