In a filing, Marvell Technology Inc revealed its Director STRACHAN MICHAEL G unloaded Company’s shares for reported $0.61 million on Jan 06 ’25. In the deal valued at $122.65 per share,5,000 shares were sold. As a result of this transaction, STRACHAN MICHAEL G now holds 30,959 shares worth roughly $3.54 million.
Then, Casper Mark sold 2,500 shares, generating $282,500 in total proceeds. Upon selling the shares at $113.00, the EVP, Chief Legal Officer now owns 24,706 shares.
Before that, STRACHAN MICHAEL G bought 5,000 shares. Marvell Technology Inc shares valued at $613,256 were divested by the Director at a price of $122.65 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 fall -3.31% to $114.32. Over the last five days, the stock has gained 0.67%. Marvell Technology Inc shares have risen nearly 3.50% since the year began. Nevertheless, the stocks have risen 80.12% over the past one year. While a 52-week high of $126.15 was reached on 01/06/25, a 52-week low of $53.19 was recorded on 01/02/25. SMA at 50 days reached $101.89, while 200 days put it at $78.44.
Levels Of Support And Resistance For MRVL Stock
The 24-hour chart illustrates a support level at 113.12, which if violated will result in even more drops to 111.93. On the upside, there is a resistance level at 116.03. A further resistance level may holdings at 117.75. The Relative Strength Index (RSI) on the 14-day chart is 54.60, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.85, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 54.30%. Stochastics %K at 63.75% 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 2024-11-15, 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.
