Marvell Technology Inc’s recently made public 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 $12.96 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.
Wells Fargo reiterated its Marvell Technology Inc [MRVL] rating to an Overweight in a research note published on December 04, 2024; the price target was $130. A number of analysts have revised their coverage, including UBS’s analysts, who remained covering the stock and in early December has reiterated a ‘”a Buy”‘ rating for it. The Benchmark Company also remained covering MRVL and reiterated its “Buy” recommendation on December 04, 2024. TD Cowen maintained its rating on December 04, 2024. It rated MRVL as “a Buy”.
Price Performance Review of MRVL
On Friday, Marvell Technology Inc [NASDAQ:MRVL] saw its stock jump 0.12% to $113.51. Over the last five days, the stock has gained 22.46%. Marvell Technology Inc shares have risen nearly 88.21% since the year began. Nevertheless, the stocks have risen 125.08% over the past one year. While a 52-week high of $119.88 was reached on 12/04/24, a 52-week low of $50.35 was recorded on 08/05/24. SMA at 50 days reached $85.71, while 200 days put it at $73.76.
Levels Of Support And Resistance For MRVL Stock
The 24-hour chart illustrates a support level at 111.84, which if violated will result in even more drops to 110.18. On the upside, there is a resistance level at 114.96. A further resistance level may holdings at 116.42. The Relative Strength Index (RSI) on the 14-day chart is 73.77, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 17.92, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 19.59%. Stochastics %K at 85.02% 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 2024-11-15, growing by 2.24 million shares to a total of 20.36 million shares. Yahoo Finance data shows the prior-month short interest on 2024-10-15 was 18.12 million shares. There was a rise of 11.01%, which implies that there is a positive sentiment for the stock.
The most recent change occurred on December 04, 2024 when Susquehanna resumed its ‘”a Positive”‘ rating for the stock and retained the price target to $125.
