Marvell Technology Inc (NASDAQ:MRVL) shares, rose in value on Thursday, May 08, with the stock price up by 2.34% to the previous day’s close as strong demand from buyers drove the stock to $57.63.
Actively observing the price movement in the last trading, the stock closed the session at $56.31. Referring to stock’s 52-week performance, its high was $127.48, and the low was $47.08. On the whole, MRVL has fluctuated by 15.19% over the past month.
With the market capitalization of Marvell Technology Inc currently standing at about $49.78 billion, investors are eagerly awaiting this quarter’s results, scheduled for in June. The company’s Forward Dividend Ratio is 0.24, with its dividend yield at 0.42%.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that MRVL’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium-term indicators have put the stock in the category of 100% Sell while long-term indicators on average have been pointing out that it is a 50% Sell.
The stock’s technical analysis shows that the price of MRVL currently trading nearly 2.76% and -9.69% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 46.02, while the 7-day volatility ratio is showing 3.52% which for the 30-day chart, stands at 5.82%. Furthermore, Marvell Technology Inc (MRVL)’s beta value is 1.79, and its average true range (ATR) is 3.83.
A comparison of Marvell Technology Inc (MRVL) with its peers suggests the former has fared considerably weaker in the market. MRVL showed an intraday change of 2.34% in last session, and over the past year, it shrunk by -17.46%%.
Data on historical trading for Marvell Technology Inc (NASDAQ:MRVL) indicates that the trading volumes over the past 3 months, they’ve averaged 18.95 million. According to company’s latest data on outstanding shares, there are 866.00 million shares outstanding.
Nearly 0.52% of Marvell Technology Inc’s shares belong to company insiders and institutional investors own 85.83% of the company’s shares. The stock has fallen by -47.82% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the MRVL stock heading into the next quarter.
