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 $735,000 were sold by Koopmans Chris on Dec 16 ’24. At $122.50 per share, Koopmans Chris sold 6,000 shares. The insider’s holdings dropped to 97,244 shares worth approximately $11.28 million following the completion of this transaction.
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Also, Meintjes Willem A sold 1,500 shares, netting a total of over 183,750 in proceeds. Following the sale of shares at $122.50 each, the insider now holds 112,711 shares.
Before that, Brown Tudor had sold 10,005 shares from its account. In a trade valued at $1,211,806, the Director traded Marvell Technology Inc shares for $121.12 each. Upon closing the transaction, the insider’s holdings decreased to 10,005 shares, worth approximately $3.36 million.
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 surge of approximately 3.30%. Over the course of the year, Marvell Technology Inc shares have jumped approximately 92.26%. Shares of the company reached a 52-week high of $126.15 on 12/16/24 and a 52-week low of $53.19 on 08/05/24. A 50-day SMA is recorded $95.16, while a 200-day SMA reached $76.03. Nevertheless, trading volume fell to 5.66 million shares from 8.33 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 114.23, which, if violated, would cause prices to drop to 112.52. In the upper region, resistance lies at 116.83. The next price resistance is at 117.72. RSI (Relative Strength Index) is 60.18 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.39, which suggests the price will increase in the coming days. Percent R is at 46.85%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
