Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Marvell Technology Inc shares valued at $484,620 were sold by Koopmans Chris on Oct 21 ’24. At $80.77 per share, Koopmans Chris sold 6,000 shares. The insider’s holdings dropped to 109,244 shares worth approximately $9.91 million following the completion of this transaction.
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Also, KOOPMANS FAMILY TRUST U/A DTD purchased 6,000 shares, netting a total of over 484,620 in proceeds.
Before that, Hussain Muhammad Raghib had sold 150,000 shares from its account. In a trade valued at $12,075,000, the President, Products & Tech traded Marvell Technology Inc shares for $80.50 each. Upon closing the transaction, the insider’s holdings decreased to 150,000 shares, worth approximately $62.99 million.
As published in their initiating research note from Loop Capital on November 12, 2024, Marvell Technology Inc [MRVL] has been a Hold and the price target has been revised to $95. Analysts at Jefferies started covering the stock with ‘”a Buy”‘ outlook in a report released in mid May. As of April 16, 2024, Evercore ISI has initiated its “an Outperform” rating for MRVL. Earlier on March 08, 2024, Summit Insights upgraded its rating. Their new recommendation was “a Buy” for MRVL stock which previously was a “a Hold”.
Analyzing MRVL Stock Performance
During the last five days, there has been a drop of approximately -3.45%. Over the course of the year, Marvell Technology Inc shares have jumped approximately 50.39%. Shares of the company reached a 52-week high of $95.09 on 11/08/24 and a 52-week low of $53.19 on 08/05/24. A 50-day SMA is recorded $78.45, while a 200-day SMA reached $71.63. Nevertheless, trading volume fell to 7.47 million shares from 8.48 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 89.77, which, if violated, would cause prices to drop to 88.83. In the upper region, resistance lies at 92.04. The next price resistance is at 93.37. RSI (Relative Strength Index) is 63.63 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.20, which suggests the price will increase in the coming days. Percent R is at 27.37%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
