In a filing, Marvell Technology Inc revealed its EVP, Chief Operations Officer Koopmans Chris unloaded Company’s shares for reported $0.48 million on Oct 21 ’24. In the deal valued at $80.77 per share,6,000 shares were sold. As a result of this transaction, Koopmans Chris now holds 109,244 shares worth roughly $9.12 million.
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Then, KOOPMANS FAMILY TRUST U/A DTD bought 6,000 shares, generating $484,620 in total proceeds.
Before that, Hussain Muhammad Raghib sold 150,000 shares. Marvell Technology Inc shares valued at $12,075,000 were divested by the President, Products & Tech at a price of $80.50 per share. As a result of the transaction, Hussain Muhammad Raghib now holds 694,487 shares, worth roughly $57.95 million.
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 Monday, Marvell Technology Inc [NASDAQ:MRVL] saw its stock jump 2.24% to $83.44. Over the last five days, the stock has gained 1.97%. Marvell Technology Inc shares have risen nearly 38.35% since the year began. Nevertheless, the stocks have risen 78.94% 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 $73.81, while 200 days put it at $70.35.
Levels Of Support And Resistance For MRVL Stock
The 24-hour chart illustrates a support level at 82.24, which if violated will result in even more drops to 81.04. On the upside, there is a resistance level at 84.28. A further resistance level may holdings at 85.11. The Relative Strength Index (RSI) on the 14-day chart is 67.37, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.90, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 5.90%. Stochastics %K at 85.34% indicates the stock is a selling.
How much short interest is there in Marvell Technology Inc?
A steep rise in short interest was recorded in Marvell Technology Inc stocks on 2024-10-15, dropping by -0.87 million shares to a total of 18.12 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 18.99 million shares. There was a decline of -4.81%, 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.
