EVP, CALO GAYNOR MITCHELL sale 5,000 shares of Marvell Technology Inc. [MRVL]

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Marvell Technology Inc. shares valued at $238,750 were sold by GAYNOR MITCHELL on Sep 15. At $47.75 per share, GAYNOR MITCHELL sold 5,000 shares. The insider’s holdings dropped to 108,429 shares worth approximately $4.72 million following the completion of this transaction.


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Also, STRACHAN MICHAEL G purchased 6,781 shares, netting a total of over 314,096 in proceeds. Following the buying of shares at $46.32 each, the insider now holds 36,389 shares.

Before that, GAYNOR MITCHELL had sold 5,000 shares from its account. In a trade valued at $276,500, the EVP, CALO traded Marvell Technology Inc. shares for $55.30 each. Upon closing the transaction, the insider’s holdings decreased to 5,000 shares, worth approximately $4.94 million.

As published in their initiating research note from Exane BNP Paribas on September 13, 2022, Marvell Technology Inc. [MRVL] has been an Outperform and the price target has been revised to $62. This represents a 29.81% premium over Thursday’s closing price. As of June 15, 2022, B. Riley Securities has decreased its “Buy” rating to a “Neutral” for MRVL. Earlier on April 25, 2022, Raymond James upgraded its rating. Their new recommendation was “an Outperform” for MRVL stock which previously was a “a Mkt perform”.

Analyzing MRVL’s Price Performance

On Thursday, Marvell Technology Inc. [NASDAQ: MRVL] plunged -4.27% to $43.52. The stock’s lowest price that day was $43.37, but it reached a high of $45.515 in the same session. During the last five days, there has been a drop of approximately -6.75%. Over the course of the year, Marvell Technology Inc. shares have dropped approximately -50.26%. Shares of the company reached a 52-week high of $91.78 on 01/04/22 and a 52-week low of $41.07 on 07/05/22. A 50-day SMA is recorded $50.98, while a 200-day SMA reached $62.34. Nevertheless, trading volume fell to 12.05 million shares from 5.56 million shares the previous day.

Support And Resistance Levels for Marvell Technology Inc. (MRVL)

According to the 24-hour chart, there is a support level at 42.76, which, if violated, would cause prices to drop to 41.99. In the upper region, resistance lies at 44.90. The next price resistance is at 46.28. RSI (Relative Strength Index) is 34.75 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.07, which suggests the price will decrease in the coming days. Percent R is at 97.92%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Marvell Technology Inc. subject to short interest?

Stocks of Marvell Technology Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.65 million shares to 16.61 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 15.96 million shares. A jump of 3.91% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.71 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.71.

Which companies own the most shares of Marvell Technology Inc. (MRVL)?

According to Fidelity Management & Research Co filings, the company currently owns 115,282,861 shares, which is about 13.52% of the total MRVL shares outstanding. The investor’s shares have appreciated by 2,695,344 from its previous 13-F filing of 112587517.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $3,013,604,836. T. Rowe Price Associates, Inc. acquire a 16.14% interest valued at $1.71 billion while BlackRock Fund Advisors sold a -4,893,196 stake. A total of -3,563,101 shares of Marvell Technology Inc. were sold by Wellington Management Co. LLP during the quarter, and -90,334 were sold by SSgA Funds Management, Inc.. In its current portfolio, Managed Account Advisors LLC holds 15,456,698 shares valued at $723.68 million.

In terms of Marvell Technology Inc. share price expectations, FactSet research, analysts set an average price target of $74.00 in the next 12 months, up nearly 53.98% from the previous closing price of $45.46. Analysts anticipate Marvell Technology Inc. stock to reach $125.00 by 2022, with the lowest price target being $58.00. In spite of this, 32 analysts ranked Marvell Technology Inc. stock as a Buy at the end of 2022. On March 04, 2022, Needham assigned a price target of “a Buy” to the stock and reiterated coverage with a $105.

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