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- 1 MRVL stock price showed a bullish market trend while marking an upside-rising chart.
- 2 The other semiconductor stocks such as ENPH stock, CAN stock, and MCHP stock are following MRVL stock in 1-day trading volume activity.
Marvell Technology Inc. (NASDAQ: MRVL) stock price followed a bullish trend in its all-time price performance. From over 21% of price rise in the last 1-year, MRVL stock price noted 71.80% in its year-to-date (YTD) price performance. It must be noted that with an average volume of nearly 14 Million, Marvell Technology’s stock price shows a bullish market trend.
In the semiconductor industry stocks, MRVL stock has shown 7.396 Million of volume in one day. Whereas, Enphase Energy Inc. (NASDAQ: ENPH), Canaan Inc – ADR (NASDAQ: CAN), and Microchip Technology Inc. (NASDAQ: MCHP) showed 5.49 Million, 5.345 Million, and 4.733 Million of volume in a day, respectively.
MRVL Stock Price Indicating Bullish Trend
The previous closing marked by MRVL stock was at $65.13 on July 31, 2023, Monday’s trading session. The day range was between $64.69 to $66.26 with a 0.34% price rise.
The majority of bears were active during the trading session while the stock price showed a bullish trend. MRVL share price rested above its 20-day moving average, as per the data sourced from TradingView, a web-based social network for traders.
As the above price chart shows, Marvell Technology stock is forming a rising pattern instead of bearish activity. This rising pattern takes MRVL share price near the overbought zone while the $65.00 trading price has already been crossed. Although with the average trading volume, MRVL stock price may try to continue the bullish trend in upcoming trading sessions.
Major Holders of Marvell Technology, Inc. (MRVL)
According to Yahoo Finance, the U.S.-based business news platform, 87.37% of MRVL shares are held by institutions whereas 0.49% of shares are held by all insiders. FMR LLC, Vanguard Group Inc., Blackrock Inc., and Price (T.Rowe) Associates Inc. are the leading four institutional holders of Marvell Technology Inc.
The Fundamentals Highlights of Marvell Technology Inc.
Marvell Technology Inc. (NASDAQ: MRVL), a fabless semiconductor company, has a market cap of nearly $56.01 Billion. According to its Q1 2023 earnings and revenue report released on May 25, 2023, its net income is negative $168.90 Million. Its price-to-sales ratio is 9.60 while the company has an Enterprise Value to EBITDA ratio of 38.90.
MRVL dividends are paid quarterly and the last dividend per share was $0.06 while as of today, the Dividend Yield (TTM)% is 0.37%. As Q1 2023 states, MRVL’s earnings per share (EPS) is $0.31 whereas the estimate stands at $0.29, which accounts for a 5.82% surprise.
The revenue for the same period amounts to $1.32 Billion despite the estimated figure of $1.30 Billion. For the next quarter, the estimated EPS is $0.32, and revenue is expected to reach $1.33 Billion.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
