Marvell Technology Inc’s recent filing unveils that its Director Tamer Ford acquired Company’s shares for reported $6.82 million on Sep 12 ’24. In the deal valued at $74.16 per share,92,000 shares were bought.
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Then, Meintjes Willem A sold 1,500 shares, generating $100,125 in total proceeds. Upon selling the shares at $66.75, the Chief Financial Officer now owns 113,253 shares.
Before that, WILLEM MEINTJES bought 1,500 shares. Marvell Technology Inc shares valued at $100,125 were divested by the Officer at a price of $66.75 per share.
Jefferies initiated its Marvell Technology Inc [MRVL] rating to a Buy in a research note published on May 13, 2024; the price target was $85. A number of analysts have revised their coverage, including Evercore ISI’s analysts, who began to cover the stock in mid April with a ‘”an Outperform”‘ rating. Summit Insights also remained covering MRVL and has increased its forecast on March 08, 2024 with a “Buy” recommendation from previously “Hold” rating. TD Cowen maintained its rating on March 08, 2024. It rated MRVL as “an Outperform”.
Price Performance Review of MRVL
On Friday, Marvell Technology Inc [NASDAQ:MRVL] saw its stock jump 0.24% to $74.48. Over the last five days, the stock has gained 12.51%. Marvell Technology Inc shares have risen nearly 23.50% since the year began. Nevertheless, the stocks have risen 33.96% over the past one year. While a 52-week high of $85.76 was reached on 03/07/24, a 52-week low of $46.07 was recorded on 08/05/24. SMA at 50 days reached $68.17, while 200 days put it at $67.61.
Levels Of Support And Resistance For MRVL Stock
The 24-hour chart illustrates a support level at 73.20, which if violated will result in even more drops to 71.93. On the upside, there is a resistance level at 75.83. A further resistance level may holdings at 77.19. The Relative Strength Index (RSI) on the 14-day chart is 58.05, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 3.54, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 33.55%. Stochastics %K at 67.02% indicates the stock is a holding.
How much short interest is there in Marvell Technology Inc?
A steep rise in short interest was recorded in Marvell Technology Inc stocks on 2024-08-30, dropping by -14.52 million shares to a total of 21.01 million shares. Yahoo Finance data shows the prior-month short interest on 2024-07-31 was 35.53 million shares. There was a decline of -69.13%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on January 23, 2024 when Cantor Fitzgerald began covering the stock and recommended ‘”an Overweight”‘ rating along with a $80 price target.
