Marvell Technology Inc’s filing revealed that its Chief Financial Officer Meintjes Willem A unloaded Company’s shares for reported $64490.0 on May 01 ’24. In the deal valued at $64.49 per share,1,000 shares were sold. As a result of this transaction, Meintjes Willem A now holds 110,218 shares worth roughly $7.7 million.
Then, Casper Mark sold 2,500 shares, generating $161,875 in total proceeds. Upon selling the shares at $64.75, the EVP & Chief Legal Officer now owns 21,266 shares.
Before that, MURPHY MATTHEW J sold 30,000 shares. Marvell Technology Inc shares valued at $2,064,600 were divested by the Chair of Board, President, CEO at a price of $68.82 per share. As a result of the transaction, MURPHY MATTHEW J now holds 716,545 shares, worth roughly $50.03 million.
Evercore ISI initiated its Marvell Technology Inc [MRVL] rating to an Outperform in a research note published on April 16, 2024; the price target was $88. A number of analysts have revised their coverage, including Summit Insights’s analysts, who increased its forecast for the stock in early March from “a Hold” to “a Buy”. TD Cowen also remained covering MRVL and reiterated its “an Outperform” recommendation on March 08, 2024. Cantor Fitzgerald started covering the stock on January 23, 2024. It rated MRVL as “an Overweight”.
Price Performance Review of MRVL
On Monday, Marvell Technology Inc [NASDAQ:MRVL] saw its stock jump 1.91% to $69.82. Over the last five days, the stock has gained 1.56%. Marvell Technology Inc shares have risen nearly 15.77% since the year began. Nevertheless, the stocks have risen 77.48% over the past one year. While a 52-week high of $85.76 was reached on 03/07/24, a 52-week low of $38.63 was recorded on 01/04/24. SMA at 50 days reached $69.83, while 200 days put it at $61.35. A total of 5.94 million shares were traded, compared to the trading of 12.96 million shares in the previous session.
Levels Of Support And Resistance For MRVL Stock
The 24-hour chart illustrates a support level at 68.88, which if violated will result in even more drops to 67.95. On the upside, there is a resistance level at 70.36. A further resistance level may holdings at 70.91. The Relative Strength Index (RSI) on the 14-day chart is 54.18, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.19, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 3.23%. Stochastics %K at 75.69% indicates the stock is a holding.
The most recent change occurred on November 14, 2023 when ROTH MKM began covering the stock and recommended ‘”a Buy”‘ rating along with a $60 price target.
