The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. 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 $12.72 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 a research note from Wells Fargo on December 04, 2024, Marvell Technology Inc [MRVL] has been retained to an Overweight and the price target has been revised to $130. Analysts at UBS resumed the stock at ‘”a Buy”‘ outlook in a report released in early December. As of December 04, 2024, The Benchmark Company has reiterated its “Buy” rating for MRVL. Earlier on December 04, 2024, TD Cowen resumed its rating. Their recommendation was “a Buy” for MRVL stock.
Analyzing MRVL Stock Performance
During the last five days, there has been a drop of approximately -5.75%. Over the course of the year, Marvell Technology Inc shares have jumped approximately 84.65%. Shares of the company reached a 52-week high of $119.88 on 12/04/24 and a 52-week low of $53.19 on 08/05/24. A 50-day SMA is recorded $87.94, while a 200-day SMA reached $74.36. Nevertheless, trading volume fell to 14.44 million shares from 13.26 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 109.23, which, if violated, would cause prices to drop to 107.11. In the upper region, resistance lies at 112.73. The next price resistance is at 114.11. RSI (Relative Strength Index) is 66.86 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 7.18, which suggests the price will increase in the coming days. Percent R is at 26.73%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
