Marvell Technology Inc’s recent filing unveils that its Chief Financial Officer Meintjes Willem A unloaded Company’s shares for reported $0.13 million on Nov 15 ’24. In the deal valued at $89.14 per share,1,500 shares were sold. As a result of this transaction, Meintjes Willem A now holds 114,211 shares worth roughly $10.53 million.
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Then, Koopmans Chris sold 6,000 shares, generating $534,840 in total proceeds. Upon selling the shares at $89.14, the EVP, Chief Operations Officer now owns 103,244 shares.
Before that, KOOPMANS FAMILY TRUST U/A DTD bought 6,000 shares. Marvell Technology Inc shares valued at $534,840 were divested by the Officer at a price of $89.14 per share.
Loop Capital initiated its Marvell Technology Inc [MRVL] rating to a Hold in a research note published on November 12, 2024; the price target was $95. A number of analysts have revised their coverage, including Jefferies’s analysts, who began to cover the stock in mid May with a ‘”a Buy”‘ rating. Evercore ISI began covering MRVL with “an Outperform” recommendation on April 16, 2024. Summit Insights revised its rating on March 08, 2024. It rated MRVL as “a Buy” which previously was an “a Hold”.
Price Performance Review of MRVL
On Monday, Marvell Technology Inc [NASDAQ:MRVL] saw its stock fall -0.29% to $92.24. Over the last five days, the stock has gained 3.98%. Marvell Technology Inc shares have risen nearly 52.94% since the year began. Nevertheless, the stocks have risen 64.63% over the past one year. While a 52-week high of $95.09 was reached on 11/08/24, a 52-week low of $50.35 was recorded on 08/05/24. SMA at 50 days reached $81.05, while 200 days put it at $72.40.
Levels Of Support And Resistance For MRVL Stock
The 24-hour chart illustrates a support level at 91.26, which if violated will result in even more drops to 90.28. On the upside, there is a resistance level at 93.79. A further resistance level may holdings at 95.34. The Relative Strength Index (RSI) on the 14-day chart is 63.21, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.31, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 36.87%. Stochastics %K at 73.15% 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 2024-10-31, growing by 0.85 million shares to a total of 18.19 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-30 was 17.34 million shares. There was a rise of 4.69%, which implies that there is a positive sentiment for the stock.
The most recent change occurred on March 08, 2024 when TD Cowen resumed its ‘”an Outperform”‘ rating for the stock and retained the price target to $90.
