Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Marvell Technology Inc shares valued at $133,710 were sold by Meintjes Willem A on Nov 15 ’24. At $89.14 per share, Meintjes Willem A sold 1,500 shares. The insider’s holdings dropped to 114,211 shares worth approximately $10.61 million following the completion of this transaction.
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Also, Koopmans Chris sold 6,000 shares, netting a total of over 534,840 in proceeds. Following the sale of shares at $89.14 each, the insider now holds 103,244 shares.
Before that, KOOPMANS FAMILY TRUST U/A DTD had added 6,000 shares to its account. In a trade valued at $534,840, the Officer bought Marvell Technology Inc shares for $89.14 each.
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 surge of approximately 2.47%. Over the course of the year, Marvell Technology Inc shares have jumped approximately 54.10%. 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 $80.31, while a 200-day SMA reached $72.18. Nevertheless, trading volume fell to 9.53 million shares from 6.53 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 90.84, which, if violated, would cause prices to drop to 88.75. In the upper region, resistance lies at 94.26. The next price resistance is at 95.59. RSI (Relative Strength Index) is 65.31 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.40, which suggests the price will decrease in the coming days. Percent R is at 17.95%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
