The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Marvell Technology Inc shares valued at $177,075 were sold by Casper Mark on Oct 01 ’24. At $70.83 per share, Casper Mark sold 2,500 shares. The insider’s holdings dropped to 22,494 shares worth approximately $1.62 million following the completion of this transaction.
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Also, MARK CASPER purchased 2,500 shares, netting a total of over 180,300 in proceeds.
Before that, MURPHY MATTHEW J had sold 6,000 shares from its account. In a trade valued at $439,740, the Chairman of the Board and CEO traded Marvell Technology Inc shares for $73.29 each. Upon closing the transaction, the insider’s holdings decreased to 6,000 shares, worth approximately $15.09 million.
As published in their initiating research note from Jefferies on May 13, 2024, Marvell Technology Inc [MRVL] has been a Buy and the price target has been revised to $85. Analysts at Evercore ISI started covering the stock with ‘”an Outperform”‘ outlook in a report released in mid April. As of March 08, 2024, Summit Insights has increased its “Hold” rating to a “Buy” for MRVL. Earlier on March 08, 2024, TD Cowen resumed its rating. Their recommendation was “an Outperform” for MRVL stock.
Analyzing MRVL Stock Performance
During the last five days, there has been a drop of approximately -1.65%. Over the course of the year, Marvell Technology Inc shares have jumped approximately 19.78%. Shares of the company reached a 52-week high of $85.76 on 03/07/24 and a 52-week low of $53.19 on 08/05/24. A 50-day SMA is recorded $68.51, while a 200-day SMA reached $68.85. Nevertheless, trading volume fell to 8.34 million shares from 10.87 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 70.79, which, if violated, would cause prices to drop to 69.33. In the upper region, resistance lies at 73.77. The next price resistance is at 75.29. RSI (Relative Strength Index) is 52.16 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.74, which suggests the price will decrease in the coming days. Percent R is at 62.66%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
